Market Insights Snapshot
Phyto Extractions, a prominent cannabis brand, has shown variable performance across different states and categories. In the Concentrates category, the brand's performance in Alberta has remained relatively stable, hovering around the mid-20s in terms of ranking. However, in the Vapor Pens category, the brand has seen a significant drop in the same state, moving from 34th to 44th place between July and October 2023. This decline is indicative of increased competition in the Vapor Pens category within Alberta.
Interestingly, Phyto Extractions' performance in the British Columbia market tells a different story. In the Concentrates category, the brand has been consistently improving, moving up from the 22nd position in July 2023 to the 19th position in October 2023. However, the brand's Vapor Pens category performance in British Columbia has been fluctuating, with a notable dip in October 2023. In Saskatchewan, the brand was not in the top 20 in either category in September 2023, suggesting a need for strategic improvements in this market.
In the Ontario concentrates market, Phyto Extractions has consistently ranked outside the top 20 brands from July to October 2023, indicating a need for strategic improvements to gain market share. Notably, Highly Dutch has maintained a steady presence in the top 20, even experiencing a rank increase in September, suggesting a stronger market performance. Shatterizer, while also consistently in the top 25, has seen a slight rank decline, indicating a potential opportunity for Phyto Extractions. Interestingly, DEBUNK has shown a similar trend to Phyto Extractions, but with a significant rank improvement in October. Lastly, Sheeesh! entered the top 30 in September after not being in the top 20 in July, demonstrating a rapid rise that Phyto Extractions could potentially emulate. Overall, while Phyto Extractions has room for growth, the dynamic nature of the Ontario concentrates market presents numerous opportunities for advancement.
In October 2023, the top-performing product from Phyto Extractions was the Dragon Fruit Distillate Cartridge (1g) from the Vapor Pens category, maintaining its number one ranking from previous months with sales of 1696 units. The second best-seller was the Phyre Shatter (1g) from the Concentrates category, bouncing back to the second spot after dropping to the fourth in August. Interestingly, the Blue Gorilla OG Shatter (1g), also from the Concentrates category, reappeared in the rankings at the third spot after not being ranked in the two previous months. The Arctic Berry Hash (2g), another Concentrate, improved its ranking from fifth in September to fourth. Lastly, the Pink Snowman Cured Resin (1g) made its debut in the rankings at the fifth spot.