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Oct-2024
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Overview
Market Insights Snapshot
Token has shown varied performance across different categories and states over the past few months. In the Edible category in Alberta, Token has maintained a steady presence, fluctuating slightly but consistently staying within the top 30 brands. From July to October 2024, Token's ranking ranged from 26th to 28th, with sales showing a slight decline from $10,861 to $10,069. This indicates a relatively stable market position with room for improvement in sales volume. However, in the Flower category within the same province, Token's performance has declined significantly, dropping out of the top 30 by October 2024 after starting in 78th place in July. This suggests challenges in maintaining competitiveness in the Flower market in Alberta.
In New York, Token's presence is comparatively nascent in the Flower category. As of October 2024, Token entered the rankings at 98th, indicating a new or growing presence in this market. This entry into the top 100 suggests potential for growth, but also highlights the competitive nature of the Flower category in New York. The absence of Token from the top 30 in previous months could imply either a recent market entry or a gradual build-up in sales efforts. The contrasting performances in Alberta and New York highlight the brand's varying market strategies and potential areas for strategic focus.
Competitive Landscape
In the competitive landscape of the Flower category in New York, Token has experienced a notable shift in its market presence by entering the top 100 brands in October 2024, ranking at 98. This marks a significant entry for Token, as it was absent from the top 20 rankings in the preceding months. In contrast, Flower House showed a fluctuating performance, peaking at rank 41 in August before dropping to 69 by October, indicating potential volatility in their market strategy. Meanwhile, urbanXtracts maintained a relatively stable presence, hovering in the 80s and 90s range, which suggests a consistent, albeit modest, market share. Token's emergence in the rankings could be attributed to strategic marketing or product differentiation efforts that have begun to resonate with consumers, setting the stage for potential growth in sales and market influence in the coming months.
Notable Products
In October 2024, Token's top-performing product was Peanut Butter Chocolate (10mg) in the Edible category, maintaining its consistent first-place ranking for four consecutive months, despite a slight sales dip to 2150 units. The Hand Harvest (7g) from the Flower category held steady in the second position from August to October, showing resilience in its sales performance. Stoned Panda (3.5g), also in the Flower category, made its debut in October, securing the third rank with a notable entry. Topanga Cookies (3.5g) followed closely behind, ranking fourth in its category. Mimosa Orange Punch (7g) saw a decline in rank from second in July to fifth in October, reflecting a significant drop in sales over 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.
