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Oct-2024
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Overview
Market Insights Snapshot
Foray has demonstrated varied performance across different categories and provinces, indicating its dynamic presence in the Canadian cannabis market. In Alberta, the brand's vapor pens have experienced a slight decline in rankings, moving from 16th position in July to 21st by October. This downward trend in Alberta is mirrored by a decrease in sales, suggesting a potential challenge in maintaining market share in the vapor pen category. Meanwhile, in British Columbia, Foray's edible products have maintained a consistent ranking at 15th place, reflecting a steady demand. However, their vapor pens have seen a gradual decline from 14th to 16th place, which could indicate increased competition or shifting consumer preferences in the province.
In Ontario, Foray's edible products have held a strong and consistent position at 7th place over the past four months, showcasing their robust performance in this category. This stability is accompanied by an upward trend in sales, suggesting growing consumer interest. On the other hand, Foray's vapor pens in Ontario have fluctuated slightly, though they managed to maintain their 20th ranking in October after a brief improvement in August. In Saskatchewan, the brand's edibles showed some volatility, disappearing from the top 30 in August but rebounding to 8th place by October. Notably, Foray's vapor pens entered the Saskatchewan market rankings in October, securing the 26th position, which could be a promising development if this trend continues.
Competitive Landscape
In the Ontario edible cannabis market, Foray has maintained a consistent rank of 7th place from July to October 2024, indicating a stable performance amidst shifting competitive dynamics. Notably, Monjour has consistently outperformed Foray, holding a steady 5th place, while No Future has shown significant improvement, climbing from 9th to 6th place by October. This upward trend of No Future, coupled with Vortex Cannabis Inc. briefly surpassing Foray in September, highlights the competitive pressure Foray faces. Despite these challenges, Foray's sales have shown a positive trajectory, with a noticeable increase from August to October, suggesting effective strategies to sustain its market position. However, to enhance its competitive edge, Foray may need to innovate or diversify its offerings to counter the rising momentum of its competitors.
Notable Products
In October 2024, Foray's Blackberry Cream Distillate Disposable in the Vapor Pens category maintained its top position, demonstrating consistent performance across the months with sales of 14,758 units. The CBD/THC 1:1 Salted Caramel Chocolate Bar followed closely, remaining steady in second place, reflecting its stable consumer demand. The Edi's CBD Blood Orange Soft Chews 30-Pack held onto the third rank, showing a slight increase in sales from September to October. Notably, Fast Edi's CBD/CBN/THC Blackberry Lavender Soft Chews 30-Pack rose to the fourth position from fifth, indicating growing popularity. Meanwhile, the Indica Distillate Disposable dropped to fifth place, experiencing a decline in sales compared to previous months.
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.
