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Oct-2024
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Overview
Market Insights Snapshot
In the Canadian market, Nutra's performance in the Capsules category within Ontario shows a promising upward trajectory. The brand entered the top 30 rankings in August 2024, securing the 17th position. However, it's noteworthy that Nutra did not appear in the rankings for July 2024, indicating a significant improvement in their market presence within just a month. This suggests a strategic move or a successful product launch that resonated well with consumers in Ontario, as they managed to achieve this rank without being in the top 30 the previous month. Such a leap in ranking is indicative of growing brand recognition and consumer interest in Nutra's offerings.
Despite this positive movement in Ontario, the absence of Nutra from the top 30 rankings in other states or provinces across categories could be seen as a point of concern or an area for potential growth. The lack of visibility in other markets might suggest that Nutra's current strategies are more region-specific, or perhaps there's a need for broader marketing efforts to capture a wider audience. This disparity in performance across different regions and categories highlights the importance of understanding local market dynamics and consumer preferences. Observing such trends can provide valuable insights into where Nutra might focus its efforts to enhance its market penetration and brand presence.
Competitive Landscape
In the Ontario capsules market, Nutra has shown fluctuating performance, with its rank missing in July 2024, indicating it was not in the top 20 brands, and then appearing at 17th position in August 2024. This suggests a re-entry into the competitive landscape, although it did not maintain a top 20 position in September and October. In contrast, Pennies consistently held the 13th position in July and August, before slightly dropping to 14th in September and October, reflecting a stable yet slightly declining trend. Meanwhile, Frank reappeared in October at 15th after missing ranks in August and September, indicating a resurgence. Portals maintained a steady presence at 15th in August and September before dropping out of the top 20 in October. These dynamics highlight Nutra's challenge in maintaining a consistent market presence amidst competitors that exhibit both stability and volatility.
Notable Products
In October 2024, the top-performing product for Nutra was the CBD Isolate Capsules 15-Pack (1500mg CBD) in the Capsules category, maintaining its position as the number one product for four consecutive months with sales of 255 units. The CBD Balm (3000mg CBD) in the Topical category climbed to second place from its consistent third-place ranking in previous months, showing a significant increase in sales. The CBD Hemp Isolate Capsules 30-Pack (3000mg CBD) dropped to third place, reflecting a decrease in sales compared to earlier months. The CBN Plant Based Capsules 60-Pack (900mg CBN) re-entered the ranking in fourth place after being absent in August and September. Lastly, the CBN/CBD 1:1 Calm Lemon Balm & Mint Gum 10-Pack (200mg CBD, 200mg CBG) maintained its fourth-place position from September.
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.
