Retail cannabis sales in Canada continue to hold relatively steady year-over-year, with the summer peak in sales in August reaching $476 million, up slightly from $469 million in August 2023.
Cannabis sales had seen significant year-over-year growth in the first four years of legalization, along with the number of new retail outlets appearing across the country. In the last two years, though, the increase in sales began to slow down, coinciding with a slowdown in new retail stores, likely representing market saturation.
Statistics Canada reported in April 2024 that about 71% of cannabis consumers in the previous year had bought cannabis exclusively from legal sources, such as the more than 3,000 legal cannabis stores in Canada. It’s important to note that Statistics Canada’s monthly cannabis sales figures are at times adjusted as the quality of collected data improves.
The figures below show both seasonally adjusted sales figures as well as unadjusted.
StratCann – | David Brown