Market Insights Snapshot
Starting with the performance of Mood Ring in Alberta, we can see that the brand has maintained a fairly stable ranking in the Capsules category, fluctuating only slightly between 12th and 13th place from August to November 2023. However, their ranking in the Vapor Pens category has shown significant improvement, jumping from 98th to 61st place within the same period. On the other hand, the brand did not rank in the top 20 in the Flower category in August and September, but managed to secure the 98th spot in October. In the Oil category, the brand has been consistently in the top 15, but has not made any significant upward movement.
Turning our attention to British Columbia, Mood Ring has remained consistently in the top 10 for the Capsules and Oil categories. Particularly noteworthy is the brand's performance in the Oil category, where it climbed from 11th to 6th place between August and November 2023. However, the brand's performance in the Flower and Vapor Pens categories has been less impressive, with rankings consistently outside the top 20 and a downward trend observed in the Flower category. In Ontario, the brand has shown promising improvement in the Capsules category, moving from 21st to 12th place, while in Saskatchewan, the brand's performance in the Flower category has remained outside the top 20.
In the Oil category for British Columbia, Mood Ring has shown a promising upward trend from August to November 2023, improving its rank from 11th to 6th place. This indicates a steady increase in sales, outpacing some of its competitors. For instance, Glacial Gold and Pure Sunfarms have seen a decline in their rankings over the same period. Interestingly, LoFi Cannabis despite maintaining a higher rank than Mood Ring, has seen a drop in rank from 4th to 5th place in November. On the other hand, NightNight has consistently ranked higher than Mood Ring, but the gap is closing. It's worth noting that any missing rank indicates the brand was not in the top 20 for that month.
In November 2023, Mood Ring's top-performing product was the 'Runtz Muffin (3.5g)', retaining its position from the previous month with sales of 1518 units. Following closely was the 'CBD/THC 15:15 Balanced Oil (30ml)', moving up one rank from October to take the second spot. The 'High CBD Capsules 30-Pack (900mg CBD)' also showed a steady improvement, climbing from the fifth position in September to the third in November. However, the 'High THC Capsules 30-Pack (300mg)' experienced a drop from second to fourth place over the same period. Finally, the 'Alien Starfighter Pre-Roll 3-Pack (1.5g)' entered the top five in November, marking its first appearance in the rankings.