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Oct-2024
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Overview
Market Insights Snapshot
Decimal has shown a consistent presence in the Ontario market, particularly within the Capsules category. Over the past few months, Decimal maintained its position at 12th place from July through September 2024, before improving slightly to 11th in October. This steady ranking indicates a robust performance in a competitive market. While the sales figures saw a peak in August, with a slight decline in September and October, the brand's upward movement in rank suggests an effective strategy in retaining consumer interest and possibly expanding its market share.
It is noteworthy that Decimal did not appear in the top 30 brands for any other category or state, which could be seen as a limitation in its market reach. However, its focused performance in Ontario's Capsules category might reflect a strategic choice to dominate a niche market before broadening its horizons. The lack of presence in other markets or categories might indicate potential growth opportunities for Decimal, should it choose to diversify its offerings or expand geographically. The brand's current trajectory in Ontario provides a foundation upon which it could build future successes in other regions or product lines.
Competitive Landscape
In the Ontario capsules market, Decimal has shown a modest upward trend in its ranking, moving from 12th position in July through September 2024 to 11th in October 2024. This improvement in rank suggests a positive reception in the market, despite facing stiff competition from brands like Stigma Grow and C Minor, which consistently held higher ranks. Notably, Stigma Grow improved its position from 10th to 9th, while C Minor experienced a decline from 8th to 10th, indicating a dynamic competitive landscape. Meanwhile, Mood Ring dropped from 11th to 12th, which may have contributed to Decimal's rise. Although Decimal's sales figures have shown some fluctuations, the overall trend indicates a stable market presence, with room for growth as it continues to climb the ranks against its competitors.
Notable Products
In October 2024, Decimal's top-performing product was the THC Capsules 90-Pack (900mg) in the Capsules category, maintaining its first-place rank since July despite a slight decrease in sales to 390 units. The CBD Capsules 90-Pack (1800mg CBD) showed a notable improvement, climbing to second place with a significant sales increase to 132 units, compared to its fourth place the previous month. The CBD:THC 1:1 Balance Softgels 30-Pack (150mg CBD, 150mg THC) dropped to third place, continuing its steady presence in the top three despite fluctuating sales. In contrast, the THC 10 Softgels 30-Pack (300mg) held its position at fourth place, experiencing a significant drop in sales. Overall, the rankings indicate a strong preference for high-potency capsule products among consumers, with some shifts in preferences for CBD-dominant options.
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.
