Market Insights Snapshot
Examining Tantalus Labs' performance across different states, it's evident that they are experiencing varied success. In Alberta, the brand's ranking for Flower and Pre-Roll categories has been slipping from July to October 2023. Their Flower category, in particular, saw a drop from rank 40 in July to rank 60 in October. A similar trend is observed in their Pre-Roll category, dropping from rank 10 to 36 within the same period. However, in Saskatchewan, Tantalus Labs has maintained a steady rank in the Flower category, consistently remaining within the top 20 brands. Interestingly, their Pre-Roll category has seen an impressive performance, consistently ranking within the top 5 from July to September 2023, though there was a significant drop to rank 11 in October.
On the other hand, Tantalus Labs' performance in British Columbia and Ontario has been less consistent. In British Columbia, the brand's ranking in the Flower and Pre-Roll categories has fluctuated, but overall, there has been a downward trend from July to October 2023. In Ontario, the brand's Pre-Roll category has seen a steady decline in ranking, falling out of the top 20 by October 2023. This suggests that Tantalus Labs may need to reevaluate their strategies in these markets to improve their standing. In terms of sales, while specific figures are not disclosed, it is noteworthy to mention that there has been a general downward trend across all categories and states, with the exception of the Flower category in Saskatchewan, which has seen an increase in sales.
In the Flower category within Saskatchewan, Tantalus Labs has shown a steady improvement in its ranking, moving from 14th place in July 2023 to consistently holding the 10th spot in September and October 2023. This upward trend suggests a growing market presence and increased sales, outperforming several competitors. Notably, QWEST has fluctuated in rank, falling behind Tantalus Labs in October. Pure Sunfarms, despite a strong start in July, dropped significantly in August, only to recover slightly in the following months, but still ranking below Tantalus Labs. Twd. started strong but saw a significant drop in rank by September, indicating a potential decrease in market share. Interestingly, EastCann has shown a remarkable improvement, moving from 16th place to 8th, surpassing Tantalus Labs in October. These shifts in the competitive landscape indicate a dynamic market in the Flower category in Saskatchewan.
In October 2023, Tantalus Labs' top-performing product was the 'Pacific OG Pre-Roll 3-Pack (1.5g)', maintaining its number one rank from previous months with sales of 8,734 units. The 'More Cowbell Pre-Roll 3-Pack (1.5g)' climbed back up to second place after falling to third in September. A new entrant to the top three was the 'Pacific OG Max Infused Pre-Roll 3-Pack (1.5g)', which didn't rank in the top three in previous months. The 'Petrocan Pre-Roll 3-Pack (1.5g)', which held a steady third place in July and August and rose to second in September, dropped to fourth place in October. Rounding out the top five was the 'Sunset Sherbert (3.5g)' flower, a new addition to the ranking.