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Aug-2024
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Overview
Market Insights Snapshot
Green Monke has demonstrated a consistent performance in the Beverage category across different regions. In British Columbia, the brand maintained a steady position, oscillating between the 7th and 8th ranks from May to August 2024. This stability is notable, especially considering the competitive nature of the cannabis beverage market. The sales figures for British Columbia also reflect a positive trend, with a significant increase in July 2024, reaching over $70,000 in sales, before slightly dipping in August. This consistent ranking and robust sales performance highlight Green Monke's strong presence and consumer preference in the province.
In Ontario, Green Monke experienced more dynamic movements within the top 30 rankings. The brand saw a remarkable jump from 16th place in May to 9th in June, indicating a substantial increase in market penetration and consumer acceptance. Although there was a slight decline to the 11th position by August, the overall trend still points to a significant improvement compared to the start of the period. The sales data corroborates this trend, with a notable peak in June, followed by stable figures in the subsequent months. However, the fact that Green Monke did not drop out of the top 30 at any point during this period underscores its growing foothold in Ontario's cannabis beverage market.
Competitive Landscape
In the competitive Ontario cannabis beverage market, Green Monke has shown significant fluctuations in rank and sales over the past few months. Starting from a rank of 16 in May 2024, Green Monke made a notable leap to rank 9 in June, before slightly dropping to 10 in July and 11 in August. This indicates a strong upward trend in the early summer months, likely driven by increased consumer demand or effective marketing strategies. In comparison, Solei maintained a relatively stable position, fluctuating between ranks 10 and 13, while Vacay showed a consistent presence in the top 13. Collective Project experienced a decline from rank 7 in May to 13 in August, which could indicate shifting consumer preferences or competitive pressures. Meanwhile, Bubble Kush demonstrated a strong recovery, moving from rank 18 in June to 9 in August. These dynamics suggest that while Green Monke has made impressive gains, the market remains highly competitive with brands like Bubble Kush and Solei also vying for top positions.
Notable Products
In August 2024, the top-performing product for Green Monke was CBD/THC 2:1 Mango Guava Sparkling Soda (6mg CBD, 3mg THC, 350ml), maintaining its first-place rank from previous months with notable sales of 10,178 units. The second spot was held by CBD/THC 2:1 Orange Passionfruit Sparkling Soda (6mg CBD, 3mg THC, 350ml), which also retained its rank but saw a slight decline in sales. Third place went to CBD/THC 2:1 Tropical Citrus Sparkling Soda (6mg CBD, 3mg THC, 12oz), consistent in its position but with an increase in sales compared to July. CBD:THC 2:1 Blue Raspberry Sparkling Beverage (20mg CBD, 10mg THC) improved its rank from fifth to fourth, showing a significant sales boost. Lastly, CBD/THC 2:1 Tropical Citrus Sparkling Soda (20mg CBD, 10mg THC, 12oz) dropped to fifth place, despite a small decrease in sales from the previous month.
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.
