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Oct-2024
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Overview
Market Insights Snapshot
Ovis has shown a consistent presence in the Capsules category in Alberta, maintaining its rank at 11th place from July through October 2024. This stability suggests a strong foothold in this particular market segment, indicating that the brand has established a reliable consumer base or product offering that resonates well with customers in Alberta. Notably, the brand's sales figures demonstrate a positive trajectory, with a significant increase from July to October. This upward trend in sales, despite maintaining the same rank, might suggest that the overall market is growing, and Ovis is successfully capturing a portion of this growth.
While Ovis maintains its position in Alberta's Capsules category, its absence from the top 30 rankings in other states and categories could be seen as a potential area for growth or concern. The lack of presence in other markets might indicate a need for strategic expansion or a focus on strengthening their product offerings in those regions. Conversely, the consistent rank in Alberta could also imply that the brand is prioritizing depth over breadth in its market strategy, concentrating its efforts where it has proven success. Understanding these dynamics could be crucial for stakeholders looking to assess Ovis's market performance and potential for future growth.
Competitive Landscape
In the Alberta market for cannabis capsules, Ovis has maintained a consistent rank at 11th place from July to October 2024, indicating a stable presence in the competitive landscape. Notably, Indiva and Dosecann have been strong competitors, with Indiva improving its rank from 10th to 8th and Dosecann experiencing a slight decline from 7th to 10th over the same period. This suggests that while Ovis has managed to hold its position, there is room for growth to catch up with these leading brands. Additionally, Ovis's sales have shown an upward trend, particularly from August to October, which could indicate a positive reception to recent marketing efforts or product changes. However, the absence of Solei and Pennies from the top 20 in October suggests potential market share opportunities for Ovis if it can capitalize on the shifting dynamics in this category.
Notable Products
For October 2024, the top-performing product from Ovis was the Blue THC Softgel 15-Pack (150mg) in the Capsules category, maintaining its first-place rank for four consecutive months with impressive sales of 1597 units. The CBG/CBD/THC 1:1:1 Softgels 15-Pack held steady in second place, showing consistent performance across the months. The CBD:THC 1:1 Balanced Full Spectrum Softgels 30-Pack remained in third place, except for a brief dip to fourth in August. The CBD Softgels 30-Pack (1500mg CBD) consistently ranked fourth, with a notable increase in sales in October. The Blue THC Softgel 50-Pack (125mg) regained its fifth-place position after being absent from the September rankings.
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.
