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Sep-2024
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Overview
Market Insights Snapshot
Favours has shown a consistent presence in the beverage category in Alberta over the past few months, maintaining a steady ranking around the mid to high teens. Starting in June 2024 at rank 17, Favours experienced a slight decline in its position over the subsequent months, moving to rank 19 by September 2024. This movement, while not drastic, indicates a competitive market environment where Favours is holding its ground but facing challenges in climbing higher in the rankings. The sales figures reflect this trend, with a gradual decrease from June to September, suggesting that while Favours remains a recognized brand, there is room for growth and improvement in market share.
Interestingly, Favours did not break into the top 30 brands in other states or provinces within the beverage category during this period. This absence highlights a potential area for expansion and increased brand visibility outside of Alberta. The brand's consistent performance in Alberta suggests a strong foundation that could be leveraged to explore new markets. However, the lack of presence in other regions also underscores the competitive nature of the beverage category and the challenges that Favours might face in expanding its footprint. As the brand evaluates its strategies, understanding the dynamics of different markets will be crucial for positioning itself effectively and gaining traction in new areas.
Competitive Landscape
In the Alberta beverage category, Favours has experienced a noticeable shift in its competitive positioning over the past few months. Starting from June 2024, Favours was ranked 17th, maintaining this position in July before slipping to 18th in August and further to 19th in September. This downward trend in rank correlates with a decline in sales, from a peak in June to a significant drop by September. In contrast, HYTN initially held a strong position at 9th in June but saw a decline to 17th by September, indicating a more volatile performance. Meanwhile, Ace Valley consistently hovered around the 18th position, showing a stable yet modest presence. Notably, Sheeesh! emerged in the rankings in August at 16th, suggesting a potential new competitor on the rise. These dynamics highlight the competitive pressures Favours faces, emphasizing the need for strategic adjustments to regain and maintain a stronger market position in Alberta's beverage sector.
Notable Products
In September 2024, the top-performing product for Favours was the Peach Mixer Drink Shot, maintaining its position as the number one ranked product with sales of 719 units. The Lemon Beverage Shot secured the second spot, showing a consistent performance by retaining its rank from the previous month. The Berry Mixer Shot, although experiencing a drop in sales, held the third position, falling from its previous top rank in June and July. Notably, the Peach Mixer Drink Shot has demonstrated a strong performance, consistently ranking first in three out of the four months analyzed. These rankings highlight the popularity of the beverage category within Favours' product 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.
