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Jun-2024
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Overview
Market Insights Snapshot
RHO Phyto has shown varied performance across different categories and provinces, particularly in Ontario. In the Oil category, the brand's presence is notably absent from the top 30 rankings in the months of March through June 2024, suggesting a struggle to capture market share in this segment. This lack of visibility is a concerning sign, as it indicates that RHO Phyto is not competing effectively against other brands in the Oil category. On the other hand, their performance in the Topical category is more promising. RHO Phyto consistently ranked within the top 10, holding the 7th position in March and maintaining a steady presence through June, even experiencing a slight improvement in April when they climbed to the 6th position.
The steady rank in the Topical category is complemented by a positive sales trend. From March to June 2024, RHO Phyto's sales in the Topical category increased from $16,497 to $19,495, reflecting a growing consumer base and effective market strategies. This upward movement in sales, paired with consistent top 10 rankings, highlights the brand's strength in this specific category within Ontario. However, the absence from the top 30 in the Oil category suggests that RHO Phyto may need to reassess their approach or product offerings in that segment to improve their market position. Overall, while there are areas for improvement, particularly in the Oil category, the brand's performance in Topicals is a bright spot worth noting.
Competitive Landscape
In the Ontario Topical category, RHO Phyto has shown a consistent performance over recent months, maintaining a rank of 7.0 in March, May, and June 2024, with a slight improvement to 6.0 in April 2024. This stability suggests a steady demand for RHO Phyto products. However, competitors such as Solei and LivRelief have demonstrated stronger positions, with Solei consistently ranking 5.0 and LivRelief fluctuating between 5.0 and 7.0. Notably, Solei's sales figures are significantly higher, indicating a more robust market presence. Meanwhile, Wildflower and Noon & Night have shown less consistency, with Wildflower missing from the rankings in April and May, and Noon & Night not appearing in March. These insights highlight the competitive landscape RHO Phyto faces, emphasizing the need for strategic marketing efforts to improve its rank and sales in the Ontario Topical market.
Notable Products
In June 2024, RHO Phyto's top-performing product was the CBD/THC 25:1 Deep Tissue Extra Strength Gel (250mg CBD, 10mg THC, 50ml) in the Topical category, maintaining its first-place ranking for the fourth consecutive month with notable sales of 917 units. The THC:CBG Rapid Act Oral Spray (15ml) in the Oil category also held steady at the second position, though its sales have seen a decline to 152 units. The CBD:THC 10:1 Daily Dose Gummies 10-Pack (100mg CBD, 10mg THC) in the Edible category remained in third place, continuing its consistent performance. The CBG Transdermal Relief Gel (500mg CBG, 30ml) in the Topical category stayed in fourth place but experienced a significant drop in sales to 27 units. Lastly, the CBD Rapid Act 10:20 Oil Spray (15ml) in the Oil category kept its fifth-place ranking, showing a slight decrease in sales to 15 units.
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