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Aug-2024
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Overview
Market Insights Snapshot
Over the past few months, Ovis has shown notable performance in the Capsules category within Alberta. The brand has consistently maintained a strong presence, ranking within the top 5 brands from May to August 2024. This stability suggests a robust demand and a loyal customer base for their Capsules product line. Although there was a dip in sales in July, the brand quickly recovered in August, indicating resilience and effective market strategies. The steady ranking amidst fluctuating sales figures highlights Ovis's ability to retain its market position even when facing minor setbacks.
Interestingly, Ovis's absence from the top 30 brands in any other categories or states for the same period could be seen as a potential area for improvement. While their performance in Alberta's Capsules category is commendable, the lack of presence in other categories or states might suggest a need for diversification or expansion strategies. This limited footprint could either be a strategic focus on a niche market or a gap that competitors might exploit. Monitoring how Ovis addresses this in the coming months will be crucial for understanding their long-term market strategy and overall brand growth.
Competitive Landscape
In the Alberta market for cannabis capsules, Ovis has experienced notable fluctuations in its competitive positioning over the past few months. Despite holding a steady rank of 5th place in both May and August 2024, Ovis briefly climbed to 4th place in June before dropping back to 5th in July. This indicates a relatively stable but slightly volatile performance. In contrast, Glacial Gold has consistently dominated the top spot from June through August, while Stigma Grow has seen a slight decline from 1st in May to 3rd in August. Meanwhile, Dosecann and Frank have shown more significant rank changes, with Dosecann dropping from 4th to 7th and Frank rising from 9th to 4th before settling at 6th. These shifts suggest that while Ovis maintains a mid-tier position, it faces strong competition from both established leaders and emerging brands, making it crucial for Ovis to innovate and differentiate to improve its market share and rank.
Notable Products
In August 2024, the top-performing product for Ovis was the CBD:THC 10:10 Balanced Softgel 15-Pack (150mg CBD, 150mg THC) in the Capsules category, maintaining its first-place ranking consistently from May through August with sales of 2618 units. The Blue THC Softgel 15-Pack (150mg) also retained its second-place position throughout the same period, experiencing a notable sales increase to 1255 units in August. The CBG:CBD:THC 5:5:5 Softgels 15-Pack (75mg CBG, 75mg CBD, 75mg THC) held steady in third place, with a slight sales uptick to 176 units. The Blue THC Softgel 50-Pack (125mg) re-entered the rankings in fourth place after missing the July report, showing consistent sales performance. Lastly, the CBD:THC 1:1 Balanced Full Spectrum Softgels 30-Pack (150mg CBD, 150mg THC) climbed to fifth place in August, up from fourth in July, indicating a growing interest in this product.
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.
