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Dec-2024
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Overview
Market Insights Snapshot
In the Canadian cannabis market, Shred has shown varied performance across different provinces and product categories. In Alberta, Shred's presence in the Flower category has been somewhat volatile, with rankings fluctuating between 13th and 18th over the months from September to December 2024. This indicates a competitive landscape in the Flower category within the province. Meanwhile, Shred's performance in the Pre-Roll category in Alberta remains relatively stable, maintaining a position in the top 10 consistently, though with a slight dip from 6th to 8th place. In British Columbia, Shred's ranking in the Flower category dropped out of the top 30 in November, which could signal a need for strategic adjustments. However, the brand has maintained a strong position in the Edible category, holding steady at 4th place throughout the observed period.
In Ontario, Shred has demonstrated strong performance, particularly in the Flower category, where it climbed to the top spot in November and December 2024. This suggests a significant consumer preference for Shred's Flower products in Ontario. The Edible category also shows consistent success, with Shred holding the 3rd position across the last four months of 2024. However, a slight decline in the Concentrates category from 6th to 8th place in December might indicate increased competition or shifting consumer preferences. The Pre-Roll category in Ontario reflects a similar trend to Alberta, with Shred maintaining a position within the top 5, though experiencing a gradual decline in sales over the months. This mixed performance across categories and provinces highlights the dynamic nature of the cannabis market and the importance of strategic positioning for brands like Shred.
Competitive Landscape
In the Ontario flower category, Shred has demonstrated a notable upward trajectory in the competitive landscape from September to December 2024. Initially ranked second in September and October, Shred ascended to the top position in November and maintained this lead through December. This rise in rank suggests a positive reception and growing consumer preference, positioning Shred ahead of competitors such as Spinach, which fell from first to second place during the same period. Meanwhile, Back Forty / Back 40 Cannabis consistently held the third position, indicating stable performance but not enough momentum to challenge Shred's ascent. This shift in rankings highlights Shred's effective market strategies and product appeal, which have translated into increased sales and a strengthened market presence in Ontario's flower category.
Notable Products
In December 2024, the top-performing product from Shred was Shred'ems - CBD/THC 4:1 Wild Berry Blaze Gummy 4-Pack, maintaining its number one rank for four consecutive months with impressive sales of $57,896. The Shred'ems - CBD/THC 2:1 Sour Blue Razzberry Gummies 4-Pack held steady at the second position, showcasing consistent demand and increased sales compared to previous months. The Shred'em Pop! - Crazy Cream Soda Gummies 4-Pack remained in third place, indicating stable consumer preference. Shred'ems Pop! - CBD/THC 1:1 Root Beer Blast Gummies 4-Pack consistently ranked fourth, demonstrating steady growth in sales. Notably, Tropic Thunder entered the rankings at fifth place in December, highlighting its emerging popularity 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.
