Market Insights Snapshot
Beginning in the province of Alberta, RHO Phyto has maintained a steady presence in the Topical category, ranking 8th in July and August of 2023. However, there was a noticeable improvement in September, where the brand climbed to 6th place, before experiencing a slight dip in October to the 11th position. Sales trend for this period has been inconsistent, with a significant drop observed in October. In contrast, the brand's performance in British Columbia has been relatively stable, maintaining a consistent place within the top 10 brands across the same period.
Over in Ontario, RHO Phyto has had mixed results. In the Oil category, the brand struggled to maintain its ranking, falling from the 18th position in August to outside of the top 20 by October. This downward trend was mirrored in sales, which decreased over the same period. However, in the Topical category, the brand has shown more resilience, consistently ranking within the top 10 and even improving its rank to 6th place in October. Lastly, in Saskatchewan, RHO Phyto experienced a steady decline in the Topical category rankings, falling from 4th place in July to 13th place by October, a trend that was accompanied by a significant decrease in sales.
In the Topical category in Ontario, RHO Phyto has maintained a steady rank, hovering around the 7th position from July to October 2023. This consistency, however, has not translated into an upward trend in sales, as they have experienced a slight decrease over the given period. Notably, RHO Phyto's competitors have shown varying trends. Solei has consistently ranked higher, but their sales have been relatively flat. LivRelief, despite a high initial rank, has seen a significant drop in both rank and sales over the months. Stewart Farms has shown an impressive upward trend, improving in rank and boosting sales significantly, particularly in October. Lastly, Noon & Night has been trailing behind RHO Phyto in rank, but their sales have seen a slight increase. These competitive dynamics suggest that while RHO Phyto has maintained its position, there is room for growth and improvement, especially in light of the gains made by competitors like Stewart Farms.
In October 2023, the best-selling product from RHO Phyto was the CBD/THC 25:1 Deep Tissue Extra Strength Gel (250mg CBD, 10mg THC, 50ml), maintaining its top rank from previous months with sales reaching 977 units. Following this, the THC:CBG Rapid Act Oral Spray (15ml) ranked second, also keeping its position from July, August, and September, though sales declined to 261 units. The CBG Transdermal Relief Gel (500mg CBG, 30ml) secured the third position, rebounding from a dip to the fourth rank in August. The fourth rank was held by the CBD Rapid Act 10:20 Oil Spray (15ml), which has consistently maintained this position since July. These rankings show a stable preference among RHO Phyto customers, with the top four products remaining unchanged over the four-month period.