Market Insights Snapshot
Pharm, a cannabis brand known for its capsules, has seen varied performance across different provinces. In Ontario, the brand managed to break into the top 30 in August 2023, ranking at 29th. However, it's worth noting that they were not featured in the top 20 in July or in the subsequent months of September and October. This could imply a degree of volatility in their market position within this province. Despite this, they managed to generate sales of 233 units in August, indicating some level of consumer interest.
Contrastingly, in Saskatchewan, Pharm has shown a more consistent performance. The brand was not in the top 20 in July or August, but it made a significant leap in September, securing the 15th spot. This upward trend continued into October, where they improved their ranking to 13th. The sales data for these months reflect this positive trajectory, with sales jumping from 157 units in September to a whopping 1570 units in October. This demonstrates a promising growth trend for Pharm within the Saskatchewan market.
In the Capsules category within Saskatchewan, Pharm has shown a steady improvement in its ranking, moving from not being in the top 20 in July and August to 15th place in September and 13th place in October. This suggests a positive trend in sales, even though they still lag behind some competitors. For instance, Emprise Canada and Impromptu both had higher rankings in July and August, but experienced a drop in the following months. Emprise Canada, despite a dip to 11th place in October, still outperforms Pharm. Meanwhile, Briight and Kinloch Wellness have shown a more fluctuating performance, with Briight peaking at 8th place in September before dropping to 14th in October, and Kinloch Wellness maintaining a more stable, but lower, rank throughout the period. These trends indicate a competitive market with opportunities for Pharm to continue its upward trajectory.
In October 2023, the top-performing product for Pharm was the CBD Sea Buckthorn Capsules 30-Pack (300mg CBD) from the Capsules category. This product maintained its first-place ranking from August and September, demonstrating consistent popularity among consumers. Notably, sales for this product significantly increased in October, reaching a total of 48 units sold, compared to 5 and 7 units sold in September and August, respectively. This surge in sales suggests a growing demand for this product in the market. It's worth noting that this product has consistently outperformed others in its category, indicating its strong market position.