Market Insights Snapshot
Latitude, a cannabis brand known for its topicals, has demonstrated notable performance in several markets. In Alberta, Latitude moved from being unranked in July 2023 to breaking into the top 20 by August. The brand continued to climb the ranks, reaching 12th place by October. This upward trajectory suggests a growing popularity and consumer preference for Latitude's products in this province. It's also worth noting that sales in Alberta increased significantly in October, pointing to a promising trend.
In contrast, Latitude's performance in Ontario and British Columbia has been less consistent. In Ontario, Latitude started off in the lower ranks and, despite some fluctuations, managed to improve its position to 19th by October. British Columbia, on the other hand, only saw Latitude enter the top 20 in October. While these rankings indicate a presence in the market, the brand's inconsistent performance in these provinces suggests room for growth and improvement.
In the Topical category for Alberta, Latitude has shown a significant improvement in its ranking from not being in the top 20 in July 2023 to reaching the 12th spot by October 2023. This upward trend suggests a growing market presence, despite not having sales data for July. In comparison, Viridis Cannabis and Emprise Canada have maintained relatively stable rankings, with Viridis slightly outperforming Emprise. However, both brands have seen a decrease in sales over the same period. RHO Phyto and Jointment by Blunt Botanicals have higher rankings than Latitude, but they too experienced a drop in sales in October. This suggests that while Latitude's current position is lower than some competitors, its upward trend and increased sales could pose a threat to these established brands.
In October 2023, the top-performing product from Latitude was the Sex Pot Intimacy Oil, which held its first-place rank from previous months. This product had a significant increase in sales, with 67 units sold, up from 28 in September. The CBD In Bloom Lavender Chamomile Bath Salts moved up to the second position in October, with 6 units sold, even though it was not ranked in the previous months. The CBD Soothe Operator Chamomile Oatmeal Lotion, which was second in September, did not rank in the top products for October. The Night Shift - CBD/THC 1:1 Ylang-Ylang Charcoal Bath Salts, previously ranked second in July and September, also did not make the top products list for October.