Market Insights Snapshot
The cannabis brand Transit has shown varied performance across different states and categories. In the Topical category, Transit has shown an impressive rise in Alberta, moving from a non-ranking position in July 2023 to a solid 16th place by September 2023. This upward movement indicates a growing consumer preference for the brand in this region. However, the brand did not rank in the top 20 in October, which may suggest a potential decline or increased competition.
On the other hand, Transit's performance in British Columbia and Saskatchewan has seen some fluctuations. In British Columbia, the brand maintained a steady 6th place ranking in July and August 2023, but slipped to 13th and 12th in September and October respectively. In Saskatchewan, Transit's ranking dropped from 8th to 10th between July and August, and further to 14th in September. The brand did not rank in the top 20 in October, indicating a need for strategic adjustments in these markets. In Ontario, Transit's ranking has been outside the top 20, hovering between 21st and 30th place, suggesting room for growth in this market.
In the Topical category within British Columbia, Transit has experienced some fluctuations in rank and sales over the recent months. In July and August 2023, Transit maintained a steady 6th place rank, but saw a significant drop to 13th and 12th place in September and October respectively. This drop in rank coincides with a notable decrease in sales. Among Transit's competitors, Emprise Canada and feelgood have shown consistent performance, with feelgood slightly outperforming Emprise Canada in sales. RHO Phyto has maintained a higher rank than Transit in the same period, indicating stronger sales. Lemon and Grass, however, entered the top 20 brands only in September and October, but has shown promising sales growth. These trends suggest a competitive market with opportunities for Transit to reclaim its earlier position.
In October 2023, Transit's top-performing product was the CBD:THC High Potency Alleviating Massage Oil (300mg THC, 400mg CBD, 60ml), which falls under the Topical category. This product has consistently held the number one rank since July 2023. Notably, this product achieved a sales figure of 35 units in October. However, it is worth mentioning that there has been a steady decline in sales over the past four months. Despite this, the product has managed to maintain its top position, indicating its popularity among Transit's customers.