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Oct-2024
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Overview
Market Insights Snapshot
Deep Space has shown varied performance across Canadian provinces in the beverage category. In Alberta, the brand consistently maintained a top 10 position, ranking 8th in July, August, and October, with a slight dip to 9th in September. Despite this stable ranking, there was a noticeable decline in sales from July to October, indicating potential market challenges or increased competition. In contrast, Ontario presented a more volatile landscape for Deep Space. The brand's rank dropped steadily from 17th in July to 23rd by October. This decline in ranking, coupled with a significant reduction in sales, suggests that Deep Space is facing stiffer competition or possibly a shift in consumer preferences within the province.
In Saskatchewan, Deep Space achieved a commendable 9th place in July, but the absence of rankings in subsequent months indicates that the brand fell out of the top 30. This drop-off could be a red flag, highlighting potential issues in maintaining market presence or adapting to local consumer trends. The brand's performance across these provinces underscores the dynamic nature of the cannabis beverage market, where maintaining positioning requires constant adaptation and strategic marketing. The varying trajectories across provinces offer insights into regional market dynamics and consumer behavior, suggesting areas where Deep Space might need to focus its efforts to regain or bolster its market share.
Competitive Landscape
In the competitive landscape of the beverage category in Alberta, Deep Space has maintained a consistent presence, showing resilience amidst fluctuating market dynamics. Over the past few months, Deep Space has held steady at the 8th rank in July and August 2024, briefly dropping to 9th in September before regaining its 8th position in October. This stability is noteworthy, especially when compared to competitors like Summit (Canada), which saw a decline from 9th to 10th rank between August and September, and Solei, which remained static at the 11th position throughout the same period. Meanwhile, Sense & Purpose Beverages and Bubble Kush have consistently outperformed Deep Space, maintaining higher ranks. Despite these challenges, Deep Space's ability to recover its rank in October suggests a potential for upward momentum, making it a brand to watch in the coming months.
Notable Products
In October 2024, the top-performing product from Deep Space was the Propulsion - THC/CBG 1:1 Pulsar Peach Soda, maintaining its number one rank from September with sales of 4860 units. The Propulsion - THC:CBG 1:1 Cosmic Cherry Lime Soda held steady at the second position, showing a slight increase in sales compared to the previous month. The Orange Orbit Beverage climbed to third place in October, improving from its fourth rank in September. Meanwhile, the Deep Space Carbonated Beverage slipped to fourth place, down from third in previous months. A new entry, Limon Splashdown Carbonated Beverage, emerged in fifth place, marking its first appearance in the rankings.
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.
