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Nov-2024
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Overview
Market Insights Snapshot
MediPharm Labs has demonstrated a strong and consistent performance in the oil category across several Canadian provinces. Notably, in Alberta, they have maintained their position as the top-ranked brand from August to November 2024, indicating a robust and stable presence in this market. Similarly, in Saskatchewan, they have also held the number one spot consistently, suggesting a strong brand loyalty or market strategy that resonates well with consumers there. In Ontario, MediPharm Labs has consistently ranked second over the same period, indicating a solid foothold but also hinting at a competitive landscape where they are a close contender for the top spot.
The performance in British Columbia has been more variable, with rankings fluctuating from second in August to fifth in October before recovering slightly to fourth in November. This volatility could suggest changes in consumer preferences or increased competition in the oil category. The fact that MediPharm Labs did not fall out of the top five in British Columbia, despite these fluctuations, underscores their resilience and adaptability in a dynamic market. However, the absence of a top 30 ranking in any category across states or provinces would indicate areas where the brand might need to reassess its strategy or product offerings to improve visibility and sales performance.
Competitive Landscape
In the competitive landscape of the oil category in Ontario, MediPharm Labs has consistently maintained its position as the second-ranked brand from August to November 2024. Despite its stable rank, the brand faces significant competition from Redecan, which holds the top spot with a noticeable lead in sales. Meanwhile, Mod and NightNight have consistently ranked third and fourth, respectively, without posing a direct threat to MediPharm Labs' position. However, it's worth noting that while MediPharm Labs experienced a dip in sales in November, Mod showed an upward trend, potentially indicating a shift in consumer preferences. This competitive dynamic highlights the importance for MediPharm Labs to innovate and differentiate its offerings to maintain and potentially improve its market position.
Notable Products
In November 2024, the top-performing product for MediPharm Labs was the CBN:THC 1:2 Nighttime Formula Oil (30ml), maintaining its first-place rank consistently since August 2024, with sales of 7,286 units. The THC 30 Regular Formula Oil (30ml) held steady at the second position, having climbed from third place in August and September. The CBN:CBD 1:2 Relax Formula Oil (30ml) remained in third place, despite a dip in sales in October. The CBD 50 Plus Olive Formula Oil (30ml) consistently ranked fourth throughout the months. A new entry, the CBD:THC 25:1 Ultra Formula Oil, debuted in fifth place in November, indicating a positive reception in its initial month of sales.
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.
