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Sep-2024
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Overview
Market Insights Snapshot
Token's performance across various categories and states/provinces has shown interesting trends in recent months. In Alberta, the brand has maintained a presence in the Edible category, albeit with a slight decline, ranking from 25th in July to 27th by September. This indicates a steady, albeit modest, competition in the market. However, Token's Flower category in Alberta has not been able to secure a spot in the top 30 since July, suggesting a need for strategic adjustments to regain market traction. It's noteworthy that while sales in the Edible category saw a peak in July, they slightly dipped in August, signaling potential seasonal or competitive factors at play.
In New York, Token's presence in the Flower category has been consistent, yet it hasn't broken into the top 30 rankings throughout the summer months. This consistency, while a positive sign of stability, also highlights the challenges Token faces in a highly competitive market. The sales figures have shown a downward trend from June to August, which may reflect broader market conditions or consumer preferences shifting away from this category. The absence of a ranking in September could be seen as a strategic opportunity for the brand to reassess its offerings and marketing strategies to better capture market share in the coming months.
Competitive Landscape
In the competitive landscape of the Edible category in Alberta, Token has shown a gradual improvement in its market presence over the summer months of 2024. Initially absent from the top 20 rankings in June, Token made its entry at rank 25 in July and maintained a consistent presence, albeit with a slight decline to rank 27 by September. This upward trajectory in the earlier months suggests a growing brand recognition and consumer interest. In contrast, Wana consistently held a strong position, starting at rank 4 in June and only dropping to rank 6 by August, indicating a robust market hold. Meanwhile, Bernard's Cannabis Creations experienced a significant drop from rank 15 in June to rank 25 in September, which might suggest potential opportunities for Token to capture market share from competitors facing declining sales. As Token continues to climb the ranks, it will be crucial to monitor these trends and strategize accordingly to capitalize on market shifts and consumer preferences.
Notable Products
In September 2024, Token's top-performing product was Peanut Butter Chocolate (10mg) in the Edible category, maintaining its first-place rank for four consecutive months with a notable sales figure of 3056 units. Mimosa Orange Punch (7g) in the Flower category remained consistently in second place, although its sales have significantly decreased since June. The rankings for 3 Kings (3.5g) and Silver Surfer Haze (3.5g) in the Flower category are not available for September, but they had previously held the third and fourth positions in August. Skywalker OG (3.5g) dropped out of the top five after being ranked third and fifth in prior months, indicating a decrease in its popularity. Overall, the Edible category seems to be outperforming the Flower category in terms of stability and sales 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.
