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Aug-2024
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Overview
Market Insights Snapshot
Terra Labs has experienced varied performance across different categories and regions, particularly in British Columbia. For instance, in the Concentrates category, Terra Labs managed to secure the 30th position in May 2024 but did not rank in the top 30 in June and August, indicating a drop in market presence. Similarly, the Pre-Roll category saw a steady decline from 38th position in May to 51st in August. This trend suggests that Terra Labs is facing challenges in maintaining its market share in British Columbia, especially in categories where competition is fierce. Notably, the Vapor Pens category also reflects a downward trend, moving from 33rd in May to 41st in August, which could be a signal for the brand to reassess its strategies in this market.
In Ontario, Terra Labs shows a slightly different pattern. The brand did not appear in the top 30 for the Concentrates category in any of the months from May to August, highlighting a significant gap in market penetration. In the Pre-Roll category, Terra Labs did not rank within the top 30, with the closest being the 67th position in July. However, there was a slight improvement in Vapor Pens, where the brand moved from 81st in July to 72nd in August, indicating a potential upward trend. This mixed performance across categories suggests that while Terra Labs faces challenges in some areas, there are opportunities for growth and improvement, particularly in the Vapor Pens category in Ontario.
Competitive Landscape
In the competitive landscape of the Pre-Roll category in Ontario, Terra Labs has shown notable fluctuations in rank and sales over the past few months. Terra Labs maintained a steady rank of 77 in both May and June 2024 but saw an improvement to 67 in July before slightly declining to 72 in August. This indicates a competitive but volatile market position. In comparison, Lord Jones consistently ranked lower, fluctuating between 71 and 83, suggesting a weaker market presence. Potluck demonstrated a stronger upward trend, improving from 88 in May to 70 in August, which could pose a competitive threat to Terra Labs. Meanwhile, BC Doobies showed a steady rise, ending at rank 68 in August, indicating a growing market share. Additionally, Community Cannabis c/o Purple Hills entered the top 20 in June and improved to rank 76 by August, highlighting emerging competition. These dynamics suggest that while Terra Labs has a solid foothold, it must remain vigilant and adaptive to maintain and improve its market position amidst rising competitors.
Notable Products
In August 2024, the top-performing product for Terra Labs was Lemon Heads Infused Pre-Roll 3-Pack (1.5g), maintaining its number one rank with a notable sales figure of 4142. Strawberry Tsunami Diamond Infused Pre-Roll 5-Pack (2.5g) held steady in the second position, consistent with its ranking in July 2024. Lemonade Lava Diamond Infused Pre-Roll 5-Pack (2.5g) entered the rankings at third place, showing a strong debut. Lemonade Lava Diamond Infused Pre-Roll 3-Pack (1.5g) moved up to fourth place from its previous fifth position in July 2024. Finally, GMO Infused Pre-Roll (1g) appeared in the rankings for the first time, securing the fifth spot.
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.
