Market Insights Snapshot
Analyzing the performance of the cannabis brand Bold, we can see some interesting trends across different states and product categories. In the Alberta market, Bold's rankings have fluctuated across all categories. For example, in the Concentrates category, the brand improved its position from 39th in September to 23rd in October 2023, indicating a significant uptick in performance. However, in the Flower category, Bold consistently ranked outside the top 20, suggesting room for improvement in this area. The Pre-Roll category showed a steady performance, maintaining a rank in the mid-40s. A noteworthy mention is the Topical category, where Bold broke into the top 20 in August and September, but was not ranked in July and October, indicating a potential volatility in this category.
Looking at other provinces, in British Columbia, Bold's performance in the Flower category saw a drop in rank from 27th in August to 36th in October. However, the brand made a remarkable jump in the Pre-Roll category, moving up to 19th in October from 39th in September. In Ontario, Bold's rank in the Flower category saw a gradual decrease over the months, while in the Pre-Roll category, the brand maintained a relatively stable position in the top 50. The Concentrates category showed significant improvement, moving from 85th in August to 48th in October. In Saskatchewan, Bold's performance in the Vapor Pens category stands out, consistently ranking in the top 20 and improving its position over time. However, in the Flower category, the brand's ranking fluctuated, indicating a need for a more consistent performance.
In the competitive landscape of the Pre-Roll category in British Columbia, Bold has experienced a significant fluctuation in its ranking over the period from July to October 2023. While Bold's rank dipped to 39 in September from 23 in July, it made a strong recovery in October, climbing back to the 19th spot. This suggests a potential inconsistency in sales performance. In comparison, BLKMKT maintained a relatively stable position, albeit slightly lower than Bold. Station House and MTL Cannabis consistently ranked higher than Bold, indicating stronger sales performance. Pistol and Paris, on the other hand, has seen a slight decline in rank, but remained in close competition with Bold. These trends highlight the dynamic nature of the cannabis market and the need for Bold to strengthen its position amidst strong competition.
In October 2023, the top-performing product from Bold was the 'Root Beer Float Pre-Roll 3-Pack (1.5g)', maintaining its number one ranking from the previous three months. Coming in second, the 'Root Beer Float Blunt (1g)' climbed two spots from its fifth-place ranking in July. The 'Death Star Pre-Roll 3-Pack (1.5g)' secured the third spot in October, dropping from its second-place position in July and August. The 'Root Beer Float (3.5g)' sustained a steady performance, ranking fourth throughout the period. Lastly, the 'Limited Cultivar Series - Death Star (3.5g)' rounded out the top five, despite a dip in sales to 3,522 units in October from its high of 8,770 units in July.