Market Insights Snapshot
House of Terpenes has shown some interesting trends across the provinces. In Alberta, the brand has consistently been in the top 20 brands for the Beverage category from August to October 2023. However, there was a slight drop in their ranking in November 2023, indicating they did not make the top 20 that month. This movement is noteworthy and could be a potential area of focus for the brand. On the other hand, in Saskatchewan, the brand has maintained a steady presence in the top 15 brands for the Beverage category, showing a more stable performance in this province.
In British Columbia, House of Terpenes has fluctuated within the top 25 brands for the Beverage category. The brand was not in the top 20 in September and November 2023, which could signal a need for increased brand visibility or marketing efforts. Meanwhile, in Ontario, the brand's ranking has been outside the top 20 from August to November 2023. Despite this, a slight upward trend can be observed in its rank from September to November, suggesting a potential growth opportunity for House of Terpenes in this market.
In the Ontario Beverage category, House of Terpenes has maintained a consistent position within the top 35 brands from August to November 2023, with a slight improvement in rank from 32 to 31. In comparison, Summit has shown a more volatile trend, with rankings fluctuating from 26 to 43. Palmetto and Thunder & Lightning have shown a steady increase in their rankings, moving closer to House of Terpenes' position. However, Aspire has made a significant leap from rank 56 to 28, surpassing House of Terpenes in November. While House of Terpenes has seen a slight decline in sales over the period, Aspire's sales have dramatically increased, indicating a potential threat to House of Terpenes' market position.
In November 2023, the top-performing products from House of Terpenes were predominantly beverages. The Canntinis - THC-SAR Sparkling Beverage (10mg THC, 236ml) maintained its position as the top seller, with sales reaching 1643 units. Following closely was the Canntinis - Cranberry Cosmos Citrus Sparkling Water (10mg THC, 236ml) and Canntinis - Ginger Lime Mule Sparkling Water (10mg THC, 236ml), ranking second and third respectively. The CBD/THC 1:1 Limonene Sparkling Tonic (5mg CBD, 5mg THC, 355ml) improved its ranking from fifth to fourth, while the CBD/THC 1:1 Myrcene Sparkling Tonic (5mg CBD, 5mg THC 355ml) dropped to fifth. These rankings showed little fluctuation from previous months, indicating a consistent preference among consumers for these products.