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Aug-2024
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Overview
Market Insights Snapshot
In the province of Alberta, Favours has shown consistent performance in the Beverage category over the summer months. Starting from a rank of 18 in May and June, the brand improved slightly to 17th place by July. However, by August, Favours was no longer in the top 30 brands in Alberta, indicating a possible decline in market presence or increased competition. It's worth noting that their sales figures also saw a downward trend from May to July, which might have contributed to their eventual drop-off from the rankings.
The trend in Alberta is indicative of the challenges Favours faces in maintaining its market position. The initial stability followed by a slight improvement suggests that the brand was gaining some traction, but the subsequent drop-off points to potential issues that need addressing. The absence of a ranking in August is particularly concerning and could be seen as a negative indicator for the brand's performance in Alberta's competitive Beverage category. This movement across the months highlights the volatility and the need for strategic adjustments to regain and sustain market share.
Competitive Landscape
In the Alberta beverage category, Favours has shown a slight improvement in its ranking over the summer of 2024, moving from 18th place in May and June to 17th place in July. This upward trend, albeit modest, suggests a positive reception among consumers. However, Favours still faces stiff competition from brands like Versus, which consistently holds a top position, ranking 3rd in May. Additionally, brands such as AMBR and Summit are also in the mix, although they did not rank in the top 20 after May. The competitive landscape indicates that while Favours is making incremental gains, it must strategize effectively to close the gap with higher-ranking brands and sustain its upward momentum in sales and market position.
Notable Products
In August 2024, the top-performing product from Favours was the Peach Mixer Drink Shot (10mg THC, 60ml), which secured the first rank with sales of 601 units. Following closely was the Lemon Beverage Shot (10mg THC, 60ml) in second place. The Berry Mixer Shot (10mg THC, 60ml) dropped to third position despite being the top performer in May and July. Notably, the Peach Mixer Drink Shot and Lemon Beverage Shot have shown consistent performance, maintaining top three positions over the past months. The Berry Mixer Shot, although it saw a decline in August, had strong sales in previous months, indicating a fluctuating but overall strong performance.
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.
