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Aug-2024
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Overview
Market Insights Snapshot
Peace Naturals has demonstrated consistent performance in the Oil category across various states and provinces, with notable stability in Alberta. The brand maintained a steady 11th position from May through August 2024, despite a decrease in sales from $38,853 in May to $25,625 in August. This stability in ranking suggests a loyal customer base and effective market penetration in Alberta. However, the declining sales trend indicates potential challenges in maintaining revenue, possibly due to market saturation or increased competition.
In Ontario, Peace Naturals showed a more dynamic performance in the Oil category, with a slight improvement in ranking from 20th in May to 18th in August 2024. This upward movement is accompanied by a positive sales trend, culminating in an increase from $17,902 in May to $23,358 in August. This suggests that Peace Naturals is gaining traction in Ontario, possibly through effective marketing strategies or product differentiation. The brand's ability to climb the ranks in Ontario while maintaining a top 20 position indicates a growing market presence and potential for further expansion.
Competitive Landscape
In the Alberta oil category, Peace Naturals has maintained a consistent rank of 11th place from May to August 2024. This stability in ranking is noteworthy, especially when compared to competitors like Solei, which also held a steady 12th place but with lower sales figures each month. On the other hand, Dosecann fluctuated slightly but generally outperformed Peace Naturals in terms of sales, maintaining a rank between 9th and 10th place. The most significant competitor, Divvy, showed an upward trend, moving from 10th to 8th place, indicating a potential threat to Peace Naturals' market share. Despite these competitive pressures, Peace Naturals' consistent ranking suggests a loyal customer base, although the declining sales figures indicate a need for strategic adjustments to maintain or improve its market position.
Notable Products
In August 2024, Peace Naturals' top-performing product was CBD Peppermint 75 Oil (25ml) in the Oil category, maintaining its first-place ranking consistently across all months with a notable sales figure of $1556. Blue Dream (3.5g) in the Flower category held the second position, showing a slight decrease in sales compared to July. GMO Cookies (3.5g), also in the Flower category, climbed to the third position from fifth in May and June, indicating a steady increase in popularity. CBD 25 Peppermint Oil (25ml) dropped to fourth place after being second in June, suggesting a shift in consumer preference. Wedding Cake (3.5g), another Flower product, maintained its fifth position from July to August, reflecting stable demand.
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.
