Market Insights Snapshot
In the Alberta market, Wildflower has shown consistent performance in the Tincture & Sublingual category, maintaining a steady rank at 3rd place from July to October 2023. This suggests a strong consumer base for their products in this category. However, their performance in the Topical category has seen a decline over the same period, dropping from 9th place in July to 18th place in October. This could indicate increased competition or a shift in consumer preferences.
Looking at other markets, Wildflower's performance varies. In Ontario, the brand has maintained a steady presence in the Topical category, ranking around 9th or 10th place from July to October. However, in Massachusetts, Wildflower doesn't appear in the top 20 brands for Vapor Pens after July, suggesting a need for improvement in their strategy for this market and category. In Washington, the brand was ranked 22nd in the Topical category in August, but has since fallen out of the top 20, indicating a potential area of concern.
In the Ontario Topical category, LivRelief has consistently ranked higher than Wildflower, though it has seen a slight decrease in rank from 4th to 8th between July and October 2023, indicating a potential decrease in popularity. On the other hand, Noon & Night has steadily climbed the ranks, surpassing Wildflower in September 2023. Axea and Nuveev have consistently ranked below Wildflower, with Nuveev showing a slight upward trend. Despite fluctuations in rank, Wildflower has maintained a steady position in the top 10, indicating a stable presence in the market. However, the sales trend for Wildflower shows a decrease in October 2023, suggesting a need for strategies to boost sales and improve its competitive position.
In October 2023, the top-performing product from Wildflower was the CBD Cool Stick (300mg CBD, 2.5oz), maintaining its number one rank from previous months. The CBD Relief Tincture (1000mg CBD) rose to the second position, showing an improvement from its third rank in August and second in September. The CBD+ Cool Stick (300mg CBD,2oz) which was previously ranked fifth in July and fourth in August, dropped off the top rankings in October. The CBD Mini Cool Stick (160mg, 2oz) also fell off the top rankings after being second in August. The CBD Cool Stick (300mg CBD, 2.5oz) had a notable sales figure of 234 units sold in October.