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Aug-2024
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Overview
Market Insights Snapshot
Collective Project has shown consistent performance in the Beverage category across multiple regions. In British Columbia, the brand maintained a steady rank of 12th from May through August 2024, indicating a stable market presence. This consistency is notable given the fluctuations often seen in the cannabis beverage market. In Ontario, however, there was a slight decline from 7th in May to 13th in August. This drop could suggest increased competition or shifts in consumer preferences within the province. Despite this, the brand's sales figures in Ontario reveal a robust performance earlier in the summer, which may indicate potential for recovery in the coming months.
In the Edible category, Collective Project's performance in Ontario has been less impressive. The brand hovered around the 27th to 28th rank from May to August, barely making it into the top 30. This consistent low ranking suggests that the brand has not yet managed to capture significant market share in this category. The sales figures also reflect a declining trend, which could point to challenges in product appeal or market saturation. Brands that fail to maintain a top 30 position in any given month are typically struggling to compete, and Collective Project's performance in this category may need strategic adjustments to improve its standing.
Competitive Landscape
In the Ontario beverage category, Collective Project has experienced notable fluctuations in rank and sales over recent months. Starting in May 2024, Collective Project held a solid 7th place but saw a decline to 13th by August 2024. This drop in rank coincides with a decrease in sales from $120,536 in May to $99,771 in August. During this period, competitors such as Vacay and Green Monke have shown more stable or improving performance. Vacay, for instance, improved its rank from 13th in May to 12th in August, with a consistent increase in sales, reaching $113,069 in August. Similarly, Green Monke saw a significant rise from 16th in May to 11th in August, along with a steady increase in sales. These trends suggest that while Collective Project remains a strong player, it faces stiff competition from brands that are gaining market share and improving their sales performance. Understanding these dynamics can help in strategizing to regain lost ground and improve market positioning.
Notable Products
In August 2024, the top-performing product for Collective Project remained the CBD/THC 1:1 Blood Orange, Yuzu & Vanilla Sparkling Juice (10mg CBD, 10mg THC, 355ml), continuing its streak at the number one position despite a drop in sales to 5088 units. The Botany- CBD:THC 1:1 White Peach & Cardamom Sparkling Botanical Water (10mg CBD, 10mg THC 355ml) rose to the second spot, up from fourth in June 2024. Island Time- CBD:THC 1:1 Mango Pineapple & Coconut Sparkling Juice (5mg CBD, 5mg THC) also saw an improvement, climbing to third place from fourth in July 2024. Meanwhile, the CBD/THC 1:1 Cosmic Cowboy Cherry & Vanilla w/ Black Cherry Drink (10mg CBD, 10mg THC, 355ml) fell to fourth place from its consistent second-place ranking in previous months. The Day Tripper- CBD:THC 1:1 Raspberry & Vanilla Sour Squeezys Chews 5-Pack (10mg CBD, 10mg THC) maintained its fifth-place position throughout the observed period.
Top Selling Cannabis Brands
Data for this report comes from real-time sales reporting by participating cannabis retailers via their point-of-sale systems, which are linked up with Headset’s business intelligence software. Headset’s data is very reliable, as it comes digitally direct from our partner retailers. However, the potential does exist for misreporting in the instance of duplicates, incorrectly classified products, inaccurate entry of products into point-of-sale systems, or even simple human error at the point of purchase. Thus, there is a slight margin of error to consider. Brands listed on this page are ranked in the top twenty within the market and product category by total retail sales volume.
