.svg){kind=small}
Aug-2024
Sales
Trend
6-Month
Product Count
SKUs
Overview
Market Insights Snapshot
MediPharm Labs has shown consistent performance in the Oil category across several Canadian provinces. Notably, in Alberta, MediPharm Labs has maintained the top position from May through August 2024, despite a slight decline in sales from $477,417 in May to $401,425 in August. This indicates a strong brand presence and consumer loyalty in the province. Similarly, in Saskatchewan, MediPharm Labs has also held the number one rank throughout the same period, although sales have seen a more pronounced decline from $125,343 in May to $69,086 in August. This trend might suggest a need for strategic adjustments to sustain their leading position.
In British Columbia and Ontario, MediPharm Labs has consistently ranked second in the Oil category from May to August 2024. While the sales figures in British Columbia have fluctuated, peaking at $209,279 in June before dropping to $176,110 in August, Ontario has shown a more stable pattern with sales slightly increasing from $533,812 in May to $554,946 in August. The consistent ranking in these competitive markets highlights MediPharm Labs' strong market penetration and brand recognition. However, the absence of top 30 rankings in other states or categories could indicate potential areas for growth or a need for diversification in their product offerings.
Competitive Landscape
In the Ontario oil category, MediPharm Labs consistently holds the second position from May to August 2024, indicating a stable market presence. However, the brand faces stiff competition from Redecan, which dominates the top rank throughout the same period. Redecan's sales figures are significantly higher, suggesting a strong consumer preference and brand loyalty. Meanwhile, Viola and NightNight maintain the third and fourth positions respectively, with sales figures considerably lower than MediPharm Labs. This competitive landscape highlights MediPharm Labs' need to innovate and possibly expand its marketing efforts to challenge Redecan's dominance and further distance itself from the lower-ranked competitors.
Notable Products
In August 2024, the top-performing product from MediPharm Labs was CBN:THC 1:2 Nighttime Formula Oil (30ml), maintaining its number one rank for four consecutive months with a notable sales figure of 8155 units. The CBN:CBD 1:2 Relax Formula Oil (30ml) climbed to the second position, showing a slight recovery from its third-place ranking in the previous two months. The THC 30 Regular Formula Oil (30ml) dropped to the third spot, a shift from its consistent second-place ranking in June and July 2024. The CBD 50 Plus Olive Formula Oil (30ml) and CBG/CBD 1:2 Advanced Formula Oil (30ml) held steady in fourth and fifth positions respectively throughout the past four months. Overall, the rankings indicate a stable performance for MediPharm Labs' top products, with minor shifts in the middle ranks.
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.
