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Oct-2024
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Overview
Market Insights Snapshot
In the province of Alberta, HYTN's performance in the Beverage category has seen a decline over the past few months. Starting from a rank of 10 in July 2024, the brand has slipped to 14 in August and further to 17 in September. By October, HYTN was no longer in the top 30, indicating a significant drop in their market presence within Alberta. This downward trend is underscored by a notable decrease in sales, with October figures not even making it to the ranking. Such a shift suggests that HYTN may need to reassess its strategy in Alberta to regain its footing in the competitive beverage market.
Conversely, in British Columbia, HYTN has maintained a consistent position within the top 10 of the Beverage category throughout the same period. Despite a slight decrease in sales from August to October, the brand has managed to hold steady at the 10th rank. This stability in British Columbia suggests a stronger brand loyalty or market strategy that keeps HYTN competitive amidst fluctuating sales numbers. The divergence in performance between Alberta and British Columbia highlights the varying market dynamics and consumer preferences within these provinces.
Competitive Landscape
In the competitive landscape of the beverage category in British Columbia, HYTN has maintained a consistent rank of 10th place from July to October 2024. Despite this stability, the brand faces significant competition from other players in the market. For instance, Ray's Lemonade showed a slight improvement in rank, moving from 9th to 8th place by October, indicating a potential upward trend in consumer preference. Meanwhile, Summit (Canada) experienced a decline, dropping from 5th to 9th place, which may suggest opportunities for HYTN to capture market share if Summit's downward trend continues. On the other hand, Collective Project remained steady at 12th place, while TeaPot fluctuated slightly but ended October in 11th place, just behind HYTN. These dynamics highlight the competitive pressures HYTN faces, as well as potential opportunities to capitalize on the shifting ranks and sales trends of its competitors.
Notable Products
In October 2024, the top-performing product for HYTN was the Watermelon Mint Sparkling Drink (10mg THC, 355ml) in the Beverage category, maintaining its number one rank from September, with sales reaching 2527 units. The Rosewater Lemonade Drink (10mg THC, 355ml) consistently held the second position, showing a slight increase in sales compared to September. The Pomelo Papaya Sparkling Drink (10mg THC, 355ml) remained steady at third place, despite a drop in sales figures. The Citrus Nano Shot (100mg THC, 50ml) also maintained its fourth-place ranking, continuing its trend from previous months with decreasing sales. Lastly, the Peach Nectarine Sparkling Drink (10mg THC, 355ml) re-entered the rankings, securing fifth place with a modest sales figure of 145 units after being absent in 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.
