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Aug-2024
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Overview
Market Insights Snapshot
TeaPot's performance in the Beverage category across different regions has shown notable movements. In British Columbia, TeaPot experienced a slight dip in rankings from May to July 2024, moving from 8th to 9th place, but saw a resurgence in August, climbing back to 7th place. This upward movement is significant as it indicates a recovery and potential growth in consumer demand. The sales figures reflect this trend with a substantial increase in August, suggesting that TeaPot's strategies or market conditions in British Columbia may be favoring their brand as of late summer 2024.
In Ontario, TeaPot's performance has been relatively stable, though it experienced minor fluctuations in rankings. Starting at 17th place in May, the brand improved to 13th in June, then slightly dropped to 16th in July before rising again to 14th in August. Despite not breaking into the top 10, the brand's consistent presence in the rankings indicates steady consumer interest. The sales figures in Ontario also show a positive trend with a peak in August, suggesting that TeaPot is maintaining a solid foothold in the market despite the competitive landscape.
Competitive Landscape
In the Ontario beverage category, TeaPot has shown a dynamic performance over the past few months, with its rank fluctuating between 13th and 17th place. Notably, TeaPot's sales have seen a positive trend, rising from May to August 2024, indicating growing consumer interest. However, TeaPot faces stiff competition from brands like Vacay and Collective Project. Vacay consistently maintained a higher rank, peaking at 11th place in July and showing steady sales growth. Meanwhile, Collective Project experienced a drop in rank from 7th in May to 13th in August, although its sales remained robust. Tweed and Señorita also present significant competition, with Tweed re-entering the top 20 in August at 15th place and Señorita showing a notable improvement in rank from 18th in May to 14th in July. These competitive dynamics suggest that while TeaPot is gaining traction, it must continue to innovate and market aggressively to improve its standing and capture a larger market share.
Notable Products
In August 2024, the top-performing product for TeaPot was Good Day - Lemon Black & Pedro's Sweet Sativa Iced Tea (5mg THC, 12oz), maintaining its number one rank consistently from previous months with an impressive sales figure of 11492 units. Following closely, Good Day - Mango Green Tea Iced Tea (5mg THC, 355ml) also held its second rank, showing a significant sales increase to 10837 units. Good Evening - Blueberry Chamomile Iced Tea (5mg THC, 355ml) climbed to the third position from fourth, indicating a positive trend. Good Day - Lemonade Iced Tea (5mg THC, 12oz) dropped one spot to fourth place, reflecting a slight decline in sales. Lastly, CBD Lemon Black & Iced Tea (20mg CBD, 12oz) remained in the fifth position, showing steady but modest growth.
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.
