Market Insights Snapshot
In the Alberta market, Virtue Cannabis has shown some interesting movements across different categories. In the Edible category, the brand was not in the top 20 in August 2023, but made an appearance in the subsequent months, with the rank fluctuating between 46 and 41. This indicates a growth in the brand's presence in this category, despite not being among the top performers. In the Flower category, Virtue Cannabis started strong in August 2023 at rank 25, but saw a significant drop to rank 41 in October, before slightly improving to rank 37 in November. This suggests a downward trend in this category. However, the brand's performance in the Pre-Roll category presents a more positive picture, with a consistent improvement from rank 49 in August to rank 15 in November.
Meanwhile, Virtue Cannabis's performance in the British Columbia market tells a different story. In the Flower category, the brand's ranking has been consistently outside the top 20, ranging from rank 71 in August to rank 90 in November. Furthermore, the brand was not in the top 20 in October, indicating a potential decrease in its market presence during this period. These movements suggest that Virtue Cannabis may be facing more competition in the Flower category in British Columbia compared to Alberta. While this analysis provides a snapshot of Virtue Cannabis's performance across categories and states, it's important to delve deeper into the factors driving these trends for a more comprehensive understanding.
In the Pre-Roll category in Alberta, Virtue Cannabis has shown a significant upward trend, moving from not being in the top 20 in August 2023 to the 15th position by November 2023. This indicates a strong growth trajectory, outperforming some of its competitors. For instance, Sticky Greens has seen a slight drop in rank, despite maintaining higher sales. Lamplighter also experienced a drop in rank from October to November, indicating a potential decline. PIFF has shown a similar upward trend as Virtue Cannabis, but with a higher rank in November. Tasty's (CAN), on the other hand, was not in the top 20 in August and September, but by November, it had a slightly higher rank than Virtue Cannabis. These shifts in rank, despite the absence of raw sales numbers, suggest a dynamic competitive landscape for Virtue Cannabis in the Pre-Roll category in Alberta.
In November 2023, the top-performing product from Virtue Cannabis was the 'Liger Blood Infused Pre-Roll 5-Pack (2.5g)', maintaining its top position from October, with sales reaching 4446 units. The 'Watermelon Mjto Ice Infused Pre-Roll 5-Pack (2.5g)' held the second position, improving from its third rank in October, and registered sales of 2584 units. The 'Liger Blood Infused Blunt (1g)' dropped to third place from its second position in October. The 'Watermelon Mjto Ice Infused Blunt (1g)' maintained its fourth rank, while 'Galactic Glue (14g)' entered the top five, ranking fifth. This analysis shows a consistent demand for pre-roll products, despite some shifts in the rankings.