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Oct-2024
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Overview
Market Insights Snapshot
In the Ontario market, Mod has demonstrated consistent performance in the Oil category. Starting from a strong position in July 2024 with a rank of 4, the brand improved to the 3rd position in August and has maintained this ranking through October. This stability in ranking indicates a solid foothold in the market, which is further supported by a notable increase in sales from $159,140 in July to $282,221 in October. Such a trend suggests that Mod is effectively capturing consumer interest and expanding its market share within this category.
Interestingly, the performance of Mod across other states or provinces and categories is not as prominent, as the brand does not appear in the top 30 rankings outside of Ontario for the Oil category. This absence in other regions and categories could be seen as a potential area for growth or a strategic focus on specific markets. The insights from Ontario highlight the brand's capability to perform well in targeted areas, which might encourage expansion strategies or increased competitive efforts in other regions to replicate this success.
Competitive Landscape
In the competitive landscape of the Oil category in Ontario, Mod has shown a promising upward trajectory in terms of rank and sales over the past few months. Starting from a rank of 4th in July 2024, Mod climbed to 3rd place by August and maintained this position through October, indicating a positive reception in the market. This advancement is noteworthy given the consistent performance of top competitors like Redecan and MediPharm Labs, which have held the 1st and 2nd ranks, respectively, throughout the same period. Mod's sales have also seen a significant increase, particularly from August to October, suggesting a growing consumer preference and effective marketing strategies. Meanwhile, NightNight, which was ahead of Mod in July, dropped to 4th place, highlighting Mod's competitive edge. This trend positions Mod as a rising contender in the Ontario Oil market, with potential to challenge higher-ranked brands if the momentum continues.
Notable Products
In October 2024, the top-performing product for Mod was the THC Variety Pack Oil Drops 4-Pack (12ml), which retained its number one ranking from September with impressive sales figures reaching 7405. The THC Berry Drops (3ml), while maintaining a strong presence, slipped to the second position after leading in July and August. THC Lime Drops (2ml) showed a significant increase in sales, climbing to the third position from fourth in September, indicating a growing consumer preference. Meanwhile, THC 1000 Unflavoured Oil Drops 10-Pack (30ml) held steady at fourth place, reflecting consistent demand across the months. This analysis highlights a dynamic shift in consumer choices, with notable gains for the Variety Pack and Lime Drops in October.
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.
