.svg){kind=small}
Oct-2024
Sales
Trend
6-Month
Product Count
SKUs
Overview
Market Insights Snapshot
LoFi Cannabis has shown varied performance across different categories and regions, with notable shifts in their rankings. In British Columbia, the brand has maintained a strong presence in the Oil category, consistently ranking within the top 10, although it experienced a slight dip to 7th place in September before recovering to 6th in October. However, their performance in the Flower category has not been as robust, as they did not make it into the top 30 rankings by October. This indicates a potential area for growth or strategic adjustment. In the Vapor Pens category, LoFi Cannabis's ranking showed a downward trend, slipping from 39th in July to 48th by October, which might suggest increased competition or shifting consumer preferences in this segment.
In Ontario, LoFi Cannabis maintained a steady presence in the Oil category, with rankings hovering around the 20th position through the summer months, although they were not ranked in October. This absence from the top 30 in the most recent month could signal a need for a refreshed strategy or an adaptation to market changes. Despite this, the brand's sales figures in the Oil category in Ontario remained relatively stable, suggesting some level of consumer loyalty or consistent demand. The dynamics in these regions highlight both the challenges and opportunities faced by LoFi Cannabis as they navigate the competitive landscape of the cannabis industry.
Competitive Landscape
In the competitive landscape of the oil category in British Columbia, LoFi Cannabis has experienced notable fluctuations in its ranking from July to October 2024. Initially holding the 5th position in July and August, LoFi Cannabis saw a decline to 7th place in September, before slightly recovering to 6th in October. This movement is indicative of a competitive market where brands like NightNight and MediPharm Labs have shown stronger performance, with NightNight climbing from 6th to 4th and MediPharm Labs maintaining a top-tier presence despite a gradual decline from 2nd to 5th. Meanwhile, Purefarma has consistently improved its position, moving from 8th to 7th, suggesting a potential threat to LoFi Cannabis's market share. These dynamics highlight the importance for LoFi Cannabis to strategize effectively to regain and sustain higher rankings amidst this competitive environment.
Notable Products
For October 2024, the top-performing product from LoFi Cannabis is CBD 1500 Oil (30ml) in the Oil category, maintaining its number one rank consistently from July through October, with sales of 975 units. CBD Oil 2500 (50ml), also in the Oil category, holds the second position, showing an upward trend from fourth place in July. Nostalgia (7g) in the Flower category ranks third, having fluctuated slightly in previous months but maintaining a strong presence in the top three. The CBD Full Spectrum Nostalgia Cartridge (1g) in the Vapor Pens category has risen to fourth place, marking consistent performance over the months. The CBD:THC 1:1 Nostalgia x Rainbow Driver Cured Resin Cartridge (1g) saw a decline, dropping to fifth place from a second-place rank in August, indicating a shift in consumer preference within the Vapor Pens 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.
