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Oct-2024
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Overview
Market Insights Snapshot
In the province of British Columbia, Magi Cannabis has shown a consistent presence in the Flower category rankings over the past few months. In July 2024, the brand was ranked 29th, and it improved slightly to 25th in August. However, the subsequent months saw a minor decline, with rankings slipping to 26th in September and 28th in October. Despite these fluctuations in rankings, Magi Cannabis experienced a steady increase in sales from July to October, indicating a growing consumer base and possibly increased brand loyalty despite the competitive market.
The performance of Magi Cannabis in British Columbia's Flower category highlights both opportunities and challenges. The movement in rankings suggests that while the brand is maintaining its presence, it faces stiff competition from other brands in the top 30. The absence of Magi Cannabis from the top 30 in any other states or provinces for this category may indicate either a strategic focus on British Columbia or challenges in penetrating other markets. This data underscores the importance of regional strategies and the potential benefits of expanding into new areas to diversify market presence and mitigate risks associated with regional competition.
Competitive Landscape
In the competitive landscape of the Flower category in British Columbia, Magi Cannabis has demonstrated a relatively stable performance from July to October 2024, maintaining a rank within the top 30 brands. Despite a slight dip in October, Magi Cannabis's sales have shown consistent growth, indicating a strong market presence. Notably, Broken Coast and Tantalus Labs have made significant strides, with Tantalus Labs surpassing Magi Cannabis in October. Meanwhile, Grasslands experienced a remarkable jump in rank from being outside the top 20 in July to reaching 24th in September, showcasing a rapid increase in sales. 3Saints also improved its position, surpassing Magi Cannabis in October. These shifts highlight the dynamic nature of the market and suggest that while Magi Cannabis maintains a solid foothold, it faces increasing competition from brands that are rapidly climbing the ranks.
Notable Products
In October 2024, the top-performing product for Magi Cannabis was Salty Pink 3.5g, maintaining its number one rank from previous months with a notable sales figure of 591 units. Salt Spring Love Haze 3.5g rose to the second position, showing a slight decrease in sales compared to September 2024. The Block Party Variety Pack Pre-Roll 20-Pack, which consistently held the second rank in previous months, dropped to third place. Salty Pink 7g secured the fourth position, maintaining a steady presence in the top ranks since August. Finally, Salt Spring Love Haze 14g held the fifth position, showing an increase in sales from the previous month.
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.
