Market Insights Snapshot
In the British Columbia market, High Fidelity has seen a fluctuating performance in the Concentrates category. In May 2023, they held a strong position, ranking 9th, but saw a significant drop in June and July, falling out of the top 20. However, they managed to bounce back in August, securing the 18th spot. This shows a level of resilience and adaptability that is crucial in the highly competitive cannabis market.
Looking at the sales for High Fidelity, there was a notable decrease from May to June and July, which aligns with their drop in rankings. However, their sales increased again in August, reaching almost 40,000, which is a positive sign of recovery. Despite the ups and downs, High Fidelity has shown an ability to recover and regain their position in the market. This could be a result of strategic marketing efforts, product innovation, or changes in consumer preferences.
In the Concentrates category within BC, High Fidelity has shown a positive trend moving from a rank of 26 in July 2023 to 18 in August 2023, indicating an increase in sales and popularity. Among its competitors, Phyto Extractions also improved in rank but remained behind High Fidelity, while Greybeard fell slightly in rank, indicating a potential decrease in sales. Meanwhile, Lab Theory and Dymond Concentrates 2.0 both ranked higher than High Fidelity, with Lab Theory maintaining a consistent top 20 presence. Dymond Concentrates 2.0, however, showed a significant improvement, jumping from 24th to 16th place. This competitive landscape suggests a dynamic market with High Fidelity making notable strides but facing stiff competition, particularly from Lab Theory and Dymond Concentrates 2.0.
In August 2023, High Fidelity's top-selling product was the 'Rainbow Driver Live Rosin (1g)', from the Concentrates category, with sales reaching 484 units. This product has consistently held the top rank over the past four months. The 'Gods Breath (3.5g)' from the Flower category secured the second position, maintaining its ranking from July, but showing an improvement from its fourth position in June. The 'Londonchello Pre-Roll (1g)' from the Pre-Roll category, despite not having data for previous months, managed to secure the third position with 348 units sold. The 'Ghost Vapor OG (3.5g)' and 'Lemon Cherry Gelato Smalls (14g)', both from the Flower category, rounded out the top five, although their previous rankings are not available.