Market Insights Snapshot
In Saskatchewan, the cannabis brand Tyche has shown a mixed performance in its category rankings over the recent months. In the Capsules category, Tyche moved from 17th place in July 2023 to 12th place in August 2023, an improvement that indicates a positive trend. However, the brand was not among the top 20 in September, suggesting a possible decline in its market position. It's worth noting that despite the fluctuating rankings, Tyche maintained a steady presence in the Capsules category, with sales peaking at 2,982 units in June 2023.
On the other hand, in the Oil category, Tyche's performance in Saskatchewan has been relatively stable, albeit with a slight downward trend. The brand consistently ranked among the top 20 from June to September 2023, peaking at 14th place in July and June, and dropping slightly to 16th place in August and 15th place in September. Despite the minor drop in rankings, Tyche's presence in the Oil category remains strong, with sales reaching as high as 7,771 units in June 2023. This suggests a sustained demand for Tyche's oil products within the province.
In the Oil category for Saskatchewan, Tyche has seen a slight decline in rank from June to September 2023, moving from 14th to 15th place. This is in contrast to brands like ufeelu and Frank, which have maintained a higher rank throughout the same period. Notably, Veryvell has shown a similar trend to Tyche, fluctuating in rank but remaining in the top 20. A new competitor, C Minor, has also emerged in September, ranking 17th despite not appearing in the top 20 in the previous months. In terms of sales, Tyche has seen a downward trend from June to September, which is a pattern shared by its competitors, suggesting a possible overall decrease in the Oil category market in Saskatchewan.
In September 2023, Tyche's top-performing product was the CBD 750 Oil Spray (15ml), which climbed from third place in August to first. Following closely behind was the CBD 4500 Oil (30ml), maintaining a strong performance despite dropping from first to second place. The CBD 250 Oil (25ml) also made a notable entrance into the top rankings, coming in fifth after not being ranked in previous months. In contrast, the CBD Softgels 15-Pack (750mg CBD), which had consistently held a high position, did not make it into the top rankings this month. Interestingly, the CBD 4500 Oil (30ml) achieved second place with a sales figure of 12 units, indicating a significant gap between the first and second top-performing products.