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Aug-2024
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Overview
Market Insights Snapshot
Solei has shown a varied performance across different categories and provinces. In Alberta, Solei's ranking in the Beverage category has been relatively stable, moving from 16th in May to 14th in June and July, before returning to 16th in August. However, they did not make it into the top 30 brands in the Capsules category after June, indicating a potential area of concern. In the Pre-Roll category, Solei saw significant improvement, jumping from 77th in May to 50th in August. This upward trend in Pre-Rolls is noteworthy, especially when compared to their consistent 12th place ranking in the Oil category throughout the months.
In Ontario, Solei's performance in the Beverage category has been strong, ascending from 12th place in May to 10th in August. This positive movement is contrasted by their Oil category ranking, which fell from 13th in May to 19th in August. Notably, Solei did not make it into the top 30 for Pre-Rolls in Ontario, except for a brief appearance at 93rd in August, suggesting a potential area for growth. Meanwhile, in Saskatchewan, Solei performed exceptionally well in the Topical category, holding the top spot in August after starting at 2nd in May. Their Beverage category performance in Saskatchewan also showed promise, maintaining a steady 5th place ranking from June to August.
Competitive Landscape
In the competitive landscape of the Ontario cannabis beverage market, Solei has shown notable fluctuations in its rank over the past few months. Despite a dip in July 2024, where it fell to 13th place, Solei managed to climb back to 10th place by August 2024. This recovery is significant, especially when compared to competitors like RIFF, which consistently maintained higher ranks, peaking at 8th place in August 2024. Meanwhile, Green Monke demonstrated a volatile but upward trend, surging from 16th place in May 2024 to 9th place in June 2024, before stabilizing around 11th place in August 2024. Bubble Kush also showed a strong upward trajectory, moving from 18th place in June 2024 to 9th place by August 2024. Solei's ability to regain its rank amidst such dynamic competition indicates resilience and a potential for sustained growth, especially as it continues to compete closely with brands like Vacay, which hovered around the middle ranks. These insights suggest that while Solei faces stiff competition, its recent performance indicates a positive trend that could be leveraged for future marketing and sales strategies.
Notable Products
In August 2024, the top-performing product from Solei was the CBD Mango Passionfruit Sparkling Beverage (25mg CBD), maintaining its first-place ranking with sales of 11,088 units. Following closely in second place was the CBD Dragonfruit Watermelon Sparkling Water (25mg CBD), which also retained its consistent ranking from previous months. The CBG:THC 2:1 Peach Cranberry Cold Brew Tea (10mg CBG, 5mg THC, 12oz) held steady in third place. The Slims - Balance Pre-Roll 10-Pack (4g) and Slims - Free Pre-Roll 10-Pack (4g) ranked fourth and fifth, respectively, showing slight improvements in sales figures compared to previous months. Overall, the rankings for Solei's top products have remained stable, with incremental growth in sales.
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.
