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British Columbia Cannabis Sales
Jun, 2024
Overview
British Columbia's cannabis market is currently sized at approximately $69.26 million in total sales as of June 2024, with a slight month-over-month growth of 0.8% and a year-over-year growth of 4.4%. The average item price in BC has seen a marginal decrease from $22.27 in June 2023 to $21.11 in June 2024, indicating a stable pricing environment. The total units sold in June 2024 reached approximately 3.28 million, reflecting a consistent demand in the market. This stability in pricing, coupled with modest growth rates, suggests a maturing market that maintains consumer interest and steady consumption patterns.
The cannabis market in BC is characterized by a diverse range of product categories, each showing different growth trajectories and consumer preferences. The overall market health is supported by a broad base of products, maintaining consumer engagement through variety and innovation. This diversity is crucial for sustaining the market's growth and adapting to evolving consumer tastes and regulatory changes.
Jun, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing BC to other major markets in Canada like Ontario and Alberta, BC shows a healthier growth pattern. For instance, Ontario experienced a decline in both month-over-month and year-over-year sales growth, with total sales reaching $164.43 million but a significant YoY decline of -8.1%. Alberta, while smaller in market size with $78.99 million in sales, showed a stronger growth in sales (5.1% YoY) but a higher average item price of $21.76 compared to BC's $21.11.
British Columbia Weed Prices
Category Performance
Focusing on the Edibles category, it has shown an interesting trend compared to the overall market. In June 2024, the total sales for Edibles were approximately $4.35 million, with a significant year-over-year growth of 1.0% and a substantial increase in units sold by 26.5%. The average item price for Edibles has decreased from $7.09 in June 2023 to $5.66 in June 2024, which might have contributed to the increased volume of units sold. This price adjustment could be a strategic move to capture more market share and cater to price-sensitive consumers.
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