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Oct-2024
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Overview
Market Insights Snapshot
Solei's performance in the cannabis market presents a mixed picture across different categories and regions. In Alberta, Solei maintained a consistent rank of 11th in the Beverage category from July to October 2024, despite a noticeable decline in sales from July to October. This steady ranking amidst declining sales suggests a stable competitive position but highlights potential challenges in growing market share. Interestingly, Solei's Capsules category in Alberta emerged in the rankings in October at 12th, indicating a new foothold in this segment. However, in the Oil category, Solei dropped out of the top 30 after August, suggesting a decline in market presence. The Pre-Roll category in Alberta showed some positive movement, with Solei improving its rank from 76th in July to 66th in October, reflecting a strengthening position in this segment.
In Ontario, Solei's performance in the Beverage category demonstrated resilience and growth, climbing to 9th place in August and maintaining a strong position in the subsequent months. This trend underscores solid consumer demand and effective market strategies in Ontario's Beverage segment. Conversely, in British Columbia, Solei's rank in the Beverage category slipped from 12th in July to 14th in October, accompanied by a decline in sales, which may indicate competitive pressures or shifting consumer preferences in this region. The Topical category in Saskatchewan remains a stronghold for Solei, consistently holding the top rank, suggesting a dominant position and possibly a loyal customer base in this niche. These insights highlight the varied performance of Solei across different categories and provinces, pointing to areas of strength and opportunities for growth.
Competitive Landscape
In the Ontario beverage category, Solei has demonstrated a steady presence, maintaining a top 10 position for the past four months. Despite fluctuations in sales, Solei's rank improved from 13th in July 2024 to 9th in August and September, before slightly declining to 10th in October. This consistent performance is noteworthy, especially when compared to competitors like Green Monke, which dropped from 10th to 12th place over the same period, and TeaPot, which climbed from 16th to 11th. Meanwhile, Bubble Kush has shown a competitive edge, moving from 12th to 9th place, surpassing Solei in October. The consistent top 8 ranking of Mary Jones highlights a strong market leader, maintaining its position throughout the months. Solei's ability to navigate these competitive dynamics suggests a resilient brand strategy, though it faces pressure from both rising and established competitors in the Ontario market.
Notable Products
In October 2024, the top-performing product from Solei was the CBD Dragonfruit Watermelon Sparkling Water (25mg CBD) in the Beverage category, maintaining its top rank from September despite a slight decrease in sales to 7835. The CBD Mango Passionfruit Sparkling Beverage (25mg CBD) held steady in second place, consistently performing well across the months. Slims - Free Pre-Roll 10-Pack (4g) rose to the third position, showing an improvement from fifth in August and fourth in September, with sales reaching 3276. The CBG/THC 2:1 Peach Cranberry Cold Brew Tea (10mg CBG, 5mg THC, 12oz) slipped to fourth place, experiencing a notable drop in sales. A new entrant, the CBD/THC 2:1 Dark Cherry Sparkling Beverage (10mg CBD, 5mg THC, 355ml), debuted at fifth place, marking its first appearance in the rankings.
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.
