Market Insights Snapshot
In the British Columbia market, LoFi Cannabis has shown a consistent performance in the Capsules category, maintaining a steady ranking in the top 15 from July to October 2023. Sales in this category also showed an upward trend, indicating a growing consumer preference. However, the brand's performance in the Flower category was not as positive, failing to secure a position in the top 20 in September and October. On the brighter side, LoFi Cannabis has been performing exceptionally well in the Oil category, consistently securing a spot in the top 5 and showing a strong upward sales trend.
On the other hand, in the Ontario market, LoFi Cannabis's performance has been mixed. The brand managed to break into the top 25 in the Capsules category in October, but no data is available for the earlier months. In the Oil category, the brand's ranking has been slipping, moving from 21st position in July to 29th in October, accompanied by a downward sales trend. In Saskatchewan, LoFi Cannabis made it to the top 25 in the Oil category, but no further details are available to analyze the brand's performance in this market.
In the Oil category within British Columbia, LoFi Cannabis has maintained a steady rank, holding the 4th position from August to October 2023. This is a slight improvement from its 5th place rank in July 2023. However, it's worth noting that LoFi Cannabis has been outperformed by competitors like MediPharm Labs, Pura Vida, and Glacial Gold consistently. MediPharm Labs and Pura Vida have held the 2nd and 3rd positions respectively throughout this period, while Glacial Gold, despite a slight drop in rank, still outperforms LoFi Cannabis. On a positive note, LoFi Cannabis has shown a consistent upward trend in sales, surpassing NightNight who, despite improving its rank from 9th to 5th, still lags behind LoFi Cannabis in sales.
In October 2023, LoFi Cannabis's top-performing product continued to be the CBD 1500 Oil (30ml), maintaining its number one rank from previous months with an impressive 2061 units sold. The second place was held by CBD Oil 2500 (50ml), which had a slight rank fluctuation in August but managed to secure its position in October. Nostalgia (3.5g) from the Flower category, despite a drop in sales, managed to hold onto its third rank. The fourth and fifth spots were consistently held by CBD 650 Carmagnola Full Spectrum Oil Cartridge (1g) and CBD Softgels 1500 30-Pack (1500mg CBD, 60mg THC) respectively, both showing a steady sales increase over the months. Overall, the rankings remained fairly stable from July to October, with only minor fluctuations in the top five products.