Oct-2024
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Overview
Market Insights Snapshot
Analyzing Shred's performance across various categories and provinces reveals some intriguing trends. In Alberta, Shred's Flower category saw a slight fluctuation in rankings, stabilizing at 15th place in October after briefly climbing to 13th in September. This indicates a consistent presence in the market despite a minor dip in sales from July to October. Meanwhile, their Pre-Roll category experienced a notable decline from 2nd place in July to 7th by October, reflecting a downward trend in sales, which could suggest increasing competition or shifting consumer preferences. In British Columbia, the brand maintained a strong position in the Pre-Roll category, consistently holding the 2nd spot throughout the months, indicating robust consumer demand and brand loyalty in this segment.
In Ontario, Shred's performance in the Edible category was stable, consistently ranking 3rd from July to October, with a slight increase in sales suggesting a steady consumer base. The Flower category in Ontario was particularly impressive, with Shred holding the 2nd position consistently, reflecting strong market penetration. However, the Concentrates category in Ontario presents a mixed picture, with Shred not appearing in the top 30 in July but climbing to 7th place by August, and maintaining a similar rank through October, which could indicate growing interest or successful marketing strategies. In Saskatchewan, Shred's Pre-Roll category was ranked 1st in July, but there is no data available for subsequent months, suggesting a significant drop-off from the top 30, which might warrant further investigation into market dynamics or strategic shifts by the brand.
Competitive Landscape
In the competitive landscape of the Flower category in Ontario, Shred consistently holds the second position from July to October 2024, indicating a stable market presence. Despite maintaining its rank, Shred faces stiff competition from brands like Spinach, which dominates the top spot throughout this period. Shred's sales figures show a positive trend, yet they remain below those of Spinach, suggesting room for growth to challenge the leader. Meanwhile, Back Forty / Back 40 Cannabis shows a strong performance, climbing to the third position and maintaining it, which could pose a future threat if Shred's growth stagnates. Pure Sunfarms also demonstrates competitive resilience, oscillating between fourth and fifth positions, but still trailing behind Shred. These dynamics highlight the importance for Shred to leverage its current momentum and explore strategies to close the gap with Spinach while fending off advances from Back Forty.
Notable Products
For October 2024, the top-performing product from Shred was Shred'ems - CBD/THC 4:1 Wild Berry Blaze Gummy 4-Pack (40mg CBD, 10mg THC), maintaining its number one rank consistently for four months with sales of 46,595. The Shred'ems - CBD/THC 2:1 Sour Blue Razzberry Gummies 4-Pack moved up to second place, showing a steady increase in sales from previous months. Shred'em Pop! - Crazy Cream Soda Gummies slipped to third place, indicating a slight decline in popularity compared to earlier months. The new entry, Shred'ems Pop! - CBD/THC 1:1 Root Beer Blast Gummies, debuted strongly at fourth place. Gnarberry (7g) held its position at fifth, suggesting stable performance in the flower category.
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.