Market Insights Snapshot
WholeHemp's performance in the Capsules category in Ontario has shown a degree of consistency over the past few months. Despite a slight dip in ranking from 18th place in May to 20th in July, they have managed to climb back to 18th in August. This could be attributed to a significant increase in sales from July's $2,266 to August's $4,598. It's worth noting that the brand has managed to maintain a position within the top 20, indicating a stable presence in this category within the province.
On the other hand, WholeHemp's performance in the Topical category in Ontario has seen a slight downward trend. The brand's ranking dropped from 21st place in May to 22nd in August. This could be a result of fluctuating sales figures, which peaked at $934 in July before dropping to $637 in August. The absence of a ranking number for the month of June suggests that they did not make the top 20 brands for that period. While this is not ideal, it does highlight an area for potential growth and improvement for WholeHemp.
In the Capsules category within Ontario, WholeHemp has shown a steady performance, maintaining a position within the top 20 brands over the past four months. However, it's worth noting that WholeHemp's rank has slightly improved from 20th in July 2023 to 18th in August 2023. This is in contrast to Nutra which has seen a drop in rank from 19th to 24th in June 2023, indicating a potential decline in popularity. Daily Special and Truro Cannabis Co. have consistently ranked higher than WholeHemp, but their ranks have fluctuated over the months. Specifically, Truro Cannabis Co. saw a significant drop from 13th to 17th between July and August 2023. MediPharm Labs, while ranking lower than WholeHemp in August 2023, was not even in the top 20 in May and June 2023, suggesting a recent surge in popularity. In terms of sales, all competitors have had higher sales than WholeHemp in August 2023, but WholeHemp's sales have been increasing over the past three months, indicating a positive trend.
In August 2023, WholeHemp's top-performing product was the 'Premium CBD (3.5g)' from the Flower category, maintaining its first-place rank from previous months. The 'CBDA Capsules 15-Pack (300mg CBDA)' jumped from fourth to second place, showing a notable increase in sales to 306 units. 'CBD Milled (14g)', also in the Flower category, held steady at third place. The 'Premium CBD Pre-Roll 10-Pack (7g)' from the Pre-Roll category dropped from second to fourth place. Lastly, the 'CBD:THC Sugar Scrub (250mg CBD, 10mg THC, 85g)' from the Topical category maintained its fifth-place rank.