HYTN

Data Snapshot: Apr 04, 2024
HYTN Cannabis Brand Logo
$50K+

Mar-2024

Sales

Decline

Trend

6-Month

14

Product Count

SKUs

HYTN

Overview

HYTN, a Vancouver-based cannabis company, stands out for its application of proprietary Elevation Technology, resulting in the fastest-acting cannabis products on the market. Known for its sparkling cannabis beverages and a determined mission to become a top provider in all federally regulated markets, HYTN is expanding its operations through strategic agreements and acquisitions, including recent entry into the Quebec market. Boasting a purpose-built production facility in Kelowna, the company's commitment to elevate quality is evident in every consumer's experience with the HYTN brand.
Product Trends

HYTN Categories

HYTN Sales

Market Insights Snapshot

HYTN Historical Sales by Category

In the beverage category, HYTN has shown a consistent presence across multiple provinces, with a notable performance in Alberta and British Columbia. In Alberta, HYTN's ranking fluctuated slightly over the months, moving from 8th in December 2023 to 10th in March 2024, despite a dip in sales in January 2024 to $41,513 from December's $57,325. This indicates a strong consumer preference, allowing HYTN to maintain a top 10 position amidst competition. British Columbia showed a similar trend, with HYTN maintaining a top 10 ranking, peaking at 8th place in January 2024. However, the brand faced challenges in Ontario, where it struggled to maintain a position within the top 30 brands in the beverage category, dropping from 26th in December 2023 to 36th in March 2024, highlighting a potential area for growth or reevaluation of market strategies.

When it comes to edibles, HYTN's performance in Ontario and Saskatchewan tells a story of varied success. In Ontario, HYTN faced significant challenges, with its ranking in the edibles category being 96th in December 2023, and no subsequent rankings for the following months, indicating a possible exit from the top 30 brands or a need for strategic adjustments in this category. Conversely, in Saskatchewan, while the brand saw a peak ranking of 29th in January 2024 for edibles, it experienced a sharp decline by February 2024, falling to 42nd place and not making it back into the rankings afterwards. This fluctuation suggests a volatile market presence in Saskatchewan, possibly influenced by competitive dynamics or consumer preferences shifting away from HYTN's edible offerings.

Mar-2024 Rank
Beverage
Edible
10
10
36
HYTN

Competitive Landscape

In the competitive landscape of the beverage category in Alberta, HYTN has experienced fluctuations in its market position, demonstrating both resilience and challenges in maintaining its rank among top competitors. Initially ranked 8th in December 2023, HYTN saw a dip to 10th place in January 2024 before climbing back to 7th in February and then settling at 10th in March. This rollercoaster in rankings reflects a dynamic market, with HYTN facing stiff competition from brands like RIFF, which climbed from 13th to 11th place, and Summit (Canada), which consistently improved from 10th to 8th place. Notably, Zele and Summit also showed significant presence, with Zele moving from 9th to 9th place and Summit from 14th to 12th, indicating a tightly contested segment. Despite these shifts, HYTN's sales performance saw a notable peak in February 2024, suggesting a strong consumer response that could leverage for future growth amidst a competitive field.

HYTN market ranking for AB Beverage

HYTN

Notable Products

In March 2024, HYTN's top-performing product was the Watermelon Mint Sparkling Drink (10mg THC, 355ml), ascending to the number one spot with sales reaching 4732 units, marking a significant increase from its consistent second-place ranking in the previous months. Following closely, the Rosewater Lemonade Sparkling Drink (10mg THC, 355ml) experienced a slight dip, moving down to second after leading the sales chart from December 2023 through February 2024. The Citrus Nano Shot (100mg THC, 50ml) saw a notable improvement, climbing two ranks to secure the third position, showcasing a growing consumer interest in concentrated THC formats. The Peach Nectarine Sparkling Drink (10mg THC, 355ml) maintained a steady performance, holding onto the fourth rank, while the newcomer, Pomelo Papaya Sparkling Beverage (10mg), made an impressive entry, directly landing in the fifth spot. Overall, HYTN's beverage category demonstrated dynamic shifts, with the Watermelon Mint Sparkling Drink leading the pack and new products stirring the competition.

Product Rank
Category
Dec-2023
Jan-2024
Feb-2024
Mar-2024
Watermelon Mint Sparkling Drink (10mg THC, 355ml)
Beverage
2
2
2
1
Rosewater Lemonade Sparking Drink (10mg THC, 355ml)
Beverage
1
1
1
2
Citrus Nano Shot (100mg THC, 50ml)
Beverage
4
5
5
3
Peach Nectarine Sparkling Drink (10mg THC, 355ml)
Beverage
3
4
4
4
Pomelo Papaya Sparkling Beverage (10mg)
Beverage
>5
>5
>5
5
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