Market Insights Snapshot
In the Topical category, the feelgood brand has shown a consistent performance in British Columbia and Saskatchewan over the months of July to October 2023. In British Columbia, the brand maintained a steady rank, fluctuating slightly between the 9th and 11th positions. This consistency is also reflected in the brand's sales, which showed a promising upward trend from July to September, before experiencing a slight dip in October. The scenario is similar in Saskatchewan, where feelgood consistently ranked within the top 10 brands, with sales showing a gradual increase until September, followed by a drop in October.
On the other hand, the performance of feelgood in the Ontario market presents a different picture. The brand did not appear in the top 20 brands in the Topical category until October 2023, when it secured the 24th rank. This suggests that the brand might have faced stiff competition in this market, or perhaps it was a late entrant. However, despite the lower ranking, the brand managed to generate sales, indicating a potential for growth in this market. It would be interesting to observe how feelgood maneuvers its strategies to climb the rankings in the Ontario market in the months to come.
In the Topical category within British Columbia, feelgood has shown a consistent performance, maintaining a rank within the top 10 from July to October 2023. Notably, feelgood has managed to surpass Emprise Canada in terms of rank and sales, despite Emprise Canada's initial higher rank in July. However, feelgood's position is threatened by RHO Phyto and First Choice Cannabis, both of which have maintained a higher rank and sales throughout the period. Interestingly, Transit, despite having a higher rank and significantly higher sales in July, saw a drastic drop in both rank and sales by September, falling below feelgood. The data suggests a competitive market with brands jostling for the top positions, and feelgood's consistent performance indicates its potential for growth.
In October 2023, feelgood's top-selling product was the Blueberry Infused Pre-Roll 2-Pack (1.5g), maintaining its number one ranking from previous months with 649 units sold. The second highest performing product was the CBD:THC Facial Rejuvenating Cream (720mg CBD, 36mg THC, 90ml), moving up from its fourth place in August and second place in September, to secure the second spot in October with 71 units sold. The THC Extra Strength Muscle Cream (450mg THC, 90ml) consistently held the third rank over the four months. The Blue Magoo Pre-Roll 10-Pack (5g), which was the second best-selling product in July and August, fell out of the top three in October. The Blueberry Space Cake Crumble (2g) was the fifth highest selling product in July but did not appear in the top rankings in the following months.