Market Insights Snapshot
Starting with Alberta, the Remidose brand has shown some movement in the oil category over the last few months. After not ranking in the top 20 brands in July 2023, Remidose managed to break into the list at the 25th position in August 2023. However, it dropped slightly to the 26th spot in September 2023. The absence of a ranking for October indicates that the brand did not make it to the top 20 for that month, suggesting a potential decline in its performance. While raw sales data is not fully disclosed, it's worth noting a decrease from 847 units in August to 465 units in September.
Over in Ontario, Remidose's performance in the oil category has been somewhat fluctuating. The brand was ranked 26th in July 2023, dropped to 33rd in August, and further down to 36th in September. Interestingly, Remidose managed to improve its position in October, climbing up to the 31st spot. This upward movement, despite not being within the top 20, is a positive sign. In terms of sales, there was a noticeable downward trend from July to September, but a slight recovery was observed in October with sales increasing to 3037 units from the previous month's 2145 units.
In the Ontario oil category, Remidose has seen a fluctuating performance, with its rank moving from 26th in July 2023 to 31st in October 2023. Notably, it has faced stiff competition from brands such as Veryvell, Apothecary Botanicals, Mood Ring, and LoFi Cannabis. Despite a dip in sales from July to September, Remidose saw a rebound in October, indicating a potential upward trend. Interestingly, Mood Ring was not in the top 20 brands in July, but it quickly climbed the ranks in the following months, suggesting a rapidly growing competitor. Meanwhile, LoFi Cannabis has consistently ranked higher than Remidose, but its sales have been on a downward trend. This competitive landscape suggests that while Remidose has faced challenges, there are opportunities for growth and improvement.
In October 2023, the top-performing product from Remidose was the Citrus Live Resin Drops Oil (30ml) from the Oil category, maintaining its number one rank from previous months. The second best-selling product was the newcomer Berry Sublingual Oral Spray (500mg) from the Tincture & Sublingual category. The Strawberry Sublingual Oral Spray (500mg) in the same category slipped from its second place in September to tie with the Berry variant in October. The Grape Sublingual Oral Spray (500mg) also from the Tincture & Sublingual category entered the rankings at third place. The Micro THC Distillate Inhaler (0.2g) from the Vapor Pens category, despite a sales figure of 73, dropped to fourth place from its previous third position.