Market Insights Snapshot
Phresh Cannabis Beverages has shown an interesting trend in the Ontario market. The brand has maintained a steady presence in the top 5 rankings from July to October 2023, oscillating between the 4th and 5th positions. This consistency in ranking indicates a solid market presence and consumer preference. However, it's worth noting a slight dip in sales from August to September 2023, before a modest recovery in October. The reasons behind this fluctuation could be many, and further analysis might reveal valuable insights.
Contrastingly, the brand's performance in the Saskatchewan market tells a different story. Phresh Cannabis Beverages has been struggling to maintain its position in the top 20 rankings. After securing the 19th rank in July 2023, the brand slipped out of the top 20 in August and has remained there through October. This downward trend is also mirrored in the sales numbers, which have seen a significant drop over the same period. This could indicate a need for the brand to reassess its strategies in this market to regain its former position.
In the Ontario Beverage category, Phresh Cannabis Beverages has seen a fluctuation in its rank from July to October 2023, moving from 4th to 5th and then back to 4th. This suggests a competitive market with close contenders. Notably, Collective Project has consistently held the 2nd position, indicating a strong presence. Versus also maintained a steady 3rd rank, while Sweet Justice has seen a similar fluctuation to Phresh, moving between 4th and 5th ranks. Interestingly, Bubble Kush has shown a significant upward trend, moving from 16th to 6th rank, indicating a potential future competitor for Phresh. While specific sales figures are not provided, the ranking changes suggest that Phresh's sales have been relatively stable compared to its competitors, which have seen more significant changes.
In October 2023, the top-performing product from Phresh Cannabis Beverages was the 'Strawberry Kiwi Sparking Water (10mg THC, 355ml)' with 11,702 units sold. This product has consistently held the number one spot in the rankings for the past four months. The 'Grape Sparkling Water (10mg THC, 355ml)' moved up one position from September to take the second spot in October with a significant increase in sales. The 'Summer Punch Sparkling water (10mg THC, 355ml)', which was previously in second place, dropped to third. The 'Blue Raspberry Sparking Water (10mg THC, 100ml)' and 'Mango Peach Sparking Water (10mg THC, 355ml)' maintained their previous month's rankings at fourth and fifth respectively.