Market Insights Snapshot
In the Topical category, Stewart Farms has maintained a consistent presence across multiple provinces. In Alberta, the brand has held steady in the top five, though slipping slightly from 4th to 5th place between July and October 2023. This slight dip in ranking is mirrored in the decreasing sales trend over the same period. In contrast, Stewart Farms has seen a positive shift in British Columbia, climbing from 3rd to 1st place from July to October 2023. This upward movement is also reflected in the brand's growing sales figures in this market.
In Ontario, Stewart Farms has remained a consistent player in the Topical category, maintaining its position within the top five brands from July to October 2023. Despite a slight drop from 5th to 6th place in August, the brand rebounded to 4th place by September, a position it maintained in October. Sales have remained relatively stable, with a notable increase in October 2023. Meanwhile, in Saskatchewan, Stewart Farms has made impressive strides, improving its ranking from 10th to 7th place over the course of the four months. This gradual climb in rankings is indicative of the brand's growing presence and increasing sales in this market.
In the Topical category within British Columbia, Stewart Farms has shown a promising upward trend, moving from the third rank in July 2023 to the top rank by October 2023. This progression indicates a positive growth trajectory, despite a brief dip to fourth place in August. Stewart Farms' main competitors, Proofly and Wildflower Canada, have shown more stability in their rankings, consistently maintaining the first and second ranks respectively until October, where they fell below Stewart Farms. Notably, while Proofly's sales have remained relatively stable, Wildflower Canada experienced a significant drop in sales in October, which may have contributed to Stewart Farms' rise to the top rank. This data suggests that Stewart Farms is a strong contender in the Topical category within British Columbia, with potential for further growth.
In October 2023, the top-selling product from Stewart Farms was the "CBD:THC 1:1 Multipack Bath Bomb 3-Pack", maintaining its rank as the #1 product for four consecutive months with a notable sales figure of 2,614 units in October. The "CBD/THC 1:1 Blue Dream Bath Bomb" consistently held the second position. However, the "Rebound - CBD SeaWeed OG Bath Salts" product made a significant jump from rank #5 to #3, surpassing the "CBD/THC 1:1 Chocolate Hashberry Bath Bomb" and "CBD/THC 1:1 Bubba Kush Bath Bomb", which fell to the 4th and 5th positions respectively. This shift indicates a growing consumer preference for the "Rebound - CBD SeaWeed OG Bath Salts" product. Overall, Stewart Farms' topicals category showed strong performance in October 2023.