Mood Ring

Data Snapshot: May 05, 2024
Mood Ring Cannabis Brand Logo
$100K+

Apr-2024

Sales

Decline

Trend

6-Month

29

Product Count

SKUs

Mood Ring

Overview

"Mood Ring" is a Canadian cannabis brand that melds science and product quality, aiming to redefine perceptions of cannabis use through its uniquely formulated products. Under the guidance of Dr. Spark, the brand guarantees premium cannabis experiences tailored to individual users by delivering high-quality CBD oil and capsules made with organic extra virgin olive oil. Despite some business restructuring plans, the company's commitment to their product quality has consistently garnered positive consumer response.
Markets

Mood Ring Locations

Product Trends

Mood Ring Categories

Mood Ring Sales

Market Insights Snapshot

Mood Ring Historical Sales by Category

In the competitive cannabis market, Mood Ring has shown a varied performance across categories and provinces, with notable movements that indicate both strengths and areas for improvement. In Alberta, Mood Ring's presence was strong in the Capsules category, maintaining a top 15 position from January to March 2024, though it experienced a slight decline, moving from 9th to 12th. This drop, coupled with an absence in April's rankings, suggests a potential challenge in maintaining its market share. Conversely, their entry into the Oil category in February at 15th position, despite lacking a January rank, hints at an expanding market presence, though without subsequent rank data, the trajectory in this category remains unclear. In British Columbia, Mood Ring demonstrated a strong start in the Oil category, securing a 7th position in January and showing resilience by only slightly falling to 11th by March. However, their foray into the Flower category in February at a distant 96th rank indicates a struggle to gain a foothold in this highly competitive segment.

Looking at Ontario, Mood Ring's performance in the Capsules category is noteworthy for its consistency, maintaining a 10th position from January through April 2024. This steadiness in a major market like Ontario is a positive indicator of the brand's strong consumer base and effective market strategies within the category. However, the Oil category tells a different story, where Mood Ring only entered the rankings in February at 24th and made marginal improvements to 23rd by April. This slow climb reflects a challenging environment but also suggests a potential for growth if trends continue upward. Across the board, Mood Ring's sales in January 2024 for the Capsules category in Alberta were reported at 25,269 units, providing a glimpse into their market penetration at the start of the year. The absence of Mood Ring in top rankings for certain months and categories across provinces underscores the competitive nature of the cannabis industry and highlights the brand's ongoing efforts to adapt and grow in various market segments.

Apr-2024 Rank
Capsules
Oil
Flower
10
23
Mood Ring

Competitive Landscape

In the competitive landscape of the capsule category in Ontario, Mood Ring has maintained a consistent position, ranking 10th from January to April 2024. This stability in ranking, however, masks a slight decline in sales over the same period, indicating potential challenges in either market demand or competitive pressures. Notably, C Minor has shown significant growth, moving up in rank from 9th in January to 8th by April, alongside a notable increase in sales. This upward trajectory for C Minor suggests a growing preference among consumers that could be attributed to either product differentiation or marketing effectiveness. On the other hand, Stigma Grow has experienced a slight decrease in rank but remains a strong competitor, holding the 9th position from February to April. In contrast, Pennies and Frank have shown fluctuating ranks and sales but remain closely competitive with Mood Ring. This analysis underscores the importance of strategic positioning and innovation for Mood Ring to enhance its market share and consumer appeal in a tightly contested category.

Mood Ring market ranking for ON Capsules

Mood Ring

Notable Products

In Apr-2024, Mood Ring's top-performing product was High THC Capsules 30-Pack (300mg) from the Capsules category, maintaining its number one rank since January with sales reaching 1246 units. Following closely, High THC Oil (30ml) in the Oil category secured the second position consistently throughout the four months, although its sales dipped to 663 units in April. The Alien Starfighter Pre-Roll 3-Pack (1.5g) from the Pre-Roll category made a notable jump into the top ranks, ascending to the third position in April from its initial fourth rank in March. The High CBD Oil (30ml) also saw a significant entrance, ranking fourth in April without previous sales data. Meanwhile, the High CBD Capsules 30-Pack (900mg CBD) experienced a slight decline, moving from the third to the fifth rank by April, showcasing a dynamic shift in consumer preferences within Mood Ring's product lineup.

Product Rank
Category
Jan-2024
Feb-2024
Mar-2024
Apr-2024
High THC Capsules 30-Pack (300mg)
Capsules
1
1
1
1
High THC Oil (30ml)
Oil
2
2
2
2
Alien Starfighter Pre-Roll 3-Pack (1.5g)
Pre-Roll
>5
>5
4
3
High CBD Oil (30ml)
Oil
>5
>5
>5
4
High CBD Capsules 30-Pack (900mg CBD)
Capsules
3
3
3
5
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