Market Insights Snapshot
Starting with the Flower category, Potluck has seen a notable fluctuation across different states. In Alberta, the brand has unfortunately seen a consistent drop in ranking from 35th to 54th over the span of four months, indicating a decrease in popularity. However, in British Columbia, Potluck has shown a commendable rise in ranking, moving from 18th to 13th place. The situation in Ontario is a bit mixed, with a slight decline from 22nd to 27th rank. In Saskatchewan, the brand did not make it to the top 20, which is a point of concern.
Turning our attention to the Vapor Pens category, Potluck has shown a fairly stable performance in Alberta, maintaining a rank within the top 20. The brand's performance in Ontario mirrors this, with a slight increase from 16th to 20th place. However, in Saskatchewan, the brand has seen a significant drop from 40th to 56th place. The Pre-Roll category, on the other hand, has seen varied results with Alberta not making the top 20 and British Columbia experiencing a drop in ranking, which indicates room for improvement in this category.
In the competitive landscape of the Flower category in Ontario, Potluck has been facing stiff competition from brands like Weed Me, Nugz, Soar, and Holy Mountain. Over the period from July to October 2023, Potluck's rank has slightly declined, indicating a drop in its market position. Interestingly, while Weed Me and Holy Mountain have seen a more significant drop in their rankings, Nugz has been on an upward trajectory, climbing from a rank of 49 in July to 26 in October. Soar's ranking has remained relatively stable, with a slight dip in September. In terms of sales, Potluck has seen a gradual decrease over the period, similar to Weed Me and Holy Mountain. However, Nugz has bucked the trend with increasing sales, while Soar's sales have remained fairly steady. This data suggests that while Potluck is facing increasing competition, particularly from rising brands like Nugz, it still maintains a strong presence in the market.
In October 2023, Potluck's top-performing product was 'Pineapple Express (7g)' from the Flower category, maintaining its first position from previous months with a sales figure of 6507 units. The 'Orange Layer Cake (7g)', also from the Flower category, showed a significant improvement, moving up to the second position from fourth in September 2023. The 'CBG Tangerine Sunrise Terpenes Disposable (1g)' from the Vapor Pens category also held its ground, ranking third. The 'Frosted Cherry (7g)' dropped one place to the fourth position, while 'Banana Cream (7g)' saw a slight dip in sales, moving from second to fifth place. The rankings indicate a strong preference for Flower category products, with Vapor Pens also showing consistent performance.