Canadian Cannabis Sales In March Improve 65% YoY Reaching $246.7M

According to the outlet, this was the “slowest year-over-year growth” since recreational sales in the country began in late 2018. First-quarter sales improved only 1.8% sequentially.

The data analytics provider, Hifyre IQ, had projected April sales would improve around 4% hitting CA$309 million. This implies a 73% growth from the same period of a prior year.

Retail sales were negatively affected by COVID lockdowns, while new stores and lower prices provided a boost.

Breaking down sales data by province, Ontario improved the most gaining 121% year-over-year. Sales in Alberta improved 10% from the same period of 2020 and in British Columbia 12%.

Photo by Inspector CBD on Unsplash

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