Market Insights Snapshot
In the Beverage category, Collective Project has shown a varied performance across different states. In Alberta, the brand has experienced a slight drop in ranking from 11th in August to 13th in November 2023. While this isn't a drastic drop, it does indicate a potential need for improvement. On the other hand, in British Columbia, Collective Project has maintained a steady 4th place ranking from August through November 2023, indicating a consistent performance in this market. However, the brand's strongest performance is undoubtedly in Ontario, where it has held a strong 2nd place ranking over the same period.
Collective Project has also ventured into the Edible category, but only in Ontario. Starting from a low rank of 62 in August, the brand has made significant strides to reach 29th place by November. While this is a commendable improvement, it's worth noting that the brand hasn't managed to break into the top 20 in this category. In Saskatchewan, the brand made its debut in the Beverage category in November 2023, securing the 9th place. However, due to the lack of data for the preceding months, it's difficult to assess the brand's performance trend in this market.
In the Ontario Beverage category, Collective Project consistently ranks second, trailing behind XMG and ahead of Versus and Phresh Cannabis Beverages. While Collective Project has maintained its rank, it's worth noting that its sales have been gradually decreasing over the period from August to November 2023. Despite this, it still outperforms Phresh Cannabis Beverages, which has seen a similar downward trend but at a lower sales volume. Versus, ranking third, also shows a decline in sales but remains a significant competitor. The leading brand, XMG, despite experiencing a drop in sales, continues to hold a higher sales volume than Collective Project. The data suggests a competitive market with room for Collective Project to strategize and potentially improve its position.
In November 2023, Collective Project's top-performing product was the CBD/THC 1:1 Blood Orange, Yuzu & Vanilla Sparkling Juice, with sales reaching 32,468 units. This product has consistently held the top rank since August 2023. Following closely in second place was the Day Tripper - CBD:THC 1:1 Raspberry and Vanilla Sparkling Juice, selling 11,473 units in November. The CBD:THC 1:1 Mango Pineapple & Coconut Sparkling Juice maintained the third position, while the CBD/THC 1:1 Cosmic Cowboy Cherry & Vanilla w/ Black Cherry Drink came in fourth. A new entrant to the top five was Botany- White Peach & Cardamom Sparkling Botanical Water, which climbed up to the fifth rank in November from its previous position outside the top five.