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Dec-2024
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Overview
Market Insights Snapshot
In the Ontario market, Mood Ring's performance in the Capsules category has seen a notable decline over the last few months of 2024. Starting from a rank of 11 in September, the brand slipped to 13 in October and further to 16 in November. By December, Mood Ring no longer appeared in the top 30, indicating a significant drop in market presence. This downward trend is mirrored by a consistent decrease in sales figures, which plummeted from 35,824 in September to just 12,716 by November. Such a decline suggests potential challenges in maintaining consumer interest or increased competition within the capsules segment.
Meanwhile, in the Oil category, Mood Ring's performance in Ontario was less prominent, with the brand only appearing in the rankings in September at position 22. The absence from the top 30 in subsequent months could be indicative of a strategic shift away from this category or heightened competition that overshadowed Mood Ring's offerings. The initial sales figure in September was 12,612, but without subsequent data, it's difficult to ascertain the trajectory. This absence from later rankings might suggest that Mood Ring needs to reassess its strategy in the Oil category to regain a competitive edge in the market.
Competitive Landscape
In the competitive landscape of cannabis capsules in Ontario, Mood Ring has experienced a notable decline in its market position over the last few months of 2024. Starting at rank 11 in September, Mood Ring's rank slipped to 13 in October, 16 in November, and fell out of the top 20 by December. This downward trend in ranking is mirrored by a significant decrease in sales, indicating potential challenges in maintaining market share. In contrast, Vortex Cannabis Inc. has shown a strong performance, consistently ranking higher than Mood Ring and maintaining a top 7 position throughout the same period. Meanwhile, Frank has shown an upward trajectory, improving its rank from outside the top 20 in September to 13 by December, suggesting a growing consumer preference. Spring Hill Cannabis Co. has maintained a steady presence, holding the 14th position by December. These dynamics highlight the competitive pressures Mood Ring faces, emphasizing the need for strategic adjustments to regain its footing in the Ontario capsules market.
Notable Products
In December 2024, the top-performing product from Mood Ring was High CBD Oil (30ml), which climbed to the number one rank with sales reaching 203 units, a significant increase from its third rank in November. High CBD Capsules 30-Pack (900mg CBD) maintained its strong performance, holding the second position despite a notable decrease in sales. High THC Oil (30ml) secured the third spot, showing a consistent presence in the top three since October. High THC Capsules 30-Pack (300mg) experienced a decline, dropping to fourth place from its previous first place in September and October. LA Wedding Pop (3.5g), a new entry, made an impressive debut in the fifth position, highlighting a growing interest in the Flower category.
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.
