Market Insights Snapshot
HYTN has shown a consistent performance in the Beverage category across multiple states. In Alberta, the brand has maintained a position within the top 10, with a slight improvement in October 2023, moving up to the 8th rank. The story is similar in British Columbia, where HYTN has consistently held a place in the top 10 for the Beverage category. However, it's worth noting a slight dip in October 2023, dropping to the 10th rank. In Ontario, the brand's ranking in the Beverage category has been a bit more volatile, ranging from 23rd to 30th place over the four-month period.
When it comes to the Edible category, HYTN has had varied performance. In Alberta, the brand didn't make it into the top 20 in any of the observed months, indicating room for improvement in this category within the province. The brand's performance in the Edible category in British Columbia and Ontario has been somewhat better, but still outside the top 20, with rankings hovering around the 40s and 80s respectively. Interestingly, in Saskatchewan, HYTN made a notable entrance into the top 30 in the Beverage category in September 2023, but data for other months is not available, leaving some mystery around the brand's overall performance in this province.
In the Alberta Beverage category, HYTN has maintained a steady position in the top 10 brands over the period from July to October 2023. However, the brand has seen a slight dip in rank from 10th in July to 8th in October. In comparison, Summit has shown a similar trend, while Tweed has seen a significant drop in rank from 3rd to 10th. On the other hand, Solei has made a remarkable leap from being outside the top 20 in July to 9th in October. In terms of sales, HYTN has experienced a slight decline, while D'Gree has seen a similar trend. However, both Summit and Solei have shown an upward trend in sales, with Solei showing the most significant increase.
In October 2023, HYTN's top-performing product was the 'Rosewater Lemonade Sparking Drink (10mg THC, 355ml)', maintaining its number one rank from previous months. However, sales dropped to 3,811 units, the lowest in the last four months. The 'Watermelon Mint Sparkling Drink (10mg THC, 355ml)' held steady at second place, while the 'Peach Nectarine Sparkling Drink (10mg THC, 355ml)' rose back to third place after falling to fifth in August and September. The 'Pomelo Papaya Sparkling Beverage (10mg)' managed to secure the fourth position, despite not having a rank in September. Finally, the 'Citrus Nano Shot (100mg THC, 50ml)' dropped to fifth place from its previous third position.