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Nov-2024
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Overview
Market Insights Snapshot
LoFi Cannabis has shown a varied performance across different categories and regions in recent months. In the British Columbia market, the brand has maintained a steady presence in the Oil category, consistently ranking within the top 10 from August to November 2024. Despite a slight dip in September, where it ranked 7th, LoFi Cannabis quickly regained its 6th position in October and November. This consistency suggests a strong foothold in the Oil segment, reflecting consumer preference and brand loyalty. However, in the Vapor Pens category, the brand's performance has been on a downward trend, slipping from 33rd place in August to 52nd by November, indicating challenges in maintaining competitiveness in this segment.
In Ontario, LoFi Cannabis has experienced fluctuations in the Oil category. While the brand held the 21st spot in August and improved slightly to 20th in September, it fell out of the top 30 in October, which could be seen as a setback. However, the brand made a notable comeback in November, climbing back to 19th place. This rebound might suggest successful strategic adjustments or changes in market dynamics favoring the brand. The absence of a ranking in October highlights the competitive nature of the Ontario market, where maintaining a top position requires continuous innovation and adaptation.
Competitive Landscape
In the competitive landscape of the oil category in British Columbia, LoFi Cannabis has shown a relatively stable performance, maintaining a rank between 5th and 7th from August to November 2024. This consistency suggests a strong foothold in the market, although it faces stiff competition from brands like NightNight, which has slightly outperformed LoFi Cannabis, achieving a rank of 4th in October 2024. Meanwhile, MediPharm Labs remains a formidable competitor, consistently ranking higher than LoFi Cannabis, despite experiencing a sales dip in October. LoFi Cannabis's sales showed a positive trend in October, recovering from a September slump, which indicates resilience and potential for growth. However, to climb the ranks, LoFi Cannabis needs to strategize against competitors like Frank and Purefarma, who are closely trailing behind, ensuring they don't overtake LoFi Cannabis in the coming months.
Notable Products
In November 2024, CBD 1500 Oil (30ml) emerged as the top-performing product for LoFi Cannabis, reclaiming the number one spot from the previous month with sales amounting to 1,380 units. CBD Oil 2500 (50ml) slipped to second place after leading in October. The CBD Full Spectrum Nostalgia Cartridge (1g) improved its ranking from fourth to third place, although sales decreased slightly to 349 units. Nostalgia (7g) maintained its position at fourth place but experienced a significant drop in sales compared to previous months. Notably, the new entry CBD Super Strength Oil (3000mg CBD, 30ml) debuted at fifth place, indicating potential growth in the coming months.
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.
