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Oct-2024
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Overview
Market Insights Snapshot
Good Buds has experienced varied performance across different categories and regions in recent months. In Alberta, their Flower category has seen a decline, dropping out of the top 30 by October 2024, which may indicate a need for strategic adjustments. Conversely, the Pre-Roll category in Alberta has shown some resilience, moving from a rank of 62 in September to 49 in October, suggesting a potential area of focus for bolstering sales. This movement highlights the volatility and competitive nature of the market, where even a slight shift in consumer preference can significantly impact brand rankings.
In British Columbia, Good Buds has demonstrated a more promising trajectory in the Concentrates category, climbing from 27 in July to 21 by October. This upward trend could be indicative of growing consumer interest or successful marketing efforts in this category. The Flower segment in British Columbia also saw notable improvement, especially between August and September, jumping from rank 62 to 32, before stabilizing slightly to 31 in October. Such movements suggest that while challenges exist, opportunities for growth and increased market share are present, particularly in the Concentrates and Flower categories.
Competitive Landscape
In the competitive landscape of the Flower category in Alberta, Good Buds has experienced a notable decline in rank from July to October 2024, moving from 21st to 36th position. This drop in rank is mirrored by a decrease in sales, which fell from a high in July to a significantly lower figure by October. In contrast, 3Saints has shown a more dynamic performance, climbing from 33rd to 25th in September before settling at 35th in October, with sales peaking in September. Meanwhile, Castle Rock Farms made a remarkable leap from being unranked in July to 34th in October, indicating a strong upward trend in sales. Brands like Simply Bare and Carmel have maintained relatively stable positions, though Carmel experienced a temporary boost in September. The competitive pressure from these brands, especially those with rising sales and improving ranks, highlights the challenges Good Buds faces in retaining its market position in Alberta's Flower category.
Notable Products
In October 2024, the top-performing product for Good Buds was the Gluerangutan Pre-Roll 7-Pack (3.5g) in the Pre-Roll category, which climbed from fourth place in September to first place, with sales reaching 6983 units. The Mango Cake Pre-Roll 2-Pack (1g) maintained its second-place ranking from September, showing consistent performance in the Pre-Roll category. The Gluerangatan (7g) in the Flower category held steady in third place, indicating stable demand. Pink Cake Pre-Roll 2-Pack (1g) experienced a drop from first to fourth place, suggesting a shift in consumer preference. Notably, the Gluerangutan Pre-Roll 2-Pack (1g) entered the rankings for the first time at fifth place, showcasing potential growth in its category.
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.
