Market Insights Snapshot
Starting with the Flower category, Alberta shows a consistent rise in Soar's ranking from July to October 2023, moving up from 67th to 40th place. This upward trend is also reflected in the sales figures, with an impressive increase from 71,770 to 146,627 units sold. In contrast, Ontario presents a more stable picture, with the ranking fluctuating slightly around the 30th position. However, despite this stability, the sales show a slight decline from 589,221 to 547,678 units. British Columbia stands out with Soar ranking consistently within the top 25 brands, peaking at 14th place in October.
Turning to the Pre-Roll category, Soar's performance in Alberta shows a similar upward trend to the Flower category, improving from 70th to 56th place over the four-month period. Again, this improvement is mirrored in the sales, which nearly doubled from 55,058 to 95,240 units. In Ontario, Soar struggled to break into the top 70, but sales did see a moderate increase. British Columbia presents an interesting case with a significant jump in ranking from 60th to 27th place, accompanied by a substantial increase in sales. Finally, it's worth noting that Soar only broke into the top 20 in the Vapor Pens category in British Columbia in October, ranking 65th.
In the Flower category within Ontario, Soar has been facing stiff competition from several brands. While Soar's rank improved from 31st in July 2023 to 27th in August 2023, it slipped back to 31st in September and further to 32nd in October 2023. This indicates a struggle to maintain a consistent position in the top 30 brands. In comparison, Weed Me has consistently ranked higher, although it has also been experiencing a downward trend. Potluck, on the other hand, has managed to maintain a more stable rank, staying within the top 30 throughout the period. The Green Organic Dutchman and Divvy have been trailing behind Soar in terms of rank, but their sales have been relatively close, indicating a tight competition. The overall trend suggests a highly competitive market with frequent changes in rankings and sales.
In October 2023, Soar's top-performing product was the Pineapple God Pre-Roll (1g) with sales peaking at 23,575 units. This product maintained its top position from previous months. The second best-selling product was Pineapple God (7g), also consistent in its ranking. A notable shift in rankings was seen with the Electric Grapefruit (7g), which climbed from 5th place in July to 3rd place by October. Two new entrants in the top 5 were the Tropic Crush Infused Blunt (1g) and Citrus Cyclone Infused Blunt (1g), ranking 4th and 5th respectively.