Authorized cannabis stores in Ontario sold more than one billion dollars worth of cannabis in the first half of 2024.

This was 21% more cannabis by volume and 11.8% in dollars sold in the first six months of 2024 compared to the same period in 2023, according to new figures shared by the Ontario Cannabis Store (OCS). 

Total cannabis sales at legal, licensed stores in Canada’s most populated province totalled $1,029,614,280, from an array of 4,746 different SKUs. The average wholesale (not retail) price of cannabis sold in this time frame was $3.84 a gram, not including HST. This figure includes both dried flower and pre-rolls. 

Ontario had 1,721 authorized retailers as of June 20, 2024, a 3% year-over-year increase. The number of stores increased in every part of Ontario except for Toronto, which lost 11 stores compared to the same period in 2023, a 3% year-over-year loss. 

New store authorizations have slowed down considerably. There were 123 new stores “onboarded”* from January 1 to June 30, 2024, a 20% decrease from the first six months of 2023. There were also 80 stores offboarded from January 1 to June 30, 2024, a 13% decline from the number of stores that closed in the first six months of 2023. 

*Onboarding is the process an authorized retailer and authorized cannabis store goes through to be able to access the OCS online B2B portal for wholesale orders.

The OCS distribution centre shipped 204,314,110 grams of cannabis (and its equivalent) to authorized stores over this period, an increase of 18.5% year-over-year.

The number of units of cannabis pre-rolls delivered to stores surpassed dried flower in early 2023, with that trend increasing in the first half of 2024. The OCS delivered 34,063 total deliveries in this time period, a 5% year-over-year increase, and delivered more than 50 million units.

Cannabis vapes remain the most common source of product complaints, with 71% of the 14,161 complaints relating to vapes, just 16% relating to dried flower products and 9% related to extracts. 

The number of SKUs available through the OCS’s flow through program increased considerably in the first half of 2024, while the number of active SKUs stocked at the OCS distribution warehouse remained relatively consistent. 

Total grams of cannabis sold in the first six months of 2024 were 190,527,442, a 21% increase from the 157,495,201 grams sold in the first six months of 2023. And while cannabis sales have appeared to cool off nationally in the past year, the OCS says the total value of legal cannabis sales in the first six months of 2024 was $1,029,614,280, an 11.8% increase compared to the $921,021,041 sold over the same period in 2023. 

Dried flower still dominated retail sales, followed by pre-rolls, infused pre-rolls, and vapes. A new report available to OCS vendors says that 58% of consumers are looking for lower-potency cannabis products so they can have more control over their dose. 

The average wholesale price per gram of pre-rolls in the first half of 2024 was $4.63, while a 3.5 gram SKU was $5.24 per gram. A 7 gram SKU was $3.56, a 14 gram was $3.66, and a 28 gram was $2.82.

While the OCS sets wholesale prices for cannabis in Ontario, retailers choose their own retail price. According to Headset, a cannabis data tracking company, the average price of cannabis at retail stores as of September 2024 was $9.39 in Ontario. This is slightly higher than BC, but lower than Alberta, says Headset. The average sale price for cannabis in Quebec in the three months ending June 22 was $5.84.

Related Articles

OCS launches more detailed sales metrics for producers

August 23, 2024

A tale of two markets: The future of retail cannabis in Ontario and Quebec

August 27, 2024

Cannabis-related complaints to Ontario’s Ombudsman lowest since legalization

June 28, 2024