Cannabis Sales In Canada Decline Sharply: What’s Behind The Drop?
The Canadian cannabis market, once a beacon of growth, is facing turbulent times as recent data reveals a sharp decline in sales. As New Cannabis Ventures reported, Statistics Canada’s June retail sales figures show a 2.8% drop from May, with total sales falling to C$402.0 million. This marks an 8.2% decrease from the same period last year, a stark contrast to the double-digit growth witnessed in the past.
A Shift In Momentum
The cannabis industry in Canada has seen steady expansion since legalization, but the latest figures highlight a concerning trend. June’s retail sales fell significantly short of expectations, signaling a potential shift in the market’s dynamics. With May’s sales also revised downwards from C$434.5 million to C$413.6 million, the industry appears to be grappling with more than …