Market Insights Snapshot
The cannabis brand Greybeard has shown varied performance across different provinces and categories. In the Alberta market, Greybeard's Concentrates category maintained a stable ranking in the top 10 from July to September 2023, but slipped to the 12th position in October. This could be indicative of increased competition or shifting consumer preferences. Their Vapor Pens category, however, did not make it to the top 20 in any of the months, hinting at a potential area of improvement for the brand. In contrast, in British Columbia, the brand's Concentrates category saw a slight improvement in ranking from 21st in July to 18th in October, but their Vapor Pens category remained outside the top 20.
In the Ontario market, Greybeard's Concentrates category demonstrated a positive trend, moving up from the 18th position in July to 16th in October. However, their Vapor Pens category consistently ranked outside the top 20, suggesting that the brand could benefit from a re-evaluation of its strategy in this category. The brand's performance in Saskatchewan was mixed. While their Concentrates category fluctuated within the top 20, their Vapor Pens category saw a slight decline in ranking over the months. Interestingly, their Flower and Pre-Roll categories did not appear in the top 20 rankings, which may reflect a need for the brand to focus on these categories. Overall, Greybeard's performance across states and categories provides valuable insights into the brand's strengths and potential areas for growth.
In the Vapor Pens category within Ontario, Greybeard has been facing stiff competition from several brands. Notably, Papa's Herb was a strong competitor in July and August 2023, but its rank fell significantly by October, indicating a decrease in sales. Hycycle and Roilty Concentrates have been maintaining a steady presence in the market, with Hycycle slightly surpassing Greybeard in October. Interestingly, Nugz made a significant leap in rank from July to September, indicating a substantial increase in sales, despite not being in the top 20 brands in July. Greybeard's rank has remained relatively stable, but it has not managed to break into the top 20, suggesting room for growth and improvement.
In October 2023, Greybeard's top-selling product was the Dj Melon Live Resin Cartridge (1g), which maintained its number one ranking from previous months with a notable sales figure of 3501 units. The Strawberry Syrup Live Resin Cartridge (1g) ranked second, climbing from its third-place position in September. The Slymer Live Resin Cartridge (1g) dropped to the third spot in October, after holding the second position in August. The Banana Milkshake OG Live Resin Cartridge (1g) and True Sour Diamonds & Sauce (1g) held the fourth and fifth spots respectively, showing a consistent performance from the previous month. These rankings indicate a strong preference for vapor pen products among Greybeard's customers.