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Aug-2024
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Overview
Market Insights Snapshot
Homestead Cannabis Supply has exhibited a mixed performance across various categories and provinces over the past few months. In Alberta, the brand's presence in the Flower category has seen a significant decline, dropping from 43rd in May 2024 to 72nd in August 2024. This downward trend is accompanied by a notable decrease in sales figures, suggesting challenges in maintaining market share. In contrast, the brand has had a relatively stable presence in British Columbia, where it ranked 25th in May and 28th in August in the Flower category, although a slight dip in sales was observed.
In the Pre-Roll category in British Columbia, Homestead Cannabis Supply experienced significant fluctuations. The brand's rank improved from 98th in June to 58th in July, before slipping to 74th in August. This volatility indicates a competitive landscape and potential challenges in sustaining growth. Meanwhile, in Ontario, the brand's performance in the Flower category has been relatively low, with rankings consistently outside the top 80, indicating limited penetration in this market. However, the brand's entry into the Saskatchewan market in August 2024 at the 48th position in the Flower category suggests new opportunities for growth.
Competitive Landscape
In the competitive landscape of the Flower category in British Columbia, Homestead Cannabis Supply has experienced notable fluctuations in rank and sales over the past few months. Starting at rank 25 in May 2024, Homestead Cannabis Supply climbed to rank 22 in June but saw a slight dip to rank 23 in July before dropping to rank 28 in August. This downward trend in rank coincides with a decrease in sales from a peak of $242,354 in June to $157,053 in August. Competitors such as FIGR have shown a consistent upward trajectory, moving from rank 63 in May to rank 26 in August, indicating a significant increase in market presence. Similarly, Pistol and Paris maintained a relatively stable position, fluctuating between ranks 28 and 29, while 3Saints and Magi Cannabis also demonstrated varying degrees of stability and growth. These shifts highlight the competitive pressures faced by Homestead Cannabis Supply, emphasizing the need for strategic adjustments to regain and sustain higher market rankings.
Notable Products
In August 2024, the top-performing product from Homestead Cannabis Supply was Bang Tail Milled (7g) in the Flower category, which climbed to the number one spot with sales of 1110 units. Bandwagon Hybrid (7g) dropped to second place from its previous top rank in July. Bandwagon Indica (7g) maintained a steady performance, ranking third for two consecutive months. Bandwagon Indica (28g) re-entered the rankings at fourth place after not being listed in June and July. Bandwagon Sativa (7g) secured the fifth position, showing a consistent presence since its appearance in June.
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.
