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Oct-2024
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Overview
Market Insights Snapshot
Simply Bare's performance across various categories and regions reveals a nuanced picture of its market presence. In Alberta, the brand's Flower category has seen a consistent decline, slipping from the 35th rank in July 2024 to 41st by October 2024, indicating a downward trend in market penetration. On the other hand, their Pre-Roll category in Alberta shows a more stable position, ranking 18th in July and only descending to 24th by October. This suggests that while Simply Bare's Flower products may be losing traction, their Pre-Rolls maintain a relatively stronger hold in the Alberta market. Meanwhile, in British Columbia, Simply Bare's Capsules category was ranked 5th for July and August but dropped out of the top 30 by October, highlighting a significant decrease in consumer interest or competitive pressure in this segment.
In Ontario, Simply Bare's Flower category has not managed to break into the top 30, consistently ranking in the 50s and 60s, which may indicate challenges in brand recognition or market fit in this province. Conversely, their Pre-Roll products have shown resilience, improving slightly from the 35th rank in July to 32nd by October, suggesting some positive consumer reception or strategic positioning in this category. The data suggests that while Simply Bare faces challenges in certain markets and categories, it also highlights areas of opportunity, particularly in the Pre-Roll segment across multiple provinces. This mixed performance underscores the importance of strategic adjustments to enhance market presence and cater to evolving consumer preferences.
Competitive Landscape
In the competitive landscape of Ontario's Pre-Roll category, Simply Bare has shown a steady improvement in its rankings over the past few months, moving from 35th in July 2024 to 32nd by October 2024. This upward trend is indicative of a positive reception in the market, despite the presence of strong competitors. For instance, FIGR maintained a relatively stable position around the 30th rank, while Divvy and Common Ground experienced minor fluctuations but generally hovered around the same rank as Simply Bare. Notably, Tribal saw a significant drop from 26th to 33rd, which may have opened up opportunities for Simply Bare to capture more market share. This competitive environment suggests that Simply Bare's strategic efforts are beginning to pay off, as reflected in its sales growth from $382,125 in July to $452,182 in October, positioning it favorably against its peers.
Notable Products
In October 2024, Simply Bare's top-performing product was the Fruit Loopz Pre-Roll 5-Pack (1.5g) which reclaimed its number one spot after a brief dip to second place in September, with sales reaching 11,602 units. The White Rainbow Pre-Roll 5-Pack (1.5g) followed closely in the rankings, slipping from its top rank in September to second place in October. The BC Organic Fruit Loopz Pre-Roll (0.5g) made a notable entry into the rankings for the first time, securing the third position. Island Pink Kush Rosin Infused Pre-Roll (0.5g) maintained a consistent presence in the top four across the months, ending October in fourth place. Harlequin Pre-Roll 5-Pack (1.5g) debuted in the rankings at fifth place, indicating a growing interest in this product.
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.
