Market Insights Snapshot
Hiway, a popular cannabis brand, has shown varied performance across different states and categories. In Alberta, Hiway has maintained a steady presence in the Flower and Pre-Roll categories, although there was a slight decline in Flower rankings from July to October 2023. On the other hand, the brand's performance in British Columbia has been impressive in the Flower category, consistently ranking within the top 10. However, the Concentrates category in British Columbia has seen no ranking from September 2023 onwards, indicating that Hiway might not be among the top 20 brands in this category.
When it comes to Ontario, Hiway has seen a significant improvement in the Flower category, moving from the 23rd position in July to 13th in September. This upward trend shows promise, although the brand's performance in the Concentrates category has been less impressive, with a downward trend in rankings. In Saskatchewan, Hiway's performance in the Flower category was remarkable, moving up from the 15th position in July to 4th in October. However, the brand's ranking in the Pre-Roll and Vapor Pens categories has been inconsistent and mostly outside the top 20, suggesting room for improvement.
In the Flower category within Ontario, Hiway has shown a notable upward trend, moving from not being in the top 20 in July 2023 to the 15th position by October 2023. This progress is significant, especially when compared to competitors such as Tweed and Versus, which have seen a decrease in rank over the same period. Meanwhile, FIGR has maintained a relatively stable position in the middle of the pack, while Pure Laine has shown volatility, moving up and down the ranks. Despite not being in the top 20 in July, Hiway's sales have increased consistently, surpassing some competitors like Pure Laine and FIGR by October 2023. This upward trend in both rank and sales suggests a growing popularity and market acceptance for the Hiway brand.
In October 2023, Hiway's top-performing product was the Sativa Pre-Roll 2-Pack (2g) from the Pre-Roll category, maintaining its first rank consistently from July 2023. It achieved a significant sales figure of 47,520 units in October. The second highest selling product was the Indica Pre-Roll 2-Pack (2g), also from the Pre-Roll category, retaining its second rank over the past four months. Notably, the Slow Lane Indica (3.5g) from the Flower category made a strong debut in October, securing the third rank. The Scott's OG Pre-Roll (0.5g) dropped to the fourth rank in October from its third position in the previous three months.