Market Insights Snapshot
Looking at the performance of the cannabis brand Nowadays, we can observe an interesting trend in the Edibles category across various provinces. In Alberta, Nowadays maintained a steady presence in the top 20 brands from July to October 2023, with its rank hovering around the 9th to 12th positions. However, the absence of ranking numbers for the brand in Ontario before August indicates that it was not in the top 20 brands in the Edibles category in that province during July. This could suggest a possible growth in brand popularity or increased market penetration in Ontario over the subsequent months.
Contrastingly, in British Columbia, the brand's ranking slipped from 14th in July to 24th in October 2023. This indicates a decline in its popularity in the Edibles category in British Columbia over this period. The brand's sales figures also seem to reflect this trend, with a noticeable decrease from July to October. On a more positive note, in Ontario, the brand's ranking improved significantly from 43rd in July to 24th in October, suggesting a positive upward trend in this market. This could be an area of focus for Nowadays, given the potential for growth and expansion in Ontario's Edibles category.
In the edible cannabis market in Alberta, Nowadays has maintained a consistent presence in the top 20 brands, fluctuating between the 9th and 12th ranks over the period from July to October 2023. This suggests a steady demand for their products, although they have faced stiff competition from other brands. San Rafael '71 has consistently ranked higher, although their rank has also varied slightly. Meanwhile, Chowie Wowie has shown a more positive trend, climbing from the 13th rank in July to the 10th in August, and maintaining this position through to October. Legend Cannabis has also shown an upward trend, moving from the 18th rank in July to the 14th in October. Interestingly, Bernard's Cannabis Creations has fluctuated more dramatically, dropping from the 15th rank in July to the 19th in September, before jumping to the 13th rank in October. These shifts in rank, along with the absence of sales data, suggest a highly competitive market with frequent changes in consumer preferences.
In October 2023, Nowadays' top-performing product was the 'CBD Tropical Mix Gummies 30-Pack (600mg CBD)' from the Edible category, maintaining its number one rank from previous months. It achieved impressive sales figures, specifically 3,238 units sold in October alone. The 'CBD Berry Mix Gummies 30-Pack (600mg CBD)', also from the Edible category, secured the second spot, mirroring its performance in earlier months. Notably, the 'CBD Stash Milled (3.5g)' from the Flower category, which held the third rank in previous months, did not appear in the top rankings for October. This suggests a shift in consumer preferences or possible stock issues for this product.