Market Insights Snapshot
Looking at the data, Shred's performance varies across categories and states. In Alberta, Shred has maintained a steady position in the Concentrates, Edible, and Flower categories, with slight fluctuations in rank. However, in the Pre-Roll category, a significant jump from rank 8 to 3 was seen from July to August 2023, showing a positive trend. Interestingly, the Vapor Pens category seems to be a weak spot, as the brand is not within the top 20. In British Columbia, Shred maintains a strong position in the Edible and Pre-Roll categories, consistently ranking within the top 5. The brand struggles in the Flower category, with a rank consistently around 30, and the Vapor Pens category, where it is not in the top 20.
Moving to Ontario, Shred shows strong performance across all categories, with an impressive rank 1 in the Flower category in August 2023. However, the Pre-Roll category saw a drastic drop from rank 20 to 4 from July to August 2023, indicating a significant increase in popularity. The Vapor Pens category shows a downward trend, with the rank increasing from 34 to 45 over the period. In Saskatchewan, Shred holds a strong position in the Edible category, consistently ranking at 2. The Concentrates category shows a concerning downward trend, with the rank increasing from 22 to 36. The Pre-Roll category shows an impressive improvement, moving from a position outside the top 20 to rank 16 in October 2023.
In the Flower category in Ontario, Shred has shown a competitive performance against its rivals. In July 2023, Shred was the second highest ranked brand, only surpassed by Good Supply. However, in August 2023, Shred managed to climb to the top spot, outperforming both Good Supply and Spinach. Despite this victory, Shred's rank dropped to third place in September and October 2023, with Spinach taking the lead. Other notable competitors include Pure Sunfarms and The Original Fraser Valley Weed Co., which consistently ranked in the top five during this period. Although Shred's rank fluctuated, its sales direction remained relatively stable, suggesting a strong customer base and steady demand for its products.
In October 2023, the top-performing product from Shred was 'Shred'ems - CBD/THC 4:1 Wild Berry Blaze Gummy 4-Pack', with sales reaching 56,849 units. This product maintained its first place ranking from previous months. The second highest-selling product was 'Shred'ems - CBD/THC 2:1 Sour Blue Razzberry Gummies 4-Pack', with a slight dip in sales from previous months. 'Shred'em Pop! - Crazy Cream Soda Gummies 4-Pack' ranked third, also with a decrease in sales from September. Notably, 'Dartz - Gnarberry Pre-Roll 10-Pack' made its debut in the top four, selling 32,666 units.