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Nov-2024
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Overview
Market Insights Snapshot
In the Ontario market, Mod has consistently maintained its strong position in the Oil category, securing the third rank from August through November 2024. This stability in ranking highlights Mod's robust presence and consumer preference in the region. Despite a slight dip in sales from August to September, the brand demonstrated resilience with a notable upward trend in sales in the subsequent months, culminating in a significant increase by November. This consistent performance suggests a well-established brand loyalty and effective market strategies in Ontario, which could be crucial for sustaining and potentially improving their market position.
While Mod's performance in Ontario is commendable, the absence of rankings in other states and categories indicates potential areas for growth or missed opportunities. The lack of presence in the top 30 in other regions or categories might suggest that Mod's current strategies are either heavily localized or not as competitive outside Ontario's Oil category. This could be seen as a limitation in their market penetration or as an opportunity for expansion and diversification. Understanding the dynamics that contribute to their success in Ontario could provide valuable insights for Mod to replicate similar success in other markets.
Competitive Landscape
In the competitive landscape of the oil category in Ontario, Mod has consistently maintained its position at rank 3 from August to November 2024. This stability indicates a strong market presence, although it trails behind Redecan and MediPharm Labs, which have held the top two positions respectively. Notably, Redecan is the market leader with a significant lead in sales, while MediPharm Labs maintains a steady second place despite a dip in November sales. Mod's sales have shown a positive upward trend, particularly from October to November, suggesting potential for growth and an opportunity to close the gap with the top competitors. Meanwhile, Glacial Gold has seen a slight improvement in rank, moving from 6th to 5th, which could indicate increasing competition for Mod in the coming months.
Notable Products
In November 2024, the top-performing product for Mod was the THC Variety Pack Oil Drops 4-Pack (12ml) in the Oil category, maintaining its first-place ranking from October with a sales figure of 5710. The THC Berry Drops (3ml) held the second position, although its sales decreased compared to previous months. The THC Lime Drops (2ml) remained steady in third place, despite a slight decline in sales figures. The THC 1000 Unflavoured Oil Drops 10-Pack (30ml) also retained its fourth position, showing a positive trend with increased sales since August. Overall, the rankings for these top products have been relatively stable, with the notable exception of the THC Berry Drops, which experienced a drop from its previous top spot earlier in the year.
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.
