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Sep-2024
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Overview
Market Insights Snapshot
Virtue Cannabis has shown varied performance across different categories and regions, with notable movements in rankings. In Alberta, their Flower category has consistently hovered around the 30s, showing a slight improvement from 37th in June to 36th in September 2024. The Pre-Roll category, however, indicates a downward trend, slipping from 27th in June to 33rd by September. This decline in the Pre-Roll category, despite fluctuations in sales, suggests potential challenges in maintaining market presence. Meanwhile, in British Columbia, Virtue Cannabis entered the rankings for the Flower category in August, debuting at 69th and improving to 58th in September, signaling a positive trajectory in this market.
In Nevada, Virtue Cannabis has made a significant mark in the Concentrates category, jumping from outside the top 30 to 15th place by September, which could indicate a strategic focus or growing consumer preference in this area. However, their presence in the Pre-Roll category in Nevada is less prominent, only appearing at 46th place in September. This limited visibility in the Pre-Roll segment might reflect either a nascent entry or competitive pressures in the state. The data suggests that while Virtue Cannabis is making strides in certain areas, there are opportunities for growth and expansion, particularly in categories and regions where their presence is less established or declining.
Competitive Landscape
In the Alberta Pre-Roll category, Virtue Cannabis has experienced fluctuating ranks over the past few months, moving from 27th in June 2024 to 33rd by September 2024. This decline in rank suggests a competitive pressure from brands like Broken Coast and MTL Cannabis. Notably, Broken Coast saw a significant sales increase in August, which likely contributed to its improved rank, while MTL Cannabis also showed a strong sales performance that month, surpassing Virtue Cannabis. Despite these challenges, Virtue Cannabis maintained a relatively stable sales volume, indicating a loyal customer base that could be leveraged to regain higher rankings. Meanwhile, 1Spliff and Common Ground have shown varied performances, with Common Ground climbing to 32nd place by September, suggesting potential emerging competition. As the market dynamics continue to evolve, Virtue Cannabis may need to innovate or adjust its strategies to reclaim its competitive edge.
Notable Products
In September 2024, the top-performing product for Virtue Cannabis was the Watermelon Mjto Ice Infused Pre-Roll 5-Pack (2.5g), which climbed to the number one spot with sales reaching 1560. The Galactic Glue (28g) flower product saw a significant rise, moving from fifth in August to second place in September. Peachy Pom Bellinii Infused Pre-Roll 5-Pack (2.5g) maintained a steady performance, holding the third position after dropping from the top spot in June. The Liger Blood Infused Pre-Roll 5-Pack (2.5g) experienced a decline, falling to fourth place from its peak position in July. Additionally, the newly introduced Watermelon Mjto Ice Infused Blunt (1g) made its debut in the rankings at fifth place.
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.
