.svg){kind=small}
Mar-2024
Sales
Trend
6-Month
Product Count
SKUs
Overview
Market Insights Snapshot
In the competitive cannabis market, RIFF's performance across different categories and states/provinces shows a varied trajectory. Notably, in the Alberta market, RIFF's Beverage category saw a consistent climb from a rank of 13 in December 2023 to 9 in February 2024, before slightly dipping to 11 in March 2024. This fluctuation, despite a dip in March, indicates a strong consumer interest in RIFF's beverage offerings within Alberta. Conversely, their performance in the Flower category within the same province shows a struggle to maintain a stable position, with rankings fluctuating significantly and sales decreasing from December 2023 to February 2024, before seeing a slight recovery in March 2024. The absence of RIFF in the top 30 brands for the Pre-Roll category after December 2023 is a point of concern, suggesting a potential area for strategic focus.
On the other hand, RIFF's performance in the Ontario and Saskatchewan markets tells a story of both opportunity and challenge. In Ontario, RIFF's Beverage category remains strong, consistently ranking in the top 10 from December 2023 to March 2024, with a notable increase in sales in March 2024. This indicates a solid foothold in Ontario's beverage market. However, the brand's rankings in the Flower and Vapor Pens categories in Ontario show a need for improvement, with rankings often falling outside the top 80. Saskatchewan presents a bright spot with RIFF's Beverage category ranking impressively within the top 3 from December 2023 to February 2024, though it experienced a slight drop to 3rd place in March 2024. The Flower and Vapor Pens categories in Saskatchewan, however, reflect a struggle to capture significant market share, with rankings dropping to the lower end of the spectrum by March 2024. These insights into RIFF's performance across different regions and categories highlight areas of strength and potential growth opportunities.
Competitive Landscape
In the competitive landscape of the cannabis beverage category in Ontario, RIFF has shown a consistent performance, maintaining its position in the top 10 across the observed months. However, a slight dip in rank from 9th to 10th between February and March 2024 indicates a fiercely competitive market. Notably, Tweed has seen a significant improvement, climbing from 15th in December 2023 to 9th in March 2024, surpassing RIFF by one rank in the latest month. This shift suggests Tweed's growing market presence and potential threat to RIFF's position. Meanwhile, Vacay and Bubble Kush have experienced fluctuations in their rankings, with Bubble Kush notably dropping to 15th in February before rebounding to 8th in March, indicating a volatile market dynamic. The entry of Mary Jones in March 2024 directly into the 11th position underscores the competitive pressure from new entrants. These movements highlight the challenges RIFF faces in maintaining its market share amidst shifting consumer preferences and the aggressive strategies of its competitors.
Notable Products
In March 2024, RIFF saw "Blue Raspberry Ice Beverage (10mg THC, 355ml)" maintain its top position in sales with 9,807 units sold, continuing its streak from previous months. Following closely, "Wild Raspberry Lemonade (10mg THC, 355ml)" secured the second spot, demonstrating consistent performance as well. The "Boost- THC:CBG 1:1 Vanilla Frost Carbonated Drink (10mg THC, 10mg CBG)" climbed to third place, marking a notable rise from its previous fifth and fourth positions in earlier months. Its counterpart, "Boost- THC:CBG 1:1 Tropical Burst Carbonated Drink (10mg THC, 10mg CBG 355ml)," also showed upward movement, landing in fourth after previously ranking lower. Lastly, the "Subway Scientist Pre-Roll (1g)" rounded out the top five, indicating a preference shift among consumers towards beverage products over pre-rolls in RIFF's lineup.
Top Selling Cannabis Brands
