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Mar-2024
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Overview
Market Insights Snapshot
In the competitive cannabis market, 3Saints has shown notable performance across various categories and states, with a particular emphasis on the Flower and Concentrates categories. In Alberta, the brand has demonstrated steady improvement in the Concentrates category, moving from a rank of 38 in December 2023 to 26 by March 2024. This upward trajectory, coupled with a significant increase in sales from 11,530 in December 2023 to 28,174 in March 2024, underscores a growing consumer preference for 3Saints' concentrates. However, in the same province, their performance in the Flower category tells a different story, with rankings fluctuating and ultimately improving from 39 in December 2023 to 37 in March 2024, despite a notable spike in sales to 173,028 in March 2024.
Expanding its market presence, 3Saints has also made strides in Ontario, where it has seen a consistent rank in the Flower category, maintaining its position in the top 20 from December 2023 through March 2024. This consistency in ranking, combined with an increase in sales to 831,857 in March 2024, highlights the brand's strong foothold in Ontario's Flower market. Meanwhile, the brand's venture into the Pre-Roll category in Ontario did not secure a top 30 ranking until February 2024, showing a late but present attempt to capture market share in this category. On the other hand, in British Columbia, 3Saints has experienced a slight decline in the Flower category from a rank of 17 in February 2024 to 21 in March 2024, despite maintaining robust sales figures, indicating a highly competitive market environment. This mixed performance across categories and states/provinces reflects the dynamic nature of the cannabis market and 3Saints' efforts to adapt and grow its brand presence.
Competitive Landscape
In the competitive landscape of the cannabis flower category in Ontario, 3Saints has shown a notable consistency in its market positioning. Starting from December 2023 and moving into March 2024, 3Saints maintained a steady climb in rank from 18th to 16th place, demonstrating resilience and a slight upward trajectory in a highly competitive market. This is in contrast to brands like MTL Cannabis, which, despite a strong start, saw a significant drop from 6th to 14th place over the same period, indicating a loss in market share and possibly consumer preference. On the other hand, brands such as Wagners and FIGR have shown remarkable improvements in their rankings, moving up the ranks significantly and suggesting a growing consumer base or increased sales efforts. Carmel, similar to 3Saints, experienced fluctuations but ended on a positive note by improving its rank to 17th in March 2024. The ability of 3Saints to maintain and slightly improve its position amidst these dynamics speaks to its steady appeal and market strategy, even as competitors like Wagners and FIGR make notable gains. This analysis underscores the importance of continuous innovation and marketing strategies for 3Saints to sustain and enhance its market position further.
Notable Products
In March 2024, 3Saints saw Kush Cookies (3.5g) from the Flower category securing the top rank with sales figures reaching 15,234 units, marking a notable increase from its position in February. Following closely, Kush Cookies Pre-Roll (0.5g) from the Pre-Roll category took the second spot, maintaining a consistent performance over the past months. Crumbled Lime (3.5g), another Flower category product, experienced a drop from the top position in February to the third rank in March, indicating a shift in consumer preferences. The entry of Crumbled Lime Pre-Roll (0.5g) into the rankings at fourth place suggests growing interest in the Pre-Roll category. Lastly, Sundae Strudel (1g) from the Flower category held its ground at the fifth position, demonstrating steady demand amidst changing market dynamics.
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