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Nov-2024
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Overview
Market Insights Snapshot
In the Canadian cannabis market, Deep Space has maintained a notable presence in the Beverage category, particularly in Alberta. Consistently holding the 8th rank from August through November 2024, the brand has shown resilience despite a slight dip in sales from August to October before a minor recovery in November. This stability in ranking suggests a strong brand loyalty and a steady consumer base. In contrast, the situation in Ontario presents a different narrative. Deep Space experienced a gradual decline in its ranking, slipping from 19th in August to 23rd by October and maintaining that position into November. This downward trend in Ontario, coupled with decreasing sales figures, indicates potential challenges in market penetration or competition from other brands.
It is noteworthy that Deep Space did not appear in the top 30 brands in any other state or province for the Beverage category during these months, which could be seen as a limitation in their market reach beyond Alberta and Ontario. The absence from other markets might be a strategic decision or a sign of the brand's concentrated efforts in these two provinces. While the sales figures provide a glimpse into the brand's performance, they also hint at underlying market dynamics such as consumer preferences and competitive pressures. Understanding these trends could be crucial for stakeholders looking to capitalize on growth opportunities or counteract potential threats in the cannabis beverage market.
```Competitive Landscape
In the competitive landscape of the beverage category in Alberta, Deep Space has maintained a steady position, consistently ranking 8th from August to November 2024. Despite facing strong competition, Deep Space has managed to hold its ground, showcasing resilience in a dynamic market. Notably, Sense & Purpose Beverages has consistently ranked higher at 7th place, indicating a stable consumer preference, while Bubble Kush has maintained a stronger position at 6th, with sales significantly higher than Deep Space. Meanwhile, Summit (Canada) and Solei have shown fluctuations in their rankings, with Summit moving between 9th and 10th place, and Solei consistently at 11th. This competitive environment suggests that while Deep Space is performing well, there is room for strategic initiatives to climb higher in the rankings and capture a larger market share.
Notable Products
In November 2024, the top-performing product for Deep Space was Propulsion - THC/CBG 1:1 Pulsar Peach Soda, maintaining its number one rank from previous months with a sales figure of 5212 units. Propulsion - THC:CBG 1:1 Cosmic Cherry Lime Soda also held steady in second place, showcasing consistent performance. The Orange Orbit Beverage climbed to third place in October and maintained that position in November, despite a gradual decrease in sales. Deep Space Carbonated Beverage remained in fourth place for two consecutive months, showing a slight decline in sales. Limon Splashdown Carbonated Beverage entered the rankings in October at fifth place and retained this position in November, though with lower sales figures.
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.
