STATS CAN Retail Report in for March Stats Can Retail
According to Stats Canada, retail sales of cannabis in 2022 rose from a low of $324,082,000 in February 2022 to $358,752,000 in March 2022. An increase of $34.67million representing in a 10.66% growth in sales month over month offsetting a patterned drop in the first two months of the year.
March cannabis sales of $358million also sets a new record high for monthly sales. The previous high was set at $355million in October 2021. March numbers may still be subject to some adjustment, give or take.
https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=2010000802&pickMembers%5B0%5D=1.1&cubeTimeFrame.startMonth=10&cubeTimeFrame.startYear=2021&cubeTimeFrame.endMonth=05&cubeTimeFrame.endYear=2022&referencePeriods=20211001%2C20220501
Previous year’s retail cannabis sales have trended upward from April through October. If that trend repeats itself in 2022 annual retail cannabis sales could see growth of more than 20% over 2021.
Other Canadian Cannabis retail sales stats to consider;
Q1-2021 total - C$838,687,000
Q1-2022 total - C$1,029,328,000
an increase of 22.7%
Full year 2021 - C$3,834,766,000
A growth rate of 20% puts total projected 2022 Canadian Canbabis Retail Sales at C$4.6billion.
Enjoy the grow.
cheers