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Jun-2024
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Overview
Market Insights Snapshot
Ace Valley's performance in the Beverage category has shown mixed results across different provinces. In Alberta, the brand has experienced a gradual decline in rankings, moving from 15th place in March 2024 to 17th place by June 2024. This downward trend is accompanied by a noticeable decrease in sales, dropping from $25,728 in March to $16,435 in June. On the other hand, in British Columbia, Ace Valley has maintained a more stable position, consistently ranking around 14th to 15th place over the same period, although sales figures have also seen a decline from $29,895 in March to $22,456 in June. This suggests that while the brand is holding its ground in terms of ranking in British Columbia, it is facing challenges in maintaining sales volumes.
In Ontario, Ace Valley's performance has been less favorable. The brand has remained outside the top 20, holding the 22nd position in March and April 2024, and slipping further to 25th place in May and June 2024. Despite this, sales figures have shown a relatively smaller decline compared to other provinces, moving from $37,957 in March to $33,211 in June. This indicates that while Ace Valley is struggling to climb the rankings in Ontario, it still enjoys a certain level of consumer loyalty that helps sustain its sales. The brand's varied performance across these provinces highlights the importance of regional strategies to address specific market conditions and consumer preferences.
Competitive Landscape
In the competitive landscape of cannabis beverages in Ontario, Ace Valley has experienced a slight decline in its ranking, moving from 22nd in March and April 2024 to 25th in May and June 2024. This trend indicates a need for strategic adjustments to regain market position. Notably, Kiss has consistently outperformed Ace Valley, maintaining a higher rank and showing robust sales growth, peaking at 23rd in May and June 2024. Meanwhile, Summit (Canada) has shown a steady improvement, surpassing Ace Valley in April 2024 and maintaining a 24th rank through June 2024. Additionally, Palmetto re-entered the market in June 2024 at 26th, indicating potential future competition. Embody has remained relatively stable but still trails behind Ace Valley. These dynamics suggest that Ace Valley needs to innovate and enhance its market strategies to compete effectively against these rising brands.
Notable Products
In June 2024, Ace Valley's top-performing product was CBD Passion Fruit Guava Sparkling Water (25mg CBD), which moved up to the first rank with sales of 6651 units. The CBD:CBG Blueberry Acai Sparkling Water (21mg CBD, 7mg CBG) dropped to the second position from its consistent first place in previous months. Thrust - Watermelon Goji Gummies 2-Pack (10mg) maintained its third rank, although its sales figures saw a significant decline. The CBD/THC 5:1 Lust Cherry Rose Gummies 2-Pack (25mg CBD, 5mg THC) held steady in fourth place. Notably, the CBD Great White Shark Pre-Roll 3-Pack (1.5g) remained at the fifth rank, showing minimal fluctuation in sales.
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