Market Insights Snapshot
In the Beverage category, Summit has seen varied performance across different states. In Alberta, the brand's ranking improved from 12th in August to 6th in October, indicating a positive trend. However, in British Columbia, its ranking remained steady at 9th from September to October, despite a decrease in sales. In Ontario, Summit appears to be struggling with a drop in ranking from 26th in August to 34th in October. In Saskatchewan, the brand did not make it to the top 20 in the Beverage category after July, which might be a cause for concern.
Looking at the Edibles category, Summit's performance has shown some significant improvement in Alberta, moving from a ranking of 62 in August to 24 in October. However, in British Columbia, the brand was not in the top 20 in August and only managed to move up to 35th in October. In Ontario, there was a slight improvement, moving from 68th position in July to 53rd in October. In the Concentrates category, the brand has seen a consistent ranking in the top 40 in Colorado and Michigan, but with a slight downward trend in Michigan. In the Flower category, Summit's performance in Michigan has been less than stellar, with the brand not appearing in the top 20 in July and dropping from 59th in August to 95th in October.
In the Flower category for Michigan, Summit has seen a fluctuating performance over the months of July to October 2023. In July, Summit was not in the top 20 brands, indicating a lower market presence. However, in August, Summit made a significant leap into the top 60, only to fall back down in the rankings in September and October. This is in contrast to competitors like Garcia Hand Picked and Distro 10 who have consistently ranked in the top 100, with Distro 10 even breaking into the top 60 in October. Another competitor, Simpler Daze, has shown a similar pattern to Summit, with a peak in September followed by a drop in October. In terms of sales, while exact numbers are not disclosed, it is clear that Summit's sales have been lower compared to these competitors, with a downward trend observed from August to October.
In October 2023, Summit's top-performing product was the Peach Lemonade Iced Tea, retaining its position from the previous month with sales of 6977 units. Following closely behind was the Lemonade Iced Tea, which dropped to second place from its previous top rank in August 2023. The Ice Cream Cake flower product, which was not in the top 5 in July, steadily improved its rank over the last three months, securing the third position in October. Tropicana Banana, absent in the rankings for August and September, made a comeback in October, securing the fourth position. Lastly, a new entrant, Snozzberry, made it to the top five in October.