Market Insights Snapshot
Looking at the performance of the cannabis brand Tidal across various categories and states, some interesting trends emerge. In the Alberta market, Tidal's edible category showed a steady increase in ranking from July to October 2023, moving from an unranked position to 55th place. This indicates that the brand's presence in this category is growing in the region. However, in the topical category, there was a slight fluctuation in its position, ranging between 19th and 24th place over the same period. This suggests a relatively stable performance, with room for improvement.
In contrast, Tidal showed a more dynamic performance in the Nevada and Ontario markets. In Nevada, Tidal's concentrates category made significant strides, moving from 25th place in July to 14th place in October 2023. This implies a positive upward trend in this market. In Ontario, Tidal's performance in the edibles category remained fairly stable, hovering around the 70th spot, while the topical category saw a slight increase in ranking. Notably, in the Saskatchewan market, Tidal's topical category was not ranked in August 2023, indicating a need for the brand to enhance its presence in this region.
In the Concentrates category within Nevada, Tidal has shown a significant upward trend in rank, moving from not being in the top 20 in July 2023 to the 14th position by October 2023. This suggests a steady increase in sales and market share. However, Tidal's competitors have also shown varying degrees of growth. Cannavative has remained fairly stable in the rankings, fluctuating between the 11th and 13th positions. Roar has also maintained a stable rank, staying within the 15th and 16th positions. CAMP (NV) has shown a dramatic rise, going from not being in the top 20 in July to the 13th position by October. Lastly, Grassroots has experienced a slight decline, dropping from the 11th to the 16th position. This data suggests a highly competitive market with Tidal making significant strides.
In October 2023, Tidal's top-performing product was 'Crostata Cured Resin Honeycomb (1g)', a concentrate, which sold 363 units. The second-best seller was 'Otter Popz Live Resin Sugar (1g)', also a concentrate, maintaining its third rank from August and September. The third spot was taken by 'Rainbow Sherbet #11 Live Resin Sugar (1g)', which improved its rank from fifth in July. 'Crunch Berries Honeycomb (1g)' and 'Gastro Pop Honeycomb (0.5g)', both concentrates, were new entrants in the top-performing list, ranking third and fourth respectively. This analysis suggests a growing preference for concentrate products in Tidal's sales.