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Aug-2024
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Overview
Market Insights Snapshot
Decimal has shown notable performance improvements across its product categories and states over the past few months. In Ontario, the brand's Capsules category has experienced a steady climb in rankings, moving from 17th place in May 2024 to 12th place by August 2024. This consistent upward trend indicates a growing consumer preference and market share within the province. The sales figures also support this positive movement, with a significant increase from 10,452 units in May to 19,644 units in August, showcasing a robust demand for Decimal's Capsules in Ontario.
While Decimal's performance in Ontario's Capsules category is impressive, it's important to note that the brand did not make it into the top 30 rankings in other states or categories during this period. This absence could either indicate a strategic focus on specific markets or potential areas for growth and expansion. The data suggests that while Decimal is gaining traction in Ontario, there might be untapped opportunities in other regions that the brand could explore to enhance its market presence. Overall, Decimal's performance in Ontario provides a strong foundation for future growth in other markets.
Competitive Landscape
In the Ontario market for cannabis capsules, Decimal has shown a notable upward trend in its ranking over the past few months, moving from 17th place in May 2024 to 12th place by August 2024. This consistent improvement in rank suggests a positive reception and growing customer base. In contrast, competitors like Stigma Grow and Mood Ring have maintained relatively stable positions, with Stigma Grow holding steady at 10th place and Mood Ring just behind at 11th place in August 2024. Meanwhile, Pennies and Spring Hill Cannabis Co. have not shown significant movement, with Pennies remaining at 13th place and Spring Hill Cannabis Co. re-entering the rankings at 14th place in July and August after being absent in June. Decimal's rise in rank and sales, particularly in comparison to these competitors, highlights its growing market presence and potential for continued growth in the Ontario capsules category.
Notable Products
In August 2024, the top-performing product for Decimal was THC Capsules 90-Pack (900mg), maintaining its number one rank from the previous two months with notable sales of 198 units. The CBD:THC 1:1 Balance Softgels 30-Pack (150mg CBD, 150mg THC) climbed back to the second position, showing a significant increase in sales from July. CBD Capsules 90-Pack (1800mg CBD) dropped to the third position after holding the second spot in July. Meanwhile, THC 10 Softgels 30-Pack (300mg) remained steady at fourth place, indicating consistent performance. These rankings reflect dynamic shifts in consumer preferences within the Capsules category over the past few months.
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.
