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Aug-2024
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Overview
Market Insights Snapshot
Virtue Cannabis has shown a mixed performance across various categories and states/provinces over recent months. In Alberta, the brand has made notable progress in the Flower category, climbing from a rank of 35 in May 2024 to 28 in August 2024. This upward trend indicates a strengthening market presence, with sales increasing from $193,644 to $234,593 over the same period. However, the Pre-Roll category in Alberta tells a different story, where Virtue Cannabis has seen a decline, dropping from rank 25 in May to 31 in August, accompanied by a decrease in sales. This contrasting performance highlights the brand's varied success across different product lines within the same market.
Shifting focus to British Columbia, Virtue Cannabis has struggled to make a significant impact in the Flower category, not ranking within the top 30 brands in any of the reported months. This lack of presence suggests challenges in gaining market share in this specific category within the province. On the other hand, the Pre-Roll category shows some positive movement, with the brand improving from rank 95 in July to 80 in August 2024. Despite this improvement, the sales figures in British Columbia remain relatively modest compared to Alberta, indicating room for growth and a need for strategic adjustments to enhance market penetration.
Competitive Landscape
In the competitive landscape of the flower category in Alberta, Virtue Cannabis has shown notable fluctuations in rank and sales over the past few months. Starting from a rank of 35 in May 2024, Virtue Cannabis improved to 31 in June, dipped slightly to 33 in July, and then made a significant leap to 28 in August. This upward trend is indicative of a positive reception and growing market presence. In comparison, Canaca maintained a relatively stable yet declining position, moving from 23 in May to 27 in August, suggesting a potential loss of market share. Craftport and 3Saints have shown more stability, with Craftport holding steady around the 29th rank and 3Saints improving from 39 to 30. Meanwhile, Tommy's Craft Cannabis saw a slight decline from 23 in July to 26 in August. The competitive dynamics suggest that Virtue Cannabis is gaining traction, potentially at the expense of brands like Canaca, while other competitors like Craftport and 3Saints maintain a steadier course. For a deeper dive into these trends and more detailed data, advanced analytics can provide further insights.
Notable Products
In August 2024, the top-performing product from Virtue Cannabis was Galactic Glue Blunt (1g) in the Pre-Roll category, maintaining its top position with sales of $1806. Watermelon Mjto Ice Infused Pre-Roll 5-Pack (2.5g) climbed to second place from its consistent fourth rank in the previous months. Galactic Glue (28g) in the Flower category rose to third place, showing a significant improvement from its fifth-place ranking in June and July. Liger Blood Infused Pre-Roll 5-Pack (2.5g) dropped to fourth position after leading in July. Peachy Pom Bellinii Infused Pre-Roll 5-Pack (2.5g) saw a decline, falling to fifth place from its previous top ranks in May and June.
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.
