Canadians purchased $282 million worth of retail cannabis in first month of 2021

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Following the best month for cannabis retail sales in 2020, cannabis sales dipped in the first month of 2021, according to new figures from Statistics Canada . In December 2020, Canadians spent just shy of $300 million at cannabis retailers, with sales likely boosted by holiday spending and gift-giving. But in January, retail sales amounted to $282 million, representing a five per cent decline month-over-month. Ontario to ramp up the pace of cannabis store authorizations Canadian cannabis retail sales top $261 million in November Nationwide search underway for new leadership at Ontario Cannabis Store Sales fell month-over-month in every province, with Newfoundland and Labrador experiencing the biggest drop (13.75 per cent). Manitoba, with a 0.7 per cent decline, saw the smallest decrease in sales. Compared to January 2020, however, when Canadians spent $154 million at cannabis retailers, January 2021 sales increased 83.5 per cent year-over-year. Retailers in Ontario sold the most cannabis in January 2021, with sales totalling just under $90 million. After a slow retail rollout, Canada’s most populous province now has nearly 500 cannabis stores up and running, with about 1,000 more stores awaiting processing. Last month, the Alcohol and Gaming Commission of Ontario, the organization responsible for regulating cannabis retail in the province, announced it will begin issuing 120 cannabis Retail Store Authorizations (RSAs) per month. It was previously issuing around 80 RSAs each month. Ontario also experienced the largest year-over-year increase in January sales, netting a 143 per cent increase from January 2020, when Ontarians purchased $37 million worth of product from cannabis retailers.

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Source : Canadians purchased 2 million worth of retail cannabis in first month of 2021

reposted by Cannabis News World

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