Market Insights Snapshot
In the Alberta market, Ceres' performance in the Edibles category seems to be struggling as it didn't even rank in the top 20 for the months of August, September, and October. This could be a point of concern as it indicates a lack of competitive edge in this category. On the other hand, in Washington, Ceres has shown consistent top-tier performance in multiple categories. Their Capsules, Tincture & Sublingual, and Topical products all maintained a steady rank of 3 and 1 respectively throughout the four-month period. This consistency suggests a strong and loyal customer base in these categories.
Furthermore, Ceres' Edibles category in Washington also demonstrated strong performance, maintaining a rank within the top 5 for the entire period. This is a significant improvement compared to their performance in the same category in Alberta. The sales data also indicates a positive upward trend, adding to the evidence of Ceres' strong market presence in Washington. However, it's worth noting that while Ceres holds the top spot in the Topical category, there was a slight dip in sales in October compared to September. This could be a normal fluctuation or a signal of emerging competition. The specifics behind these movements, as well as strategies for potential growth, are topics worth exploring further.
In the Edible category in Washington, Ceres has shown a consistent performance, maintaining its rank at 5th place from August to October 2023, even surpassing Green Revolution in August. While Ceres' sales have been increasing over this period, Green Revolution, ranked 6th in August and September and 7th in October, has been experiencing a decline. The top three competitors, Journeyman, Hot Sugar, and Smokiez Edibles have maintained their ranks at 3rd, 4th, and 7th respectively, with Journeyman and Hot Sugar seeing a steady increase in sales, and Smokiez Edibles showing a slight increase in October. This data indicates that while Ceres is performing well, there is strong competition in the Edible category in Washington.
In October 2023, Ceres' top-performing product was the 'CBD/THC 1:1 Xtra Strength Dragon Balm Roll-Up', which maintained its number one rank from previous months with a sales figure of 17168 units. The 'CBD/THC 1:1 Sativa Assorted Fruit Chews 10-Pack' ranked second, moving up from fourth place in September. The 'CBD:CBN:CBG Dragon Balm Xtra Strength Roll On' held the third spot, a slight drop from its previous rank. The 'CBD/THC 1:1 Dragon Deep Tissue Salve' slipped to fourth place, having been ranked second in September. Finally, the 'CBD/THC 1:1 Indica Assorted Fruit Chews 10-Pack' entered the top five for the first time in October.