Market Insights Snapshot
In the Beverage category, Summit has shown a promising upward trend in Alberta, consistently improving its ranking from 18th in August to 11th by November 2023. This positive movement is mirrored in their sales, which have almost tripled over this period. However, in British Columbia, the brand has seen a slight decline in both ranking and sales, dropping from 11th to 14th position between August and November. The lack of ranking for Summit in the Beverage category for Saskatchewan until November indicates that they were not in the top 20 brands, suggesting room for improvement in this market.
Summit's performance in the Concentrates category is varied across states. In Colorado, Summit has moved up seven positions from 37th to 30th between August and November. However, in Michigan, the brand is ranked 99th, with no subsequent rankings indicating that they have not made it into the top 20 brands in this category for the rest of the period. In the Flower category, Summit's performance in Colorado has worsened over time, sliding from 45th to 79th place. In Michigan, Summit only ranks in September, suggesting inconsistent performance. The Vapor Pens category in Colorado shows a positive trend, with Summit improving its ranking from 72nd to 58th.
In the Concentrates category in Colorado, Summit has shown a steady improvement in its rank over the months of August to November 2023, moving from 37th to 30th place. This suggests a positive trend in sales and market presence, despite not breaking into the top 20 brands. In comparison, Spherex and Craft / Craft 710 have seen their ranks fluctuate and generally trend downwards during the same period. Kayak Cannabis, on the other hand, has consistently maintained a higher rank than Summit, although it has not seen significant changes in its rank over these months. TFC (The Flower Collective LTD) has shown a steady improvement in rank, similar to Summit, but remains lower in the ranking. This data indicates that while Summit is not currently a top competitor in the Colorado Concentrates market, it is showing promising growth and potential to rise in the ranks.
In November 2023, Summit's top-performing product was the Raspberry Lemonade Drink (10mg THC, 355ml) in the Beverage category, maintaining its number one rank from previous months with sales reaching 7574 units. The second best-selling item was Chem Dawg (Bulk) from the Flower category, which improved from its October rank of 5 to November's rank of 2. Tropic Diesel (Bulk), also from the Flower category, was the third best-selling product, although it dropped from its October rank of 3. New entries in the top five include Chiesel Sugar Wax (1g) from the Concentrates category and Mayflower Distillate Live Resin Cartridge (0.5g) from the Vapor Pens category, ranking fourth and fifth respectively. Overall, Summit's top products showed a mix of stable performance and significant rank changes during November 2023.