Market Insights Snapshot
In the competitive cannabis market, LITTI has shown significant movements across categories and states, particularly in Alberta and Ontario. In Alberta, LITTI's performance in the Vapor Pens category demonstrates a consistent presence in the top 25 brands from October 2023 through January 2024, with rankings slightly fluctuating between 23rd and 24th position. This stability, however, contrasts with a downward trend in sales, from 203,364 in October 2023 to 148,355 by January 2024, indicating a potential challenge in maintaining market share despite consistent ranking. On the other hand, LITTI's entry into the Pre-Roll category in Alberta in January 2024 at the 81st position, without prior rankings, suggests a new venture that may need strategic focus to climb the competitive ladder.
Meanwhile, in Ontario, LITTI’s trajectory in the Vapor Pens category is notably upward, moving from the 25th spot in October 2023 to an impressive 13th by January 2024, accompanied by a significant increase in sales from 291,969 to 692,273. This positive trend highlights LITTI's growing popularity and effectiveness in capturing market share within Ontario's Vapor Pens category. Conversely, the brand's performance in the Pre-Roll category tells a different story, with a late entry in December 2023 at 88th and a slight improvement to 85th by January 2024. The lack of presence in the top 20 brands for the initial months and a modest upward movement thereafter might indicate challenges in gaining a foothold or reflect strategic pacing in a possibly saturated market segment.
In the competitive landscape of the Vapor Pens category in Ontario, LITTI has shown a notable upward trajectory in its ranking over the recent months, moving from 25th in October 2023 to 13th by January 2024. This rise is indicative of a significant increase in sales, suggesting that LITTI is gaining traction and possibly capturing market share from its competitors. Noteworthy competitors include Sherbinskis, which maintained a stable position around the 10th to 11th rank, and Ness, which saw a slight decline from 8th to 12th rank in the same period. Another competitor, Weed Me, demonstrated a remarkable improvement, leaping from 39th to 15th place, indicating a significant increase in sales and competitiveness. Versus also showed progress, albeit more modest, moving from 11th to 14th. LITTI's performance, especially in terms of sales growth and improvement in rank, positions it as a brand with increasing influence and competitiveness in the Ontario Vapor Pens market.
In January 2024, LITTI's top-performing product was the Slappn' Berry Distillate Cartridge (1g) from the Vapor Pens category, regaining its number one rank with 7774 units sold. Following closely was the Gulupa Gulp Distillate Cartridge (1g), also in the Vapor Pens category, which ranked second after being the top seller in December 2023. The third position was secured by a newcomer, Dope AF Vanilla Liquid Diamonds Cartridge (1g), indicating a strong market entry. PB&J WTF Infused Pre-Roll (1g) and Hella Bubba Distillate Cartridges (1g) rounded out the top five, marking their first appearance in the rankings. This shift indicates a dynamic change in consumer preferences within LITTI's product line, emphasizing the growing popularity of Vapor Pens.