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British Columbia Cannabis Sales
Apr, 2024
Overview
The cannabis market in British Columbia (BC) has been experiencing fluctuations in both pricing and sales volumes. As of April 2024, the average item price has seen a slight decrease from the previous month, settling at CAD 21.49, which is indicative of a competitive pricing strategy possibly aimed at maintaining market share. Total sales for the same period amounted to CAD 59.89 million, with a total of 2,786,908 units sold. However, this represents a month-over-month sales decline of 0.8% and a year-over-year sales drop of 12.6%, suggesting a challenging market environment.
Despite these challenges, certain product categories have shown resilience. The Oil category, for instance, has seen a year-over-year sales growth of 4.6% and a unit growth of 5.3%, bucking the overall market trend. This suggests a consumer shift towards specific product types, possibly driven by a maturing market where consumers are becoming more discerning in their preferences.
Apr, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing British Columbia (BC) to other markets in Canada, it is evident that BC's market size is second to Ontario (ON), which reported total sales of CAD 158.86 million in April 2024. However, BC's market is larger than Alberta (AB) and Saskatchewan (SK), which reported sales of CAD 76.01 million and CAD 15.80 million, respectively. In terms of growth rates, BC's year-over-year sales decline is more pronounced than ON's slight decline of 0.8%, but it is less severe than SK's significant drop of 16.6%.
Pricing across different markets shows that BC's average item price is lower than AB's and ON's, which could be a factor in the province's ability to maintain a relatively high volume of units sold despite a decrease in sales.
British Columbia Weed Prices
Category Performance
The Oil category in British Columbia (BC) has displayed a unique trend compared to the overall market. Within this category, segments such as Hybrid and Indica have shown significant growth. The Hybrid segment experienced a 9.9% increase in sales and an 8.3% rise in units sold year-over-year, while Indica saw a 13.0% sales growth and a 3.3% increase in units sold. This indicates a growing consumer preference for these segments.
The top brands in the Oil category for April 2023 include Redecan, Pura Vida, and MediPharm Labs, with Redecan leading in total sales. These brands have successfully captured the market's attention, possibly through effective branding and product quality.
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