Statistics Canada data released on Tuesday have shown a 4 % increase from April to May, with sales reaching a record of $ 186 million. However, the Toronto pot shop, the city’s first legal location that opened its doors last year, has not experienced the spike.
On Tuesday, But Brown, spokesperson for Toronto cannabis store, indicated that everything had taken a hit this year.
Although the company had set up additional stores in 2020, they’d seen revenues decrease by 30% since January and February.
Brown also said they’d seen that business greatly diminished since March, as they went on that downward trend for March, April, May, and then started to see things picking up in June. The company is hopeful that the business will do well this month and in August as Toronto almost gets to “Phase 3.”
The spokesperson suspects other marijuana retailers have also encountered a decrease in revenue, despite the StatCan data.
He supposes that the data reflects an increase in legal cannabis stores in the country because the Alcohol and Gaming Commission of Ontario authorized nearly 50 new cannabis retailers between January and April. Other provinces have also continued to authorize new retailers this year.