Market Insights Snapshot
In British Columbia, Kinloch Wellness showed a consistent performance in the Capsules category, maintaining a top 10 position from July to September 2023. However, there was a slight drop in October when they slipped to the 11th position. This might be a signal of increased competition or changing consumer preferences in this category. It's worth noting that despite this slip, their sales in this category remained relatively strong, indicating a loyal customer base. On the other hand, their performance in Ontario was less consistent, with a gradual decline in rankings from 19th to 29th from July to October in the Capsules category.
When we look at the Edible category, Kinloch Wellness seems to be facing challenges in both Ontario and Saskatchewan. In Ontario, the brand's ranking slipped from 36th to 49th between July and October, while in Saskatchewan, they dipped from a high of 29th in September to 38th in October. This could be due to a variety of factors, including competition, product quality, or market dynamics. Interestingly, in the Oil category in Ontario, the brand was not amongst the top 20 in September, which might indicate a need for strategic adjustments in this segment.
In the Capsules category in British Columbia, Kinloch Wellness has shown a fluctuating performance in the market. In July 2023, it held the 9th rank, climbing to 8th in August and September, but then dropped to 11th in October. This drop in rank coincides with a significant decrease in sales. Notably, Kinloch Wellness consistently outperformed Indiva - US and LoFi Cannabis, despite their similar rankings. However, it faced stiff competition from Mood Ring and Solei, which consistently ranked higher and had higher sales. The data suggests a need for Kinloch Wellness to strengthen its market position against these competitors.
In October 2023, Kinloch Wellness' top-performing product was the CBN:CBD Softgels 4-Pack with 785 units sold. This product maintained its number one rank from the previous months. The second highest selling product was the Refresh - CBD:CBG 1:1 Mango Gummies 4-Pack, which climbed up from its previous rank in September. The Serene™- CBD Green Apple Gummy 30-Pack dropped to the third position, while the CBG + CBD Citrus Orange Infused Pre-Roll 3-Pack moved up to the fourth rank. The fifth highest selling product was a new entry, the CBD Serene Only THC Free Honey Apple Infused Oil, with 30 units sold.