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Jun-2024
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Overview
Market Insights Snapshot
Bold's performance across various cannabis categories in different provinces shows a mix of strengths and areas needing improvement. In ALBERTA, Bold made a notable entry into the Concentrates category in June 2024, securing the 26th spot. However, their position in the Vapor Pens category saw a decline from 29th in March to 50th in June, indicating a significant drop in market presence. In the Pre-Roll category, Bold consistently maintained a strong presence, improving from 40th in March to 33rd in June, which reflects positively on their market strategy in this segment. Meanwhile, in the Flower category, they remained outside the top 30, indicating potential areas for growth and focus.
In SASKATCHEWAN, Bold's performance varied across categories. The Flower category saw Bold entering the top 30 in May 2024, securing the 27th position and then slipping slightly to 33rd in June. Their Pre-Roll category performance remained consistent, holding the 21st position in both May and June. Notably, in the Vapor Pens category, Bold showed strong performance, ranking 8th in May before moving to 14th in June, indicating a solid foothold in this segment. In BRITISH COLUMBIA, Bold's Pre-Roll category performance was impressive, consistently staying within the top 30 and finishing at 32nd in June. However, their Flower category rankings fluctuated slightly, ending at 49th, suggesting room for improvement in this market.
Competitive Landscape
In the competitive landscape of the Pre-Roll category in British Columbia, Bold has experienced notable fluctuations in its ranking and sales over recent months. Bold's rank improved from 28th in March 2024 to 23rd in April 2024, reflecting a significant uptick in sales. However, the brand saw a decline in rank to 29th in May 2024 and further to 32nd in June 2024, indicating a competitive pressure and potential market saturation. In contrast, WINK maintained a relatively stable presence, hovering around the 31st to 34th ranks, but saw a boost in June 2024, surpassing Bold. Meanwhile, Hiway made a dramatic leap from 39th in April 2024 to 16th in May 2024, before settling at 30th in June 2024, suggesting a temporary surge in popularity. Similarly, Parcel showed a consistent upward trend, moving from 51st in March 2024 to 33rd in June 2024. These shifts highlight the dynamic nature of the market and underscore the importance for Bold to continuously innovate and adapt to maintain its competitive edge.
Notable Products
In June 2024, the top-performing product for Bold was Root Beer Float Pre-Roll 3-Pack (1.5g), maintaining its number one rank consistently from March to June with sales of 16,164 units. Death Star Pre-Roll 3-Pack (1.5g) improved its position to second place from fourth in April and third in May. Root Beer Float (3.5g) dropped to third place after holding the second spot for April and May. Root Beer Float Blunt (1g) remained steady in fourth place throughout the past three months. Notably, Frozen Cherry Lemonade Infused Pre-Roll 3-Pack (1.5g) entered the rankings at fifth place in June.
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