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Sep-2024
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Overview
Market Insights Snapshot
In the province of Ontario, Decimal has shown a consistent presence in the Capsules category, maintaining its ranking at 12th position from July through September 2024. This steady position indicates a solid foothold in the market, despite the competitive nature of the cannabis industry. The brand's sales figures in Ontario reflect a positive trajectory, with a notable increase from June to August, suggesting a growing consumer base or enhanced distribution strategies. However, the slight dip in September sales could be an area for further analysis to understand if this is a seasonal trend or an anomaly.
While Decimal's performance in Ontario's Capsules category is commendable, the absence of rankings in other states or categories could indicate areas where the brand is either not present or not performing within the top 30. This could be perceived as a missed opportunity, especially in markets with high consumer demand. The lack of presence in these rankings might prompt Decimal to explore expansion strategies or product diversification to capture a larger market share. Understanding the dynamics of these unranked markets could provide valuable insights into potential growth areas for the brand.
Competitive Landscape
In the Ontario capsules market, Decimal has shown a consistent upward trend in its ranking over the past few months, moving from 13th place in June 2024 to a stable 12th place from July to September 2024. This improvement in rank is indicative of Decimal's growing presence and competitiveness in the market. Notably, Decimal's sales have seen a significant increase, particularly from July to August 2024, which suggests effective marketing strategies or product offerings that resonate well with consumers. In contrast, Stigma Grow has maintained a steady 10th position, while Mood Ring remains consistently at 11th place, both showing less fluctuation in sales compared to Decimal. Meanwhile, Pennies and Spring Hill Cannabis Co. have not shown significant rank changes, indicating a more static market position. Decimal's ability to climb the ranks and boost sales suggests a promising trajectory in the competitive landscape of Ontario's cannabis capsules category.
Notable Products
In September 2024, Decimal's top-performing product was THC Capsules 90-Pack (900mg), maintaining its leading position for the third consecutive month with a notable sales figure of 344 units. The CBD:THC 1:1 Balance Softgels 30-Pack (150mg CBD, 150mg THC) secured the second spot, consistently holding this rank since July. THC 10 Softgels 30-Pack (300mg) climbed to third place, up from its consistent fourth position in previous months, indicating a rise in popularity. Meanwhile, CBD Capsules 90-Pack (1800mg CBD) experienced a decline, dropping to fourth place after maintaining the third position from June to August. These rankings highlight a stable demand for THC-dominant products in Decimal's lineup.
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.
