Market Insights Snapshot
In Alberta, Forty Acre Blends (formerly Backforty Blends) has shown a promising upward trend in the Topical category, moving from a rank outside the top 20 in July 2023 to a commendable 17th place in October 2023. Even though the brand was not in the top 20 in July, the steady progress indicates a growing consumer preference and market penetration in Alberta. However, it's worth noting that despite the improved ranking, the sales figures show a marginal increase, suggesting a competitive market landscape.
Contrastingly, in British Columbia, the brand's performance in the Topical category has seen a decline. Starting at a high 9th place in July 2023, the brand slipped to the 16th position in August 2023 and was not in the top 20 in the following months. This drop in ranking, along with a significant sales dip from July to August, may point towards a shift in consumer preference or increased competition in the British Columbia market. The performance in Ontario has been relatively static, with the brand maintaining a consistent rank outside the top 20.
In the Topical category within the Alberta market, Forty Acre Blends (formerly Backforty Blends) has shown a steady rise in rank from not being in the top 20 in July 2023 to achieving a rank of 17 in October 2023. This suggests an increase in sales and market share, despite not having sales data for July. Among its competitors, Wildflower has seen a significant drop in rank from 9 to 18 over the same period, indicating a decrease in sales. Atlas Thrive and Pura Earth have also seen fluctuations in their rankings, but have generally maintained their positions in the middle of the pack. Mino-Ahki, on the other hand, has consistently ranked in the top 15, indicating strong sales and a solid market position. These trends suggest a dynamic and competitive market, with Forty Acre Blends (formerly Backforty Blends) showing promising growth.
In October 2023, the top-performing product from Forty Acre Blends (formerly Backforty Blends) was the 'Lemon G Pre-Roll (1g)' from the Pre-Roll category, with a significant increase in sales to 726 units. The 'Neptune OG Moon Rocks (3.5g)' from the Flower category, previously the top seller for three consecutive months, dropped to the second position with 518 units sold. The 'Blue Cheese #6 (3.5g)', also from the Flower category, maintained its steady performance, securing the third spot with a slight decrease in sales. The newcomer 'Mandarin Cookies (3.5g)' from the Flower category, entered the ranking at the fourth position. Lastly, the 'CBD Muscle Miracle Gel Skin Cream (10mg CBD)' from the Topical category made its debut in the ranking at the fifth position.