Market Insights Snapshot
Over the span of four months from July to October 2023, Holy Mountain's performance across various categories and states has shown some interesting trends. In the Alberta market, the brand has maintained a steady presence in the Flower category, bouncing between the 16th and 31st ranks, with a notable sales increase in October. However, their Concentrates and Vapor Pens categories have struggled to break into the top 40. In the British Columbia market, the brand's Flower category has shown promising growth, moving up from rank 22 to 15, hinting at a potential upward trend.
In the Ontario market, Holy Mountain's Flower category has experienced a slight dip, dropping from rank 13 in July to rank 25 in October. Despite this, the category still remains in the top 25, indicating a solid presence in the market. The brand's Concentrates and Vapor Pens categories have maintained a steady but lower ranking, hovering around the 50th mark. The brand's performance in the Saskatchewan market has been a mixed bag, with the Flower category showing significant improvement, jumping from rank 50 to 24, while the Concentrates category has seen fluctuating rankings, missing a ranking in August altogether. This could indicate a need for improvement in this category within this market.
In the Ontario Flower category, Holy Mountain has experienced a notable fluctuation in rank over the past few months, moving from 13th place in July 2023 to 25th place in October 2023. This downward trend in rank suggests a decrease in sales, which is further corroborated by the performance of its competitors. For instance, Canaca has also seen a drop in rank, but not as drastic as Holy Mountain, suggesting that it might be faring slightly better in terms of sales. BLKMKT and Potluck have maintained relatively stable ranks, hinting at consistent sales. However, the most striking competitor is Nugz, which has significantly improved its rank, indicating a potential surge in sales. This competitive landscape suggests that Holy Mountain may need to reassess its market strategies to regain its earlier position.
In October 2023, Holy Mountain's top-performing product was the 'Holy Smokes - GMO Tropical Reign Pre-Roll 10-Pack (4g)', maintaining its number one rank from previous months with sales reaching 6788 units. The 'Holy Smokes - Ice Cream Cake Pre-Roll 10-Pack (4g)' jumped back to second place, showing an increase in popularity compared to September. The 'Vanilla Gelato (3.5g)' dropped to third place after holding the second spot in the prior two months. A new entrant in the top four was the 'GMO Tropical Reign (3.5g)', which did not rank in the top five in previous months. Lastly, the 'GMO Tropical Reign (28g)' maintained its fifth-place ranking, consistent with its position in September.