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Oct-2024
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Overview
Market Insights Snapshot
Green Monke has demonstrated notable performance in the Beverage category across different provinces in Canada. In British Columbia, Green Monke has shown a positive trend, climbing from the 9th position in August 2024 to securing the 5th spot by September and maintaining this rank through October. This upward movement is indicative of a strong market presence and growing consumer preference. Conversely, in Ontario, the brand has maintained a steady position, staying within the 10th to 12th rank range over the months from July to October 2024. While the consistency in Ontario suggests a stable customer base, the lack of upward movement could imply intensified competition or a need for strategic market adjustments.
Interestingly, the sales figures for Green Monke in British Columbia reflect a dynamic shift, with a significant spike in September 2024, where sales reached 87,810, before dropping in October. Such fluctuations might point to seasonal factors or promotional activities that temporarily boosted sales. In contrast, Ontario's sales figures reveal a more stable trajectory with minor fluctuations, suggesting a more consistent demand. The absence of Green Monke in the top 30 rankings in other states or provinces could be seen as a gap in market reach, presenting potential opportunities for expansion or areas requiring strategic focus to boost brand visibility and sales performance.
Competitive Landscape
In the competitive landscape of the Beverage category in Ontario, Green Monke has experienced a relatively stable performance, maintaining its rank around the 10th to 12th position from July to October 2024. Despite a slight dip in sales during September, Green Monke's October sales showed a positive rebound, indicating resilience in a competitive market. Notably, Solei has consistently outperformed Green Monke, climbing to the 9th position in August and maintaining a higher sales volume throughout the period. Meanwhile, RIFF has seen a decline in both rank and sales, dropping from 9th to 13th place by October, which could present an opportunity for Green Monke to capture some of RIFF's market share. Additionally, TeaPot has shown a notable upward trend, surpassing Green Monke in October, which suggests a rising competitor to watch. Overall, Green Monke's consistent ranking amidst fluctuating competitors highlights its stable presence in the Ontario beverage market, but also underscores the need for strategic initiatives to improve its competitive edge.
Notable Products
In October 2024, the top-performing product for Green Monke was the CBD/THC 2:1 Mango Guava Sparking Soda, maintaining its number one rank from previous months with a sales figure of 7,944 units. The CBD/THC 2:1 Tropical Citrus Sparking Soda climbed to the second position, showing consistent performance with a slight dip in sales compared to September. The CBD/THC 2:1 Orange Passionfruit Sparkling Soda slipped to third place, experiencing a notable decrease in sales from the previous month. The CBD:THC 2:1 Blue Raspberry Sparkling Beverage held steady at fourth place, maintaining its rank from September. Finally, the CBD/THC 2:1 Tropical Citrus Sparking Soda with a higher dosage remained in fifth place, showing a slight increase in sales from September.
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.
