Market Insights Snapshot
Foray has shown interesting trends across different provinces and product categories. In the Edible category, Foray has consistently remained in the top 20 brands in Alberta, British Columbia, Ontario, and Saskatchewan from August to November 2023. Notably, in Ontario, the brand improved its ranking from 7th to 6th over this period. However, Foray's performance in the Vapor Pens category has been a bit mixed. While it maintained its position in the top 20 in Alberta, British Columbia, and Ontario, it didn't make the cut in Saskatchewan, where its ranking fell to 46th in November 2023.
In terms of sales, Foray's Edible category saw a slight increase in Alberta from October to November 2023. On the other hand, sales of Vapor Pens in Ontario showed a downward trend over the same period. It's also worth noting that Foray's performance in the Vapor Pens category in British Columbia saw a significant rebound in November 2023, after a dip in October. These movements indicate that Foray's performance can vary significantly across different states and product categories.
In the edible category within Ontario, Foray has maintained a consistent rank, moving from 7th place in August to 6th place in November 2023. This indicates a slight improvement in their market position. However, when compared to competitors such as Wana, Shred, Monjour, and Fly North, Foray's sales trend appears to be relatively flat. Wana and Shred, despite experiencing some fluctuations, consistently outperform Foray in sales. Monjour, while initially outperforming Foray, has seen a downward trend, ending up below Foray in November. Fly North, although ranked lower, shows a promising upward sales trend. The absence of Foray from the top 20 brands in any given month indicates that they were not among the top performers in the edible category in Ontario for that month.
In November 2023, Foray's top-performing product was the Blackberry Cream Distillate Disposable (0.3g) from the Vapor Pens category, maintaining its first place ranking from previous months with sales reaching 21,712 units. The second best-selling product was the CBD/THC 1:1 Salted Caramel Chocolate Bar (10mg CBD, 10mg THC) from the Edible category, improving its rank from third to second with sales of 19,575 units. This product's rise in rank led to the Edi's - CBD Blood Orange Soft Chews 30-Pack (600mg CBD) dropping to third place, despite a consistent performance in sales. The Fast Edi's- CBD/CBN/THC Blackberry Lavender Soft Chews 30-Pack (300mg CBD, 75mg CBN, 10mg THC) also from the Edible category, improved its ranking to fourth place. Lastly, the Balanced Mango Distillate Disposable (0.3g) from the Vapor Pens category secured the fifth position, making a comeback after not being ranked in October.