Market Insights Snapshot
Veryvell, a renowned cannabis brand, has shown mixed performance across different states and categories. In the oil category, the brand has been consistently in the top 30 across Alberta, British Columbia, Ontario, and Saskatchewan from August to November 2023. However, the brand's ranking fluctuated during this period. Notably, in Ontario, Veryvell's ranking dropped from 33rd in October to 47th in November, indicating that it was not in the top 20 brands in that state and category for that month, which may be an area of concern.
On a more positive note, in Saskatchewan, Veryvell demonstrated a steady performance, maintaining its ranking within the top 20 from August through November 2023. This is a promising sign of the brand's stability in this market. However, it's worth noting that sales figures varied across the states. For instance, in British Columbia, sales spiked from 222 units in September to 664 units in October, showing a significant upward trend. These insights can provide a valuable understanding of the brand's performance and potential areas for growth. Further detailed analysis could reveal more nuanced trends and opportunities.
In the Saskatchewan oil category, Glacial Gold has shown a downward trend in rank from 15th to 20th over the period from August to November 2023, indicating a potential decrease in market share. Peace Naturals, on the other hand, has improved its rank from 20th to 17th, suggesting an increase in popularity. Veryvell has maintained a steady rank around the 18th position, indicating stable market performance. Verse has shown a significant drop in rank from 10th to 16th, while Royal Co has not been in the top 20 brands for the specified period, suggesting a lower market presence. These trends provide a competitive landscape for Veryvell, highlighting the need for strategic marketing and product development to improve its rank and sales.
In November 2023, the top-performing product from Veryvell was the Yawn THC Drops (27ml) in the Oil category, maintaining its first position from previous months with a significant sales figure of 95. The CBD/THC 15:1 Exhale Drops (27ml), also in the Oil category, held steady in second place. Notably, the CBD/THC 1:1 Honey Green Iced Tea (2.5mg CBD/2.5mg THC, 355ml) from the Beverage category moved up to third place, bouncing back from not being ranked in October. The CBD:THC 1:1 Lemon Black Iced Tea Sparkling Beverage (2.5mg CBD, 2.5mg THC 355ml) maintained its position in the fourth place. However, the CBD Strawberry Hibiscus Sparkling Water (15mg CBD, 355ml) dropped to fifth place, having not been ranked in the two previous months.