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Nov-2024
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Overview
Market Insights Snapshot
Verse has experienced varied performance across different states and categories, reflecting both challenges and opportunities in its market strategy. In Alberta, the brand's presence in the Flower category has shown slight fluctuations, with rankings moving from 67th in August to 62nd in November. This indicates a consistent effort to climb higher in a competitive market, albeit with minor setbacks. Notably, Verse's sales in Alberta peaked in October, suggesting a potential seasonal demand or successful promotional efforts during that period. However, the brand has not yet secured a position within the top 30 in this category, which could indicate room for growth or a need to reassess market strategies.
In contrast, Ontario presents a different narrative for Verse in the Flower category. The brand's ranking has seen more pronounced shifts, moving from 68th in August to 59th in September, before dropping back to 68th by November. This volatility could point to a highly competitive landscape or varying consumer preferences. Despite these changes, Verse's sales figures in Ontario have remained relatively stable, though they did experience a decrease from September to November. The absence of a top 30 ranking in this province suggests that while Verse is maintaining a presence, there is significant opportunity to enhance its market position and capitalize on potential growth avenues.
Competitive Landscape
In the competitive landscape of the Flower category in Ontario, Verse has experienced fluctuating rankings over the months from August to November 2024, indicating a challenging market environment. Verse's rank shifted from 68th in August to 59th in September, only to drop back to 68th by November. This suggests that while there was a temporary improvement, sustaining higher rankings has been difficult. In comparison, Kolab maintained a relatively stable position, peaking at 49th in October before dropping to 67th in November, while Pistol and Paris showed a similar pattern, with a peak rank of 54th in October. Interestingly, Buddy Blooms demonstrated a consistent upward trend, improving from 94th in August to 73rd in November, suggesting a growing market presence. Despite these challenges, Verse's sales figures remained competitive, although slightly lower than some peers, indicating potential for growth if strategic adjustments are made to enhance market positioning.
Notable Products
In November 2024, BC God Bud (28g) retained its top position as the best-selling product from Verse, continuing its dominance from previous months despite a slight decrease in sales to 2568 units. Peach Dream 510 Thread Distillate Cartridge (1g) rose to second place, showcasing a significant jump in ranking and achieving notable sales figures. Okanagan Sugar Live Resin Badder (1g) climbed to third place, marking its entry into the top tier with increasing popularity. The Originals - Sunset Peach Distillate Cartridge (1g) debuted in the rankings at fourth, indicating a strong market entry. CBD Drops (20ml), previously holding the second spot, fell to fourth, showing a decline in sales momentum.
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.
