Market Insights Snapshot
Starting with Alberta, Ace Valley's performance in the Beverage and Edible categories has seen some fluctuations. While they managed to improve their ranking in the Beverage category from 33rd to 31st place from July to August 2023, they unfortunately slipped back to 37th place in the following months. Their Edibles didn't fare much better, with a steady decline from 31st to 38th place over the same period. This is indicative of a potential struggle to maintain a strong market presence in Alberta, especially considering the absence of the brand from the top 20 in these categories.
On the other hand, Ace Valley's performance in Ontario and Saskatchewan has been more promising. In Ontario, their Edibles have consistently stayed within the top 25 brands, suggesting a strong foothold in this category. In Saskatchewan, Ace Valley's Beverage category has shown a positive trend, improving their ranking from 20th to 15th place from July to October 2023. However, their performance in the Vapor Pens category deserves attention as they have made a significant leap from 66th to 45th place within the same period. This could signal a growing interest in this product line within the Saskatchewan market.
In the Ontario Edible category, Ace Valley has seen a slight improvement in its rank over the four-month period from July to October 2023, moving from 24th to 22nd place. This is a positive trend, despite not breaking into the top 20. In comparison, Kiva has seen a consistent drop in rank, indicating a decrease in sales. Aurora Drift, a direct competitor, has also seen a decline in rank, dropping from 13th to 21st place. Interestingly, Nowadays has shown a significant improvement, moving up from 43rd to 24th place, indicating a potential threat to Ace Valley. Lastly, Glenn's has managed to break into the top 20, moving from 27th to 20th place, showing a stronger performance than Ace Valley in the same period.
In October 2023, the top-performing product from Ace Valley was the CBD/THC 5:1 Lust Cherry Rose Gummies 2-Pack, maintaining its position from the previous month with sales of 1500 units. Following closely in second place was the CBN/THC 1:2 Blackberry Lemon Dream Gummies 2-Pack, which also held its ranking from September. The Thrust - Watermelon Goji Gummies 2-Pack fell to third place in October after previously holding the top spot in August. The Moonwave - CBD:THC 5:1 Lavender, Blackberry, and Vanilla Sparkling Beverage remained steady at the fourth position. A new entrant to the top five was the Sativa Gelato Distillate Cartridge, debuting at fifth place with 285 units sold.