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Oct-2024
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Overview
Market Insights Snapshot
In examining the performance of 7 Acres across various categories and provinces, notable trends emerge, particularly in Alberta. The brand's presence in the Beverage category saw a decline as it failed to maintain a top 30 ranking in October 2024, despite holding the 12th and 13th spots in August and September, respectively. In contrast, the Pre-Roll category has been a source of strength, with 7 Acres consistently improving its ranking, moving from 57th in July to 53rd by October, alongside a significant increase in sales. The Vapor Pens category presents a mixed picture, with the brand re-entering the rankings at 52nd in September but dropping to 65th in October, suggesting potential volatility or shifting consumer preferences.
Turning to British Columbia and Ontario, 7 Acres' performance varies across categories. In British Columbia, the Flower category experienced a notable decline, dropping from 33rd place in August to 80th in October, indicating potential challenges in market positioning or competition. Meanwhile, in Ontario, the Vapor Pens category shows a positive trajectory, with the brand improving its ranking from 92nd in July to 68th in October, reflecting a potential growth opportunity. However, the Pre-Roll category in Ontario saw 7 Acres drop out of the top 30 by September, highlighting potential areas for strategic adjustments. These movements underscore the brand's dynamic performance across different regions and categories, offering insights into areas of strength and those requiring focus.
Competitive Landscape
In the competitive landscape of the Pre-Roll category in British Columbia, 7 Acres has experienced a notable decline in its ranking over the past few months, dropping from 18th place in July 2024 to 38th by October 2024. This downward trend in rank is mirrored by a decrease in sales, suggesting a potential loss of market share. Meanwhile, competitors like Woody Nelson have shown a positive trajectory, climbing from 68th to 41st place, with a corresponding increase in sales, indicating growing consumer preference. Similarly, Tasty's (CAN) has improved its position from 43rd to 35th, reflecting a strengthening market presence. Despite 7 Acres' challenges, brands like Happy Hour have also seen improvements, moving from 49th to 37th, suggesting a competitive environment where consumer preferences are rapidly shifting. This dynamic market scenario highlights the need for 7 Acres to reassess its strategies to regain its competitive edge.
Notable Products
In October 2024, 7 Acres' Jack Haze Pre-Roll 2-Pack (1g) maintained its position as the top-performing product, consistently ranking first throughout the past four months, with sales reaching 21,005 units. The Purple Slurricane Infused Pre-Roll 3-Pack (1.5g) held steady in the second position, showing a slight increase in sales compared to September. The THC/CBG 1:1 Cafe Vanilla Delight Beverage (10mg THC, 10mg CBG 355ml) remained in third place, although its sales figures continued to decline month-over-month. Ultra Jack (7g) consistently ranked fourth, with a noticeable drop in sales from August to October. Purple Pancakes Pre-Roll 2-Pack (1g) returned to the rankings in October, securing the fifth position after being unranked in August.
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.
