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Oct-2024
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Overview
Market Insights Snapshot
Summit (Canada) has shown varied performance across different categories and regions, with notable movements in beverage rankings in both Alberta and British Columbia. In Alberta, the brand maintained a stable position, ranking 9th in July and August 2024, before slightly dropping to 10th in both September and October. This consistency in the top 10 indicates a relatively strong presence in the beverage category despite a declining sales trend. In contrast, British Columbia saw a more dynamic shift, with Summit's ranking dropping from 5th in July to 9th by October. This movement coincides with a significant decrease in sales, suggesting potential challenges in maintaining market share in this province.
In the United States, Summit's performance in Colorado and Michigan reveals a mixed picture. The brand did not make it into the top 30 for concentrates in Colorado for September and October, signaling a struggle to compete in this category. However, its flower category showed fluctuations, peaking at 48th in September before dropping to 73rd in October. This indicates volatility in consumer preferences or competitive pressures. Meanwhile, in Michigan, Summit entered the top 100 for concentrates in September, ranking 85th, but fell to 100th by October, suggesting initial gains that were not sustained. These movements highlight the challenges Summit faces in maintaining and growing its market presence in these competitive regions.
Competitive Landscape
In the competitive landscape of the beverage category in British Columbia, Summit (Canada) has experienced a notable decline in its market position over the past few months. Starting from a strong 5th place in July 2024, Summit (Canada) has gradually slipped to 9th place by October 2024. This downward trend is indicative of a significant decrease in sales, which have more than halved from July to October. Meanwhile, competitors like Ray's Lemonade have shown resilience, maintaining a relatively stable rank and even improving from 11th to 8th place, suggesting a competitive edge in consumer preference. Mary Jones has consistently outperformed Summit (Canada), holding steady at 6th place throughout the same period, which may indicate stronger brand loyalty or more effective marketing strategies. The consistent presence of HYTN at 10th place and TeaPot fluctuating between 8th and 11th place further highlights the competitive pressure Summit (Canada) faces in maintaining its market share. This analysis underscores the need for Summit (Canada) to reassess its strategies to regain its footing in this dynamic market.
Notable Products
In October 2024, Summit (Canada) maintained its top position with the Iced Tea Lemonade (10mg THC, 355ml) in the Beverage category, although its sales decreased to 5,298 units. The Peach Iced Tea (10mg THC, 355ml) regained its second place ranking after slipping to fourth in September, with a notable sales figure of 3,973 units. The Rocket Berry Sparkling Drink (10mg THC, 355ml) dropped to third place, showing a decline in sales from the previous month. Wild Cherry Lime Sparkling Beverage (10mg THC, 355ml) consistently held the fourth position across the months, despite a steady decrease in sales. Notably, Black Cherry Soda (Bulk) entered the rankings in October, securing the fifth position 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.
