Canadian Cannabis Sales Bounced to a New Record Level in December

Statistics Canada released December retail sales for the country, with cannabis sales increasing from the November levels, up 5.3% to C$503.7  million, a new record monthly total. This sequential increase was up 1.9% on a per-day basis more due to the higher number of days than in the prior month. November, originally reported at C$477.9 million, was revised slightly higher to C$478.4 million. The sales in December were up 2.9% from a year ago, down from the level in May at 8.3%, from 7.5% in June and the 6.2% in September. This was also down from the 20.3% August 2023 growth rate and better than the prior lowest annual growth rate since legalization commenced of -0.9% in September 2024 and then -1.6% in October due to the BC strike, and it was down substantially from the December 2024 growth of 9.1%. The prior record level in August was only 1.8% above the year-earlier level. In 2024, total sales increased 4.5% to C$5.39 billion, and they were up 4.1% in 2025 to C$5.62 billion.

 

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 6.5% from November but down 4% from a year ago. Alberta was up 5.7% from November but down 1% from a year ago. British Columbia increased by 5.2% from November and by 22% from a year ago, while Quebec was down 1.6% from November and up 10% from a year ago.

The January sales data will be released on March 20th.

Exclusive article by Alan Brochstein, CFA
Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online community 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email

Get Our Sunday Newsletter