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Nov-2024
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Overview
Market Insights Snapshot
Palmetto has shown varied performance across different Canadian provinces and product categories. In Alberta, the brand made a notable entry into the top 30 for the Beverage category in November 2024, securing the 12th position, which indicates a strong market presence in this category. However, the Flower category saw a decline in rankings from 70th in August to 91st by November, suggesting challenges in maintaining a competitive edge. Despite not making it to the top 30 in the Pre-Roll category after August, Palmetto's Vapor Pens made intermittent appearances, with a notable 49th rank in August and a return to the top 30 in October. This suggests fluctuations in consumer preferences or market dynamics affecting Palmetto's performance.
In British Columbia, Palmetto maintained a consistent presence in the Flower category, ranking between 18th and 21st from August to November, reflecting a stable demand for their products. The Pre-Roll category also showed steady performance, with rankings hovering around the mid-40s. Interestingly, the Vapor Pens category saw significant improvement, with Palmetto breaking into the top 30 in September and climbing to 23rd by November, indicating a growing consumer interest. In contrast, Ontario showed mixed results, with the Flower category experiencing a sharp drop from 37th in September to 52nd by November, while Vapor Pens showed a remarkable jump to 29th in October before settling at 42nd in November. This highlights the dynamic nature of consumer preferences and the competitive landscape across different provinces.
Competitive Landscape
In the competitive landscape of the Flower category in British Columbia, Palmetto has shown a modest yet noteworthy improvement in its ranking over the past few months. Starting from a rank of 18 in August 2024, Palmetto experienced a slight dip to 21 in September, but quickly rebounded to 20 in October and further improved to 19 by November. This upward trend is indicative of Palmetto's resilience and ability to maintain its market presence despite fluctuating sales figures. In comparison, Redecan experienced a decline, dropping from 9th place in August to 20th in November, which may suggest a shift in consumer preferences or competitive pressures. Meanwhile, Versus and Woody Nelson have maintained relatively stable positions, with Versus improving slightly from 15th to 17th, and Woody Nelson experiencing a slight drop from 14th to 21st. Notably, DEALR made a significant leap from outside the top 20 to 18th place in November, indicating a potential emerging competitor. These dynamics highlight the competitive nature of the market and the importance for Palmetto to continue its strategic efforts to climb higher in the rankings.
Notable Products
In November 2024, Orange Vanilla Cream Soda (10mg THC, 355ml) maintained its position as the top-performing product for Palmetto, with sales reaching 7043 units. Strawberry Cough Pre-Roll 10-Pack (4g) held steady in the second spot, showing consistent popularity. The Pink Burst & Melonberry Ice 3-in-1 Distillate Disposable (1g) entered the rankings at third place, indicating a strong debut. Blue Cheese (3.5g) improved its rank to fourth, marking a notable increase from its absence in October. Pink Vanilla Cream Soda (10mg THC, 355ml) dropped to fifth place, reflecting a decrease in sales compared to previous months.
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.
