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From October 2018 to October 2023, Canadian cannabis stores reported sales exceeding $16 billion, with steady year-over-year growth. As of October 2023, monthly sales reached over $448 million, marking an increase from around $392 million in October 2022, although slightly down from the peak of almost $467 million in August 2023. The number of cannabis retail stores in Canada has also continued to rise, reaching 3,694 as of January 2024, with varying numbers across provinces.
Health Canada’s annual survey indicates that 73% of respondents are purchasing cannabis from legal sources, a significant increase from 37% in 2019 and almost 70% in 2022. The survey also highlights popular cannabis products, with dried flower or leaves, edible cannabis, and vape pens or cartridges leading in sales. The average monthly spending on cannabis among users dropped from $73 in 2018 to close to $63 in the 12 months leading up to the survey conducted between May and July. Despite these figures, industry experts caution that government-collected data may be influenced by underreporting due to the lingering stigma around cannabis use and purchases from illicit sources.
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