Hover Beverages

Data Snapshot: May 05, 2024
Hover Beverages Cannabis Brand Logo
<$50K

Apr-2024

Sales

Strong Growth

Trend

6-Month

3

Product Count

SKUs

Hover Beverages

Overview

Markets

Hover Beverages Locations

Product Trends

Hover Beverages Categories

Hover Beverages Sales

Market Insights Snapshot

Hover Beverages Historical Sales by Category

In the competitive landscape of cannabis beverages, Hover Beverages has shown a notable performance across different states, albeit with varying degrees of success. In Ontario, the brand has maintained a consistent presence within the top 30 from January to April 2024, with rankings fluctuating slightly between the 29th position in January and peaking at the 23rd position in March before settling at the 26th position in April. This upward trajectory in the rankings, especially the peak in March, suggests a growing consumer interest or strategic marketing efforts that have favorably impacted its market position. However, the brand's performance in Alberta presents a different story. Hover Beverages did not make it into the top 30 until April 2024, where it debuted at the 21st rank. This sudden appearance could indicate a recent launch or an increase in marketing activities within the province, hinting at a potential growth area for the brand.

While Hover Beverages has demonstrated an ability to capture and grow its market share in Ontario, the lack of presence in Alberta's top 30 rankings until April signals a significant opportunity for expansion and improvement. The sales data in Ontario, showing a significant jump from January's 13,854 units to 30,305 units in March, underscores the brand's positive momentum in this region. This growth in sales and improvement in rankings could reflect effective brand strategies or product reception that Hover Beverages might replicate in other markets like Alberta. However, the detailed strategies behind these movements remain unshared, inviting speculation on the factors driving Hover Beverages' performance. The brand's late entry into the Alberta market top 30 and its steady presence in Ontario's competitive landscape suggest a brand on the move, with potential untapped opportunities in other states or provinces yet to be fully leveraged.

Apr-2024 Rank
Beverage
21
26
Hover Beverages

Competitive Landscape

In the competitive landscape of the beverage category in Ontario, Hover Beverages has shown a notable upward trajectory in its rank over the recent months, moving from not being in the top 20 in January 2024 to securing a position by April 2024. This improvement in rank is indicative of a growing consumer interest and an increase in sales, despite the highly competitive market. Among its competitors, Yandi Fresh initially held a stronger position but experienced a significant drop in rank by April 2024, which could signal a shifting preference among consumers. On the other hand, Snap Back has maintained a relatively stable position, slightly improving by April 2024, and showing a consistent consumer base. Both Summit (Canada) and Embody have fluctuated in their rankings but remained outside the top 20, indicating a struggle to capture a significant market share. Hover Beverages' upward movement in rank, despite the intense competition, suggests a positive reception from consumers and a potential for further growth in the Ontario beverage market.

Hover Beverages market ranking for ON Beverage

Hover Beverages

Notable Products

In Apr-2024, Hover Beverages saw its CBD:THC 1:1 Peach Mango High Sparking Beverage (10mg CBD, 10mg THC, 355ml) maintain its top position in the Beverage category, with impressive sales reaching 3089 units. Following closely, the CBD:THC 1:1 Lemon Iced Tea High Sparkling Beverages (10mg CBD, 10mg THC) secured the second rank, indicating a consistent preference among consumers for these top-tier products. Notably, both products have held their respective first and second rankings consistently from January through April 2024, showcasing steady consumer demand. The sales figure for the Peach Mango beverage in April notably outpaced its previous months, highlighting an increasing trend in its popularity. This data suggests that Hover Beverages' focus on these particular products has been well-received, and their stable rankings indicate strong brand loyalty among their customer base.

Product Rank
Category
Jan-2024
Feb-2024
Mar-2024
Apr-2024
CBD:THC 1:1 Peach Mango High Sparking Beverage (10mg CBD, 10mg THC, 355ml)
Beverage
1
1
1
1
CBD:THC 1:1 Lemon Iced Tea High Sparkling Beverages (10mg CBD, 10mg THC)
Beverage
2
2
2
2
View product & sales data

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