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Oct-2024
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Overview
Market Insights Snapshot
Collective Project has demonstrated varying performance across different categories and regions, with notable trends in the beverage sector. In British Columbia, the brand has consistently held a position just outside the top ten, ranking 12th in both September and October 2024. However, a steady decline in sales from July to October suggests potential challenges in maintaining market share. Conversely, in Ontario, Collective Project has consistently performed well in the beverage category, maintaining a robust 3rd place ranking in July, September, and October, with only a slight dip to 5th place in August. This indicates a strong foothold in the Ontario beverage market, despite the fluctuations in sales figures over the months.
In the edible category, Collective Project's performance in Ontario has been less impressive, consistently ranking 27th over the last few months. This stagnant position suggests challenges in breaking into the top tier of the edible market, possibly due to stronger competition or less consumer preference for their edible offerings. The absence of Collective Project from the top 30 in other states and categories could be seen as a missed opportunity for expansion or a strategic focus on specific markets. These insights reveal the brand's strengths in beverages but also highlight areas for potential growth and improvement in the edible category.
Competitive Landscape
In the Ontario cannabis beverage market, Collective Project has maintained a stable position, consistently ranking third in July, September, and October 2024, with a slight dip to fifth place in August. This fluctuation indicates a resilient performance amidst competitive pressures. The brand's sales trajectory shows a recovery from August's decline, aligning with its regained third-place ranking by October. In contrast, XMG has dominated the market, holding the top rank consistently, while Versus has secured the second position throughout the same period. Phresh Cannabis Beverages and Mollo have shown competitive dynamics, with Phresh maintaining a close competition with Collective Project, ranking third in August, and Mollo fluctuating between fourth and sixth positions. These insights suggest that while Collective Project remains a strong contender, it faces significant competition from both established leaders and emerging brands in the Ontario market.
Notable Products
In October 2024, the top-performing product from Collective Project was the CBD/THC 1:1 Original Blood Orange, Yuzu & Vanilla Sparkling Juice, maintaining its number one rank consistently since July with sales of 19,093 units. The Day Tripper CBD/THC 1:1 Raspberry and Vanilla Sparkling Juice held its position at rank two, showing stability from September. Happy Place CBG/THC 1:2 Mango Peach & Yuzu Juice Sparkling Beverage made a notable leap to rank three, having not been ranked in September. Island Time CBD/THC 1:1 Mango Pineapple & Coconut Sparkling Juice dropped one spot to fourth place, continuing a downward trend from July. Squeezed THC/CBG 1:2 Heat Wave Strawberry Lemonade Sparkling Beverage remained steady at fifth, showing a consistent performance since 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.
