Market Insights Snapshot
Let's start with Vacay's performance in the Beverage category. In Alberta, Vacay saw a significant upward trend, moving from rank 19 in July to rank 12 by October, showing consistent improvement in its category ranking. This upward movement was mirrored by a steady increase in sales over the same period. However, in Ontario, while the brand also improved its ranking from 17 in July to 11 in September, it slipped back to 12 in October. Despite this slight dip, the sales trend remained generally positive.
Turning to the Edibles category, Vacay's performance was a bit of a mixed bag. In British Columbia, the brand maintained a steady rank of 14 from July to October, with a slight increase in sales. However, in Saskatchewan and Alberta, Vacay didn't make it into the top 20 brands, indicating room for improvement in these markets. Despite a fluctuating ranking in Ontario, sales in the Edibles category showed a downward trend from July to October.
In the Ontario Beverage category, Vacay has demonstrated a steady rise in rank from 17th in July 2023 to 12th in October 2023, indicating a positive trend in market positioning. However, it's worth noting that Vacay's competitors have shown varying degrees of performance. Solei has made a remarkable leap from not being in the top 20 in July to 13th place in October, suggesting a significant increase in sales. RIFF has also improved its rank, but its position dropped slightly from 9th in September to 10th in October, hinting at a potential decrease in sales. Meanwhile, CANN Social Tonics has remained stable at 14th place, but this stagnation could imply a lack of growth. Lastly, TeaPot has climbed from 18th to 11th place, just above Vacay, indicating a close competition between the two brands. These insights can help inform strategic decisions for Vacay in the competitive Ontario Beverage market.
In October 2023, Vacay's top-performing product was the Peanut Butter Chocolate Cup (10mg) from the Edible category, maintaining its number one rank from previous months with sales reaching 12,085 units. The second-highest performing product was the CBD:THC 3:1 Strawberry Pineapple Tropical Soda (7.5mg CBD, 2.5mg THC, 355ml) from the Beverage category, also holding its rank from the previous months with a total of 5,572 units sold. The Sparkling Pink Lemonade (10mg THC, 355ml) climbed the ranks to secure the third spot with 3,922 units sold. The CBD:THC 1:1 Island Punch Soda (10mg CBD, 10mg THC) entered the top four, and the CBD:THC 3:1 Pineapple Coconut Tropical Soda (7.5mg CBD, 2.5mg THC, 355ml) rounded out the top five. Overall, there was consistency in the top-performing products, with minor shifts in the lower ranks.