Market Insights Snapshot
Starting with the topical category, LivRelief has shown steady performance in British Columbia, maintaining a rank within the top 5 from July to October 2023. However, in Alberta, the brand experienced a slight drop in rankings, moving from 5th place in July to 8th place in October. This may be indicative of increasing competition in this market. Interestingly, LivRelief's performance in Ontario mirrors that of Alberta, with a slip from 4th to 8th place over the same period. It's worth noting that the absence of ranking numbers for certain months signifies that LivRelief did not make it to the top 20 brands in those states and categories.
When we examine the sales trends, it's apparent that LivRelief's sales have been declining in all three provinces from July to October. This is particularly noticeable in Alberta, where sales decreased from 25,487 in July to 4,796 in October. Similarly, in Ontario, sales fell from 58,976 to 17,710. Despite this, LivRelief managed to maintain a consistent rank in British Columbia, suggesting a resilient brand presence in this market. However, in Saskatchewan, LivRelief only managed to rank in July, with sales figures significantly lower than in other provinces. This could indicate a need for increased marketing efforts in this region.
In the Topical category within British Columbia, LivRelief has been maintaining a steady position among the top 5 brands. However, it has been experiencing a fluctuation in its ranking, moving from the 4th position in July 2023 to 3rd in August 2023, and then back to 4th in September and October 2023. The brand's sales seem to follow a similar pattern, with a peak in August followed by a decline. In terms of competition, Wildflower Canada has been leading the category, although it dropped to 3rd place in October 2023. Proofly has consistently held the 2nd rank, while Dosecann has remained steady at the 5th position. Interestingly, Even Cannabis Company made an entry into the top 6 in September and October 2023, indicating a potential new competitor for LivRelief.
In October 2023, the top-performing product from LivRelief was the 'CBD/THC 1:1 Transdermal Cream (125mg CBD, 125mg THC, 50ml)', maintaining its number one spot from previous months. It achieved a sales figure of 681 units. The 'CBD Transdermal Cream (250mg CBD, 50g)' retained its second position, while 'CBD Extra Strength Transdermal Cream (750mg CBD)' continued to rank third. The 'Frozen Grapes (3.5g)' product held the fourth rank consistently from August, while 'Larry Bird Gelato 33 (3.5g)' dropped off the ranking after July. This analysis reveals a consistent preference for topical products over flower products within the LivRelief brand.