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Aug-2024
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Overview
Market Insights Snapshot
Phresh Cannabis Beverages has demonstrated consistent performance in the Beverage category within Ontario, maintaining a steady third-place ranking from May through August 2024. This stability in ranking suggests a solid market presence and consumer loyalty. Notably, the brand's sales have shown a positive upward trend, with a significant increase from $323,668 in June to $372,603 in August. This growth indicates successful market strategies and possibly an expansion of their product offerings or improved distribution channels.
However, Phresh Cannabis Beverages' absence from the top 30 brands in other states and categories could be seen as a missed opportunity for market expansion. The brand's strong performance in Ontario suggests a potential for growth if they can replicate their strategies in other regions. It might be beneficial for the brand to analyze the successful elements of their Ontario operations and consider tailored approaches to penetrate new markets. Understanding regional preferences and regulatory landscapes will be crucial for Phresh Cannabis Beverages to achieve similar success beyond Ontario.
Competitive Landscape
In the competitive landscape of cannabis beverages in Ontario, Phresh Cannabis Beverages has maintained a consistent rank of 3rd place from May 2024 through August 2024. This stability in rank suggests a solid market presence, but it also highlights the challenge of surpassing top competitors. XMG has firmly held the 1st position throughout the same period, with sales figures significantly higher than Phresh, indicating a dominant market lead. Meanwhile, Versus has consistently ranked 2nd, also outperforming Phresh in sales but by a smaller margin compared to XMG. Notably, Mollo and Sweet Justice have shown fluctuations in their ranks, with Mollo improving from 5th to 4th place and Sweet Justice dropping from 4th to 5th place. These shifts indicate potential vulnerabilities and opportunities for Phresh to capitalize on in the competitive Ontario beverage market.
Notable Products
In August 2024, the top-performing product for Phresh Cannabis Beverages was Blue Raspberry Sparking Water (10mg THC, 100ml), which sold 12,927 units and climbed to the number one position from the second rank in July. Summer Punch Sparkling Water (10mg THC, 355ml) secured the second spot with notable sales of 12,479 units, showing a significant improvement from its fourth rank in July. Strawberry Kiwi Sparking Water (10mg THC, 355ml), previously holding the top position for three consecutive months, dropped to third place. Grape Sparkling Water (10mg THC, 355ml) remained consistent at the fourth rank for two months in a row. Mango Peach Sparking Water (10mg THC, 355ml) maintained its fifth position, showing stable performance over the months.
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.
