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Saskatchewan Cannabis Sales
Apr, 2024
Overview
The cannabis market in Saskatchewan has experienced a fluctuating trajectory over the past year. April 2024 saw a decrease in average item price to CAD 20.86, down from CAD 21.56 the previous year, indicating a potential shift in consumer purchasing patterns or market saturation. Total sales for April 2024 reached CAD 15.8 million, with a year-over-year sales growth plummeting by 16.6% and a corresponding unit growth decline of 13.9%. This suggests a significant contraction in market size and consumer spending within the province.
Despite a challenging year, the month-over-month data shows a slight increase in unit sales by 1.2%, though dollar sales dropped by 2.1%. This could imply a consumer trend towards more budget-friendly options or smaller purchase sizes. The market's response to these shifts will be crucial for future growth and stability.
Apr, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing Saskatchewan to other provinces, it's evident that SK's market is smaller and currently facing steeper challenges. For instance, Ontario's market size towers over SK with total sales of CAD 158.9 million in April 2024, and a much smaller year-over-year sales decline of 0.8%. British Columbia, despite a year-over-year sales decline of 12.6%, still outperforms SK with sales of CAD 59.9 million. The average item price in SK is lower than in other provinces, which could be a competitive advantage if leveraged correctly.
Saskatchewan Weed Prices
Category Performance
Edibles stand out as a category that deviates from the overall market trend, with a notable decrease in average item price from CAD 6.40 in April 2023 to CAD 5.68 in April 2024. Despite the lower price point, both sales and unit growth have seen a decline, with sales dropping by 17.4% and units by 6.8% year-over-year. This suggests that while consumers are still interested in edibles, they may be seeking even more competitive pricing or are influenced by other factors such as product innovation or brand loyalty.
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