Many thanks, Hunch... These retail sales are encouraging.... In April they sold 74k, and that went up to 127K in August...... Each month (April to August) shows increasing sales ..... and this industry is only in its infancy ...... Canada April: 74,584 May: 85,806 June: 91,460 July: 107,362 Aug: 127,381
Legal cannabis sales decline all across Canada in September, with New Brunswick's dropping 40%
This Sticky needs to be torn up, because as of September, Retail sales dropped, as well as price per gram, which equals less money for the Bag holders.
Ontario, meanwhile, saw a six per cent decline in cannabis sales from August, bringing in $31.8 million compared to $33.8 million the month before.
September recreational cannabis sales increased by 4.7 per cent in Quebec, where there are currently 28 legal retail stores in operation. Cannabis sales could take a hit in Quebec in 2020, given that as of Jan. 1, Quebecers under 21 will not be legally allowed to purchase or consume cannabis. Moreover, Quebec has banned the sale and consumption of cannabis edibles which was made legal across the country in October.
“In my view, part of the September sales drop was due to the 30 day month compared to August’s 31 day month. Most cannabis stores are open seven days a week,” wrote Chris Damas, author of The BCMI Report in a note to clients.
“The other aspect could be a ‘back to school’ phenomenon. People were on summer holidays in August, and consumed more cannabis,” he added.
Damas’ analysis of Friday’s data showed that provinces with private cannabis stores saw sales decline by one per cent, while provinces with mainly government stores saw sales decline by 5.3 per cent.
Sentiment towards the pot sector has turned bearish over the last one month, as major licensed producers struggle with declining revenue and growing inventory and the looming prospect of further price drops. Although Friday’s data showed a drop in overall sales from cannabis stores, it is unclear how much of that drop is due to pricing adjustments by retailers.
Statistics Canada data showed that for the first time, the average cost of a gram of cannabis fell 6.4 per cent in the third quarter of 2019, although pot obtained on the illicit market is still significantly cheaper.
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