Market Insights Snapshot
In the edible category, DynaWellness has seen varied performance across different states. In Alberta, the brand started strong in August 2023, ranking 12th, but experienced a significant drop in the following months, falling out of the top 20 by September and further down to 48th by November. This is indicative of a decline in the brand's popularity in this market. On the other hand, in Saskatchewan, DynaWellness has maintained a relatively steady position in the top 20, with ranks ranging from 10th to 15th over the four-month period. This suggests a more stable consumer base in Saskatchewan.
Meanwhile, in British Columbia and Ontario, DynaWellness has had a somewhat similar trajectory to Alberta, albeit less severe. In British Columbia, the brand was in the top 20 in August but fell to 33rd place in September and remained outside the top 20 in October. Notably, no ranking data is available for November, indicating that the brand did not make the top 20. In Ontario, DynaWellness started at 16th place in August, but gradually dropped to 49th place by November. These trends suggest areas for potential improvement in the brand's performance in these markets.
In the Saskatchewan edible cannabis market, DynaWellness has been experiencing some fluctuations in rank and sales. In the period from August to November 2023, DynaWellness initially improved its rank from 12th to 10th place, but then dropped to 15th by November. This suggests a potential loss of market share, especially as competitors like Back 40 Cannabis and Olli maintained more stable rankings within the top 20 brands. However, it's worth noting that some brands like Fly North and Leisure Club were not even in the top 20 in August but have since risen in rank, indicating a highly competitive and dynamic market. The sales trends mirror the ranking changes, with DynaWellness experiencing a dip in sales in November, while competitors like Back 40 Cannabis and Olli have had relatively stable sales, and Fly North and Leisure Club have seen increases. This data suggests that DynaWellness may need to strategize to regain its earlier position and counter the aggressive growth of competitors.
In November 2023, the top-performing product from DynaWellness was the Dynathrive - CBD Pomegranate Soft Chews 30-Pack (300mg CBD), maintaining its top position from October. The second-best performer was Dyna Thrive Pro - CBD Blueberry Acai Soft Chews 30-Pack (750mg CBD), moving up two spots from its fourth position in October. The third spot was taken by DynaThrivePro - CBG:CBD 1:1 Asian Pear Soft Chews 30-Pack (300mg CBG, 300mg CBD), which slipped one rank down from its second position in October. Notably, Dynathrive - CBD Pomegranate Soft Chews 30-Pack (300mg CBD) garnered the highest sales figure of 238 units. Meanwhile, Dynathrive- CBD Apple Cider Vinegar Soft Chews 7-Pack (70mg CBD) entered the top four, showing a significant uptick in its popularity.