Canadian Legal Cannabis Sales Hit Record High
July Stats Show Consistent Growth Across All Provinces – LPC
The Marijuana Business Daily reports that Canadian legal cannabis sales hit a record high in July, reaching $231.6 million or a 15.2 per cent jump over June’s sales. The biggest dollar-value gain was in Ontario, where the country’s largest province sold $60.3 million for a 23.5 per cent increase over June. Those sales beat out Alberta, which experienced a 10.9 per cent increase to $51.8 million
“I think you’ll see that (growth) trend continue,” said Steven Fry, co-founder and CEO of Sessions Cannabis. Fry has five Ontario retail cannabis stores open and plans to have 27 more open by April 2021.
“People really want to go in brick-and-mortar stores,” Fry added. “They want to engage with staff, they want to learn about the products, they want to have that convenience available to them.”
Since the Ontario cannabis market opened up, retail cannabis stores are flourishing in Ontario. That combined with legal cannabis closing the gap with illegal cannabis in price has helped build the legal market.
Stats Canada said that legal cannabis outpaced illegal cannabis country-wide for the first time in September 2020. That trend is true even in BC, where until recently the illegal market continued to thrive.
Canadian legal cannabis sales are expected to continue climbing for the foreseeable future. That’s thanks to dropping prices and a growing Ontario market. It’s another indication that the legal cannabis market in Canada is growing stronger every month.
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