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Aug-2024
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Overview
Market Insights Snapshot
Spot has shown a noteworthy performance trajectory in the Edible category across different states. In Ontario, Spot has made a steady climb in the rankings over the past few months, moving from 31st in May 2024 to 27th in August 2024. This upward trend is complemented by a substantial increase in sales, with August figures reaching $23,199, up from $11,870 in May. This consistent improvement indicates growing consumer acceptance and market penetration in Ontario, which could be a promising sign for Spot's future in this region.
In contrast, Spot's performance in Washington has been less optimistic. The brand started at 27th place in May 2024 but fell out of the top 30 by August, indicating a decline in market presence. This drop is mirrored by a significant decrease in sales, from $32,135 in May to $11,969 in July. The absence from the top 30 rankings in the subsequent months is a concerning development, suggesting challenges in maintaining market share and consumer interest in Washington. The differing performances in Ontario and Washington highlight the varying dynamics and competitive landscapes in different regions.
Competitive Landscape
In the Ontario Edible market, Spot has shown a consistent upward trend in rank over the past four months, moving from 31st in May 2024 to 27th in August 2024. This positive shift in rank indicates a growing acceptance and popularity among consumers, likely driven by effective marketing strategies and product quality. In comparison, Even Cannabis Company has seen fluctuating ranks, ending August 2024 at 29th, which suggests a less stable market position. Indiva has maintained a relatively stable rank at 26th, indicating steady performance but not significant growth. Meanwhile, Collective Project experienced a slight decline, dropping from 27th in May to 28th in August, which could signal challenges in maintaining consumer interest. Kinloch Wellness has consistently ranked higher, staying within the 24th to 26th range, showing strong market presence. Spot's upward trajectory in rank and sales growth positions it favorably against these competitors, suggesting potential for continued market share gains in the Ontario Edible category.
Notable Products
For August 2024, the top-performing product from Spot is the CBG:THC 4:1 Gooseberry Soft Chews 2-Pack (40mg CBG, 10mg THC), maintaining its first-place ranking for the fourth consecutive month with notable sales of 4714 units. The Levity Blend - CBD/THC 10:3 Hybrid Dark Chocolate Bar 10-Pack (100mg CBD, 30mg THC) has moved up to the second position from third in July 2024. Raspberry Soft Chews 2-Pack (10mg) has consistently improved its ranking, now in third place, up from fourth in the previous two months. The Adventure Blend - CBD/THC 3:10 Sativa Dark Chocolate Bar 10-Pack (30mg CBD, 100mg THC) has seen a significant drop to fourth place from its consistent second-place ranking in June and July 2024. Lastly, the Strawberry Fruit Chew 10-Pack (100mg) has entered the top five for the first time in August 2024.
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.
