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Mar-2024
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Overview
Market Insights Snapshot
In the topical category, RHO Phyto has shown a consistent performance across several provinces, with notable movements in rankings. In Alberta, the brand improved its position from 9th in December 2023 to 7th in February and March 2024, alongside a significant increase in sales from 3,868 in December 2023 to 7,496 in March 2024. This upward trend suggests a growing consumer preference for RHO Phyto's topical products in Alberta. Conversely, in British Columbia, the brand experienced a fluctuation in rankings, peaking at 13th in December 2023 but failing to make the top 30 by March 2024, indicating a potential decline in market presence or consumer interest in this province. Meanwhile, in Ontario, RHO Phyto maintained a steady 7th place in the topical category across the observed months, suggesting a stable market position amidst competitive dynamics.
Looking at the oil category exclusively in Ontario, RHO Phyto's performance indicates a struggle to climb the rankings, with positions ranging from 28th in December 2023 to 26th in March 2024. Despite a slight improvement in rankings, the brand's position near the bottom of the top 30 suggests challenges in gaining a significant market share within this category. However, it's worth noting that sales figures, such as an increase from 8,569 in December 2023 to 9,412 in February 2024, hint at a growing consumer base, potentially paving the way for future ranking improvements. The brand's performance in the topical category within Saskatchewan also deserves mention, where it ranked consistently within the top 6 from December 2023 to March 2024, despite a slight drop in sales in the latter months. This indicates a strong brand presence and consumer loyalty in the Saskatchewan market, contrasting with its challenges in British Columbia and competitive stability in Alberta and Ontario.
Competitive Landscape
In the competitive landscape of the topical cannabis category in Ontario, RHO Phyto has maintained a consistent position, ranking 7th across the months from December 2023 to March 2024. This stability in ranking, however, masks underlying fluctuations in sales, with a notable decline from December to January, followed by a gradual recovery in the subsequent months. Among its competitors, Solei has shown a slight dip in rank from 5th in January to 6th in March, despite having significantly higher sales than RHO Phyto throughout the period. LivRelief has outperformed both in terms of sales and rank improvement, moving from 6th in January to 5th in March. Conversely, Noon & Night has seen a decline, dropping from 5th in December to 9th by March, despite starting off with the highest sales figures among the mentioned brands. Wildflower has also seen a positive trajectory, improving its rank from 10th in December to 8th in March. These dynamics suggest a competitive market where brand positions can shift significantly over a short period, highlighting the importance for RHO Phyto to innovate and adapt to maintain and improve its market standing.
Notable Products
In Mar-2024, RHO Phyto's top-selling product was the CBD/THC 25:1 Deep Tissue Extra Strength Gel, maintaining its number one rank from previous months with sales figures reaching 844 units. Following closely, the THC:CBG Rapid Act Oral Spray held its position at rank two, experiencing an increase in sales to 276 units. Notably, the CBG Transdermal Relief Gel rose to the third position, marking a significant improvement from its consistent fourth-place standing, with an increase in sales to 43 units. The CBD Rapid Act 10:20 Oil Spray, previously ranked third, dropped to the fourth position due to a decline in sales. Lastly, the CBD:THC 10:1 Daily Dose Gummies made a new entry into the top five, illustrating the dynamic shifts in consumer preferences within RHO Phyto's product lineup.
Top Selling Cannabis Brands
