Market Insights Snapshot
Versus has shown a mixed performance across the states and categories. In Alberta, the brand has performed exceptionally well in the Beverage and Flower categories, maintaining a steady rank in the top 20. The Flower category, in particular, has seen a consistent rise in rank from 25 in July to 14 in October. The brand's performance in the Pre-Roll category also improved, rising from rank 42 to 28. However, the rankings in the Concentrates, Edibles, and Vapor Pens categories have fluctuated, indicating a variable market response.
Turning to British Columbia, Versus has maintained a strong presence in the Beverage, Flower, and Pre-Roll categories, consistently staying in the top 25 brands. The Pre-Roll category, in particular, has shown a stable performance, maintaining a rank around 10. However, the Concentrates and Edibles categories have seen a decline in rank, indicating a need for improvement. In Ontario, the brand has performed well in the Beverage, Concentrates, Flower, and Vapor Pens categories, consistently ranking in the top 20. However, the Edible and Pre-Roll categories have seen a decline in rank, especially the Pre-Roll category which fell from rank 56 to 37. In Saskatchewan, the brand's performance has been inconsistent across all categories, with the Flower and Vapor Pens categories showing significant fluctuations in rank.
In the Ontario Flower category, Versus has maintained a steady position within the top 20 brands from July to October 2023, with ranks ranging from 12th to 14th. In comparison, Tweed has seen a decrease in rank, moving from 8th to 14th over the same period, indicating a potential decline in sales. Hiway, while not in the top 20 in July, has shown significant improvement, climbing to 15th by October. Tribal has remained fairly stable, fluctuating between 9th and 12th. The most notable rise is seen with SUPER TOAST, which was not in the top 20 in July but skyrocketed to 11th by October, suggesting a rapid increase in popularity and sales. These shifts in the competitive landscape could have various implications for Versus, including potential changes in market share and consumer preferences.
In October 2023, Versus saw its 'CBD/THC 1:1 Neon Rush Carbonated Soda' maintain its top position in sales, moving 35,508 units. Following closely behind was the 'Black Cherry Rapid Seltzer', holding its second place ranking with a slight decrease in sales from the previous month. The 'Key Lime Rapid Seltzer' rose to third place, showing an increase in sales. The 'BC God Bud Pre-Roll' dropped to fourth place after a brief absence in August and a fifth-place ranking in September. Lastly, the 'Neon Rush Cali Blast Soda' made a strong debut in the top five, selling 9,038 units in its first month.