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Oct-2024
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Overview
Market Insights Snapshot
Homestead Cannabis Supply has demonstrated varied performance across different provinces in the flower category. In British Columbia, the brand showed a positive trend, moving from a rank of 23 in July to 16 by October, indicating a strengthening market presence. Conversely, in Alberta, the brand experienced a decline, slipping from rank 50 in July to 91 by October. This suggests potential challenges in maintaining competitiveness or market share in Alberta. Meanwhile, in Ontario, the brand improved its ranking from 95 to 85, hinting at a gradual increase in popularity or sales effectiveness in the region. However, in Saskatchewan, the absence of an October ranking indicates that Homestead Cannabis Supply did not make it to the top 30 brands, which might be a cause for concern regarding their market strategy in this province.
In the pre-roll category within British Columbia, Homestead Cannabis Supply has shown resilience and growth. Starting at rank 64 in July and moving to 59 by October, the brand appears to be gaining traction despite the competitive nature of the pre-roll market. This upward movement suggests effective marketing or product differentiation strategies that could be leveraged further. While the sales figures in this category are not disclosed, the improvement in ranking suggests a potentially significant increase in market share. The brand's performance across these categories and regions highlights the importance of targeted strategies to address the unique dynamics of each market, with some areas showing promising growth and others indicating room for strategic adjustments.
Competitive Landscape
In the competitive landscape of the Flower category in British Columbia, Homestead Cannabis Supply has demonstrated a notable upward trend in rankings over recent months. Starting from a rank of 23 in July 2024, Homestead Cannabis Supply improved to 16 by October 2024, indicating a positive trajectory in market presence. This upward movement is significant when compared to competitors such as Tweed, which saw a decline from rank 8 to 15 in the same period, and Woody Nelson, which fluctuated but ultimately dropped to rank 18. Meanwhile, Highly Dutch made a remarkable leap from rank 47 to 17, showcasing a strong competitive threat. Despite these dynamics, Homestead Cannabis Supply's sales figures have shown a consistent increase, particularly in October 2024, suggesting a strengthening market position. This trend indicates that Homestead Cannabis Supply is effectively capturing market share, potentially at the expense of more established brands.
Notable Products
In October 2024, the top-performing product from Homestead Cannabis Supply was Bang Tail Milled (7g) in the Flower category, maintaining its leading position from August. This product achieved a notable sales figure of 1307 units, reflecting a significant increase from previous months. Bandwagon Indica (28g) rose to the second position, climbing up from fourth place in September, with a substantial increase in sales. Bandwagon Indica (7g) dropped from first place in September to third in October, although it still showed strong sales performance. Bandwagon Hybrid (7g) experienced a decline in ranking, moving from third to fourth place, indicating a shift in consumer preference within the Flower 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.
