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Mar-2024
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Overview
Market Insights Snapshot
In the topical category, Viridis Cannabis presents an interesting case of fluctuation and stability across two different markets. In Alberta, the brand experienced a notable decline, starting from the 15th position in December 2023 and dropping to the 20th by January 2024, before disappearing from the top 30 rankings entirely in the subsequent months. This downward trend, especially the absence from the rankings, suggests a significant challenge in maintaining market presence amidst competitive pressures. Conversely, in Saskatchewan, Viridis Cannabis showcased a more stable performance within the top 10, oscillating slightly but maintaining a strong presence. The brand's ability to stay within the 5th to 7th rank range and even improving to the 5th position by March 2024 highlights a robust consumer base and potentially effective market strategies in Saskatchewan, contrasting sharply with its struggles in Alberta.
Looking at the sales figures, there's a stark contrast in the brand's performance between the two provinces. In Saskatchewan, December 2023 sales started at 8618 units, with a notable increase each month, peaking at 3827 units in March 2024. This consistent upward trajectory in sales, despite minor fluctuations in rankings, indicates a growing consumer acceptance and possibly an effective marketing or distribution strategy that resonates with the Saskatchewan market. Alberta's initial sales figure of 1301 units in December 2023, dropping to 194 units in January 2024, paints a picture of declining market penetration, possibly due to operational challenges or shifting consumer preferences. The absence of sales data for February and March 2024 in Alberta further emphasizes the need for strategic reassessment for Viridis Cannabis in that market. These contrasting performances offer valuable insights into regional market dynamics and the importance of tailored strategies to navigate the complex cannabis industry landscape.
Competitive Landscape
In the competitive landscape of the topical cannabis market in Saskatchewan, Viridis Cannabis has shown a notable fluctuation in its ranking over the recent months, indicating a dynamic competitive environment. Starting as the 5th ranked brand in December 2023, it experienced a slight dip to 7th place in January 2024 before climbing back to 5th by March 2024. This movement reflects a resilience in sales performance amidst stiff competition, particularly from brands like 18twelve and Wildflower Canada, which have consistently held higher ranks in the same period. Notably, Wildflower Canada, moving from 4th to 3rd rank, has shown significant sales growth, positioning it as a strong competitor. Meanwhile, Dosecann and RHO Phyto also present competitive pressures but have seen more variable movements in their rankings. Viridis Cannabis's ability to maintain and slightly improve its position suggests a solid market presence and adaptability, but the brand must continue to innovate and engage consumers to sustain and enhance its market share in the face of these evolving competitive dynamics.
Notable Products
In March 2024, Viridis Cannabis saw the CBD Zen Citrus Cannabomb Bath Bomb (100mg CBD, 150g) as its top-performing product, maintaining its number one rank since December 2023 with sales reaching 277 units. Following closely, the Chocolope Blunt 3-Pack (3g) held its position at second place since January, showcasing the consistent preference for pre-rolled products among consumers. The Vault Pre-Roll 3-Pack (1.5g) experienced a notable rank improvement, moving up to the third position in March after not being ranked in February, indicating a resurgence in its popularity. Meanwhile, the Vault (1g) made its way into the top rankings for the first time in March, securing the fourth spot, which highlights a growing interest in flower category products. These rankings indicate a diverse consumer interest across different cannabis product categories, with the top products showing a mix of stability and dynamic changes in consumer preferences over the past 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.
