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Aug-2024
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Overview
Market Insights Snapshot
Seeker's performance in Ontario across different categories showcases a mixed trajectory. In the Flower category, Seeker did not make it into the top 30 brands from May through August 2024, indicating a potential area of concern or opportunity for improvement. This consistent absence from the top rankings suggests that Seeker's Flower products may not be resonating as strongly with consumers in Ontario, or they may be facing stiff competition from other brands. However, the Oil category tells a different story, with Seeker maintaining a relatively stable presence in the rankings. Starting from 22nd place in May and moving to 20th in June, they slightly dropped to 23rd in July and August, which signifies a consistent but modest performance in this category.
Examining the sales trends provides additional insights into Seeker's market position. While the Flower category did not achieve notable rankings, the Oil category saw fluctuations in sales. There was a peak in June 2024, followed by a gradual decline through August. This pattern could indicate seasonal variations or shifts in consumer preferences. The stability in the Oil category rankings, despite the sales decline, suggests that Seeker retains a loyal customer base for this product line in Ontario. Overall, while Seeker faces challenges in the Flower category, their consistent performance in Oils highlights a potential area of strength that could be further leveraged for growth.
Competitive Landscape
In the competitive landscape of the Ontario oil category, Seeker has shown fluctuating performance in recent months. Seeker's rank improved from 22nd in May 2024 to 20th in June 2024, but then declined to 23rd in both July and August 2024. This volatility contrasts with the more stable performance of competitors such as LoFi Cannabis, which maintained a relatively steady position, ranking 21st in May, 22nd in June, 19th in July, and 21st in August 2024. Another competitor, Frank, experienced a significant rise to 16th place in June before dropping out of the top 20 by August. Meanwhile, Mood Ring entered the top 20 in August, ranking 22nd. These shifts indicate a highly competitive market where Seeker's sales have seen a downward trend from June to August, potentially impacting its market share and necessitating strategic adjustments to regain and maintain a higher rank.
Notable Products
In August 2024, the top-performing product from Seeker was Molten Lava Cake (3.5g) in the Flower category, which climbed from second place in July to first place with sales reaching 977 units. Pomegranate THC Oil (30ml) in the Oil category also showed a significant improvement, moving up to second place from third in July. Sugar N' Spice Pre-Roll 10-Pack (3.5g), previously the top seller for three consecutive months, dropped to third place with a notable decline in sales. Terp N' Tine Pre-Roll (0.5g) remained steady in fourth place, while Terp N' Tine (28g) re-entered the top five, securing the fifth position. These shifts indicate a dynamic market where Flower products are gaining traction, while Pre-Rolls are seeing a relative decline.
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.
