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Oct-2024
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Overview
Market Insights Snapshot
Axea has shown a consistent presence in the Oil category within Ontario, maintaining a steady rank around the 8th position for most of the months analyzed. In October 2024, Axea returned to the 8th position after a slight dip to 10th in September, indicating a recovery in market performance. This upward trend aligns with an increase in sales from September to October, suggesting a positive reception to their offerings in the Oil category. Notably, the brand has not fallen out of the top 30 rankings in this category, which underscores its stable position in the competitive landscape of Ontario.
While Axea's performance in the Oil category in Ontario is commendable, the absence of data for other categories and states indicates potential areas where the brand may not be as competitive or has not yet established a significant market presence. The lack of top 30 rankings in other categories or regions could either reflect strategic market focus or areas for growth and expansion. This information highlights the importance of monitoring Axea's strategic moves and market entries in the coming months to better understand their overall market strategy and potential for growth across different regions and product categories.
Competitive Landscape
In the competitive landscape of the oil category in Ontario, Axea experienced a dynamic shift in its ranking and sales performance from July to October 2024. Despite maintaining a stable position in the top 10, Axea's rank fluctuated, dropping to 10th in September before recovering to 8th in October. This fluctuation is notable when compared to Glacial Gold, which consistently held the 6th position throughout the same period, indicating a stable and possibly more loyal customer base. Meanwhile, Twd. saw a decline from 7th to 11th, suggesting potential market share loss, which could be an opportunity for Axea to capture more sales. Additionally, Five Founders showed an upward trend, moving from 10th to 7th, highlighting a competitive pressure point for Axea. Overall, Axea's ability to rebound in October suggests resilience, but the brand must strategize to improve its market position against both stable and rising competitors.
Notable Products
In October 2024, Axea's top-performing product was the THC-Free Daytime CBD Isolate Oil (30ml), maintaining its first-place ranking for four consecutive months, with sales reaching 831 units. The CBN/CBD Nighttime THC-Free Isolate Oil (30ml) climbed to the second spot, marking a significant improvement from its previous third-place position in August and September, with a notable sales increase to 214 units. The CBD Frankincense Dead Sea Pink Himalayan Bath Salt (250mg CBD, 250g) held steady in third place, although its sales saw a decline compared to the previous months. The THC-Free Be Well CBG Isolate Oil (30ml) remained in fourth place, consistent with its September ranking. Lastly, the THC Pure Isolate Oil (30ml) re-entered the rankings in fifth place, after being unranked in July and September.
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.
