Canadian Cannabis Sales Bounced in March

Statistics Canada released March retail sales for the country, with cannabis sales increasing from the February levels, up 4.9% to C$428.4 million.  February, originally reported at C$404.7 million, was revised higher to C$408.2 million. The sales in March were up 2.7% from a year ago. This was down from the 20.3% August 2023 growth rate and below the prior lowest annual  growth rate since legalization commenced  of -0.9% in September, but it was down sharply from the December growth of 9.1%.  In 2024, total sales increased 4.5% to C$5.39 billion, and they are up 2.3% so far in 2025.

An increase in the number of stores as well as falling flower prices that bring consumers from the illicit market have been boosting sales. In Ontario, the largest province in population, sales were up 6.0% from February and up 7% from a year ago. Alberta, which is the second-largest province, was up 11.4% from February and up 6% from a year ago. Quebec was up 6.1% from February and down 19% from a year ago, while British Columbia was down 8.0% from February as it fell 9% from a year ago.

The April sales data will be released on June 2oth.

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