NSLC Signature in Bridgewater, NS. Photo: NSLC
The Nova Scotia Liquor Corporation (NSLC) has enjoyed a good quarter with them crediting a change in purchasing patterns as the cause of their sales growth.
With restaurants facing restrictions on capacity, hours, and in some cases opening altogether Nova Scotians are purchasing more products for at-home consumption at NSLC locations.
There was a 14.3 per cent increase in earnings this quarter to $74.9 million compared to the same period in the previous fiscal year.
Overall, there was an 11.7 per cent increase in beverage alcohol sales to $187.8 million and a 19.7 per cent increase in the average basket size compared to the same time last year.
There was a 27.5 per cent increase in cannabis sales to $22.2 million with the addition of new stores and a reduction in the average price per gram.
It is likely cannabis will see more growth throughout the year with the NSLC opening 15 new cannabis locations by the end of their fiscal year.
The new stores will open in Annapolis Royal, Baddeck, Barrington Passage, Berwick, Elmsdale, Glace Bay, Liverpool, Mahone Bay, Bedford, Port Hawkesbury, Sydney Mines, Tantallon, Sheet Harbour, and Tatamagouche.
Local products made up a large portion of the growth with more Nova Scotians opting to purchase locally made products.
Locally made ready-to-drink products lead growth with a 74.2 per cent increase in sales to $6.2 million. Nova Scotia spirit sales grew by 32.3 per cent to $3.8 million compared to the same quarter the previous fiscal year. Nova Scotia wine sales increased by 22.7 per cent to $4.4 million and craft beer sales grew by 20.8 per cent to $6.0 million. Nova Scotia cannabis sales experienced very strong growth of 31.5 per cent to $4.5 million.
