Oct-2024
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Overview
Market Insights Snapshot
Peace Naturals has shown varying performance across different categories and states/provinces, particularly in the Oil category. In Alberta, the brand maintained a consistent rank of 11th from July to September 2024, before dropping to 13th in October. This decline in ranking coincided with a notable decrease in sales, suggesting potential market challenges or increased competition. Meanwhile, in Ontario, Peace Naturals experienced a slight fluctuation in rankings, moving from 20th in July to 17th in August, and then settling back to 19th in both September and October. The sales figures in Ontario, however, remained relatively stable, indicating a more resilient market presence compared to Alberta.
Despite not making it into the top 30 brands in certain states and categories, Peace Naturals' performance in the Oil category across Alberta and Ontario highlights strategic positioning and market dynamics. The brand's consistent presence in the top 20 in Ontario suggests a steady consumer base, even though it did not see significant upward movement in rankings. Conversely, the drop in Alberta's rankings and sales in October may point to emerging challenges or shifts in consumer preferences. These insights could be crucial for understanding how Peace Naturals might adjust its strategies in different markets to enhance its competitive edge and market share.
Competitive Landscape
In the competitive landscape of the oil category in Ontario, Peace Naturals has shown resilience, maintaining a steady presence in the rankings from July to October 2024. Despite fluctuating sales, Peace Naturals improved its rank from 20th in July to 17th in August, though it slightly dropped to 19th in September and remained stable in October. This consistency is notable given the competitive pressure from brands like Solei, which experienced a more dynamic shift, ranking as high as 15th in September. Meanwhile, C Minor saw a downward trend, dropping from 13th in July to 18th in October, indicating potential opportunities for Peace Naturals to capture market share. Additionally, Feather re-entered the top 20 in October, highlighting the fluid nature of this market. As Peace Naturals continues to navigate these competitive waters, understanding these dynamics can provide strategic insights for maintaining and improving its market position.
Notable Products
In October 2024, Peace Naturals' top-performing product was CBD Peppermint 75 Oil (25ml), maintaining its number one rank despite a decrease in sales to 851 units. Blue Dream (3.5g) held onto its second-place ranking, showing a slight increase in sales compared to September. Blueberry (3.5g) climbed to the third position with notable sales growth, moving up from fifth place in September. GMO Cookies (3.5g) remained consistent at fourth place, while CBD 25 Peppermint Oil (25ml) re-entered the rankings at fifth place after being unranked in September. This indicates a stable performance for the top oils and a slight reshuffling among the flower products.
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.