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Mar-2024
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Overview
Market Insights Snapshot
In the dynamic landscape of cannabis markets across Canada, 7 Acres has shown varied performance across different categories and provinces. Starting with Alberta, the brand has experienced a declining trend in the Flower category, moving from rank 62 in December 2023 to rank 99 in March 2024, indicating a significant drop in its market position. This decline is mirrored in sales figures, with a decrease from $70,767 in December 2023 to $25,748 in March 2024. However, in contrast, the Pre-Roll category in Alberta tells a different story for 7 Acres, with a slight improvement in rank from 59 in December 2023 to 64 in March 2024, alongside an increase in sales, showcasing resilience and potential growth in this segment. The Vapor Pens category, however, has seen a fluctuation in ranks with a notable dip in February 2024 but managed to maintain the same rank into March 2024, suggesting a stabilization in this category for the brand within Alberta.
Shifting focus to British Columbia and Ontario, 7 Acres presents a mixed bag of performance across different categories. In British Columbia, the brand has made a noteworthy impact in the Pre-Roll category, maintaining a top 20 position from December 2023 to March 2024, and even seeing a sales increase in March 2024 to $327,070. This suggests a strong consumer preference for 7 Acres' Pre-Rolls in the province. Conversely, the Flower category in British Columbia saw a slight decline in rank but maintained relatively stable sales figures, indicating a steady demand. Ontario's market shows potential for 7 Acres, especially in the Flower category, where it improved its rank significantly from 74 in January 2024 to 52 in March 2024, accompanied by a notable increase in sales to $221,350 in March 2024. This upward trend in Ontario's Flower category could signal a growing consumer base and increased market penetration for 7 Acres.
Competitive Landscape
In the competitive landscape of the Pre-Roll category in British Columbia, 7 Acres has experienced fluctuations in its market position from December 2023 to March 2024, moving from 13th to 18th rank. This shift indicates a challenging period for 7 Acres, as it struggled to maintain its sales volume amidst stiff competition. Notably, 1964 Supply Co has shown resilience by slightly improving its rank and ending at 16th in March 2024, despite a dip in February. Tweed, another competitor, faced a decline, dropping out of the top 18 by March 2024. Conversely, Pistol and Paris demonstrated growth, moving up to 17th place in March 2024, showcasing a stronger performance relative to 7 Acres. Dab Bods also experienced volatility but ultimately fell to 20th place, indicating a competitive but fluctuating market. These dynamics underscore the competitive pressure on 7 Acres, highlighting the need for strategic adjustments to reclaim and enhance its market position amidst these shifts.
Notable Products
In March 2024, 7 Acres saw the Jack Haze Pre-Roll 2-Pack (1g) maintain its position as the top-selling product with 28,076 units sold, continuing its streak from previous months. Following closely was the Platinum Kush Breath Pre-Roll 2-Pack (1g), which also held its second-place rank consistently over the past months. The Purple Slurricane Infused Pre-Roll 3-Pack (1.5g) secured the third spot, showing a stable performance as it remained in the top three since February. Interestingly, the Purple Pancakes Pre-Roll 2-Pack (1g) re-entered the rankings at fourth place after not being ranked in February. The Tropical Fruit Live Resin Cartridge (1g) marked its debut in the top five in March, indicating a diversifying interest among 7 Acres customers.
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