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Oct-2024
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Overview
Market Insights Snapshot
TeaPot has shown varied performance across different provinces, particularly in the beverage category. In British Columbia, the brand maintained a steady presence, although it experienced a slight dip from rank 8 in August to rank 11 by October 2024. This indicates some fluctuations in its market hold, possibly due to increased competition or changing consumer preferences. Despite the decline in rankings, TeaPot's sales in British Columbia have seen a general downward trend from July to October, which could be a point of concern for the brand's market strategy in this province.
In contrast, Ontario has been a more promising market for TeaPot, where the brand improved its position from rank 16 in July to an impressive rank 11 by October 2024. This upward movement in rankings is accompanied by a positive sales trajectory, with October sales reaching a notable high. Such performance indicates a growing acceptance and popularity of TeaPot in Ontario's beverage market, suggesting effective marketing or product adjustments. However, the absence of TeaPot in the top 30 in other states or provinces might imply regional challenges or opportunities that the brand could explore further.
Competitive Landscape
In the competitive landscape of the beverage category in Ontario, TeaPot has demonstrated a notable upward trajectory in its rankings over the past few months. Starting from a rank of 16 in July 2024, TeaPot improved its position to 11 by October 2024, indicating a consistent rise in market presence. This upward movement is significant when compared to competitors such as RIFF, which saw a decline from rank 9 to 13 over the same period, and Green Monke, which remained relatively stable but did not improve its rank. Meanwhile, Bubble Kush showed a positive trend, moving from rank 12 to 9, slightly ahead of TeaPot. Despite these competitive pressures, TeaPot's sales figures have shown a steady increase, suggesting effective market strategies and growing consumer preference. This positive momentum positions TeaPot well against its competitors, indicating potential for further gains in rank and market share in the Ontario beverage sector.
Notable Products
In October 2024, the top-performing product from TeaPot was Good Day - Lemon Black & Pedro's Sweet Sativa Iced Tea, maintaining its number one rank for four consecutive months, with sales reaching 10,377 units. Good Day - Mango Green Tea Iced Tea held steady at the second position, although its sales showed a decline from previous months. Good Evening - Blueberry Chamomile Iced Tea secured the third spot, experiencing a notable increase in sales compared to September. Good Day - Lemonade Iced Tea remained consistent at rank four, with a slight recovery in sales after a dip in September. Lastly, CBD Lemon Black & Iced Tea continued to occupy the fifth position, with stable sales figures throughout the months.
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.
