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Nov-2024
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Overview
Market Insights Snapshot
HYTN's performance in the beverage category across Canadian provinces has shown some variability in recent months. In Alberta, HYTN's ranking dropped from 14th in August to 17th in September, and it did not make it into the top 30 in October or November. This suggests a declining presence or increased competition in the Alberta beverage market. Conversely, in British Columbia, HYTN maintained a steady presence, holding the 10th position from August through October, before improving slightly to 9th in November. This consistent performance in British Columbia indicates a stable market position and possibly a loyal customer base in that province.
While the sales figures in Alberta showed a significant drop from August to September, the absence of rankings in October and November indicates that HYTN might need to reassess its strategies in this market. In British Columbia, the sales figures remained relatively stable, with only a slight decrease from October to November. Despite this minor drop, the upward movement in rankings suggests that HYTN's market strategies in British Columbia are effectively maintaining or even enhancing its competitive edge. This stability in British Columbia contrasts with the brand's challenges in Alberta, highlighting the importance of market-specific strategies.
Competitive Landscape
In the competitive landscape of the beverage category in British Columbia, HYTN has shown a consistent performance, maintaining a steady rank around the 10th position from August to November 2024. Despite a slight improvement to 9th place in November, HYTN faces stiff competition from brands like Ray's Lemonade and Summit (Canada), which have fluctuated in ranks but generally maintained higher sales volumes. Notably, Green Monke experienced a significant drop from 4th to 11th place by November, indicating potential volatility in the market. Meanwhile, Collective Project has been gradually climbing, reaching 10th place in November, just behind HYTN. These dynamics suggest that while HYTN has managed to hold its ground, it must strategize to increase its sales and improve its ranking amidst a competitive and fluctuating market.
Notable Products
In November 2024, the top-performing product for HYTN was the Rosewater Lemonade Drink (10mg THC, 355ml), reclaiming its position at the top with sales of 3073 units. The Citrus Nano Shot (100mg THC, 50ml) made a notable leap to the second position, improving from a consistent fourth place in previous months. The Pomelo Papaya Sparkling Drink (10mg THC, 355ml) maintained its steady performance, holding onto the third rank throughout the months. The Watermelon Mint Sparkling Drink (10mg THC, 355ml) saw a significant drop from first place in September and October to fourth in November. Finally, the Blood Orange Sparkling Water (10mg THC, 355ml) re-entered the rankings, holding the fifth spot with modest sales figures.
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.
