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Ontario Cannabis Sales
Aug, 2024
Overview
Ontario's cannabis market, as of August 2024, demonstrates a complex landscape of growth and pricing dynamics. The total sales for August 2024 reached approximately $168.91 million, with a slight month-over-month growth of 1.4% and a year-over-year decline of 13%. This indicates a short-term recovery while still struggling in a longer-term perspective. The average item price in Ontario has seen a decrease from $22.35 in August 2023 to $21.50 in August 2024, reflecting a market adjustment or possibly increased competition among suppliers.
The market has experienced fluctuations over the past 24 months, with notable peaks and troughs. For instance, December 2023 saw a significant increase in sales, which suggests seasonal influences or possibly promotional activities. However, the general trend from January 2024 onwards indicates a challenging environment with declining year-over-year growth rates, highlighting the need for strategic adjustments in marketing or product offerings.
Aug, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing Ontario to other major markets in Canada like Alberta (AB) and British Columbia (BC), Ontario leads in total sales with $168.91 million, significantly higher than BC's $59.26 million and AB's $68.21 million in August 2024. However, all regions are experiencing a year-over-year decline, with Ontario at -13%, BC at -20.7%, and AB at -13.2%. This suggests a nationwide trend of market contraction or saturation.
Ontario's pricing strategy appears more stable compared to other provinces, with a smaller decrease in average item price year-over-year. This could indicate a better balance in supply and demand dynamics or more effective pricing strategies in Ontario.
Ontario Weed Prices
Category Performance
The Tincture & Sublingual category in Ontario presents a contrasting trend compared to the overall market. In August 2024, this category saw an impressive month-over-month sales growth of 87.5% and a year-over-year growth of 56.8%, with total sales reaching approximately $76,118. This growth is significantly higher than other categories, suggesting a rising consumer interest or effective market penetration strategies. The average item price decreased slightly from $31.25 in August 2023 to $27.84 in August 2024, which could have contributed to the increased sales volume.
Top Cannabis Brands in Ontario
Product Category Market Share In Ontario
Historical Cannabis Sales In Ontario
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