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Sep-2024
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Overview
Market Insights Snapshot
Mood Ring's performance across various categories and regions presents a nuanced picture of its market presence. In Alberta, the brand's Vapor Pens category did not make it into the top 30 rankings from June to September 2024, which could indicate a challenging market environment or increased competition. The sales figures in this region show a significant decline from June to July, suggesting obstacles in maintaining market traction. The absence of rankings for later months in Alberta might be a cause for concern, as it implies that Mood Ring is struggling to capture a significant share of the Vapor Pens market in this province.
Conversely, in Ontario, Mood Ring has shown a consistent and strong presence in the Capsules category, maintaining an 11th place ranking from June through September 2024. This stability suggests a solid foothold in the market, possibly due to brand loyalty or product quality. However, the Oil category tells a different story; while Mood Ring improved its ranking from 24th in July to 22nd in August and September, it was not ranked in June, indicating an upward trend but also highlighting initial struggles to break into the top 30. These movements suggest that while Mood Ring is making inroads in certain categories, there are challenges and opportunities for growth in others.
Competitive Landscape
In the competitive landscape of the Capsules category in Ontario, Mood Ring consistently held the 11th rank from June to September 2024. This stability in rank suggests a steady market presence, although it trails behind competitors such as Stigma Grow, which maintained a solid 10th position throughout the same period, and C Minor, which fluctuated between 7th and 9th positions. Despite a slight dip in sales from June to September, Mood Ring's performance remained relatively stable compared to Decimal, which showed a positive trend by improving its rank from 13th to 12th and increasing its sales significantly. Meanwhile, Spring Hill Cannabis Co. did not rank in the top 20 in June but appeared at 14th from July to August, improving to 13th in September, indicating a growing competitive pressure. Mood Ring's consistent ranking amidst these dynamics highlights its resilience but also underscores the need for strategic initiatives to climb higher in the rankings and boost sales.
Notable Products
In September 2024, the top-performing product for Mood Ring was the High THC Capsules 30-Pack (300mg), maintaining its number one rank for the third consecutive month despite a slight decrease in sales to 756 units. The High CBD Capsules 30-Pack (900mg CBD) secured the second position, consistent with its August ranking, with sales slightly increasing to 383 units. The High THC Oil (30ml) continued to hold the third spot, following a similar pattern from the previous month, with sales rising to 339 units. The High CBD Oil (30ml) remained in fourth place, showing a decline from its peak in July. Notably, S.A.G.E (3.5g) entered the rankings for the first time in September, achieving a fifth-place position with 58 units sold.
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.
