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Aug-2024
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Overview
Market Insights Snapshot
In the Ontario market, Mod has shown a consistent upward trajectory in the Oil category. Starting from a rank of 8 in May 2024, Mod improved its position to rank 7 in June and further climbed to rank 5 by July and August. This positive movement indicates a strong acceptance and growing popularity of Mod's oil products among consumers in Ontario. The sales figures also reflect this trend, with a significant increase from $47,637 in May to $76,607 in July, before slightly dipping to $72,160 in August. Such a performance showcases Mod's ability to maintain a top 5 position in a competitive market.
However, Mod's performance across other states and categories is less consistent. Notably, the absence of rankings in other states and categories suggests that Mod has not yet penetrated or established a significant presence outside Ontario's Oil market. This could be seen as a gap in their market strategy, indicating areas where the brand has potential for growth but has not yet capitalized. The lack of top 30 rankings in these other markets might be a concern for stakeholders looking for broader market dominance. Nonetheless, the strong performance in Ontario's Oil category provides a solid foundation for future expansion.
Competitive Landscape
In the highly competitive Ontario oil category, Mod has shown a notable upward trajectory in its rankings over the past few months. Starting at 8th place in May 2024, Mod climbed to 7th in June and then made a significant leap to 5th place by July, maintaining this position through August. This upward movement suggests a positive reception and increasing consumer preference for Mod's products. In contrast, Viola has consistently held the 4th position, indicating stable yet strong competition. Meanwhile, Glacial Gold has experienced fluctuating ranks, peaking at 6th in June but dropping to 7th by August, which could signal volatility in consumer loyalty. Twd. remained steady around the 5th and 6th positions, posing a consistent challenge to Mod. The market leader, NightNight, has held the 3rd position throughout, indicating a strong foothold in the market. Mod's rise in rank and sales, especially against such stable competitors, highlights its growing influence and potential for further market penetration in Ontario's oil category.
Notable Products
In August 2024, the top-performing product for Mod was THC Berry Drops (3ml) in the Oil category, maintaining its first-place ranking with sales of 3740 units. THC Lime Drops (2ml) moved up to second place, showing a notable increase from its third-place position in the previous two months. THC Variety Pack Drops (12ml) dropped to third place after holding the second spot in June and July. The consistent performance of THC Berry Drops (3ml) highlights its strong market presence, while the movement of THC Lime Drops (2ml) and THC Variety Pack Drops (12ml) indicates shifting consumer preferences. Overall, the rankings demonstrate a competitive landscape with dynamic changes in product popularity.
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.
