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Jun-2024
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Overview
Market Insights Snapshot
Canaca's performance in the Alberta market shows a consistent presence in the Flower category, maintaining a rank within the top 30. Starting at the 20th position in March 2024, Canaca saw a slight dip to 23rd by June 2024, although sales exhibited a positive trend, increasing from $302,117 to $344,777 over the same period. Conversely, in the Pre-Roll category, Canaca's rankings have declined from 62nd in March to 79th in June, indicating a struggle to maintain market share in this segment despite an initial uptick in April sales.
In Ontario, Canaca's performance in the Flower category remained relatively stable, with minor fluctuations in rankings, ending June 2024 back at the 28th position, the same as in March. However, sales figures showed a recovery trend from a dip in April. The Pre-Roll category in Ontario tells a different story, with Canaca not breaking into the top 30 brands consistently, reflecting challenges in gaining a stronger foothold. In British Columbia, Canaca's Flower category ranking was absent in May, suggesting a significant drop in market presence, while the Pre-Roll category saw a decline but managed to stay within the top 70.
Competitive Landscape
In the Ontario flower category, Canaca has shown a relatively stable yet competitive presence, with its rank fluctuating between 28th and 36th from March to June 2024. Despite not breaking into the top 20, Canaca's sales have demonstrated resilience, particularly in June 2024, where it saw an uptick to 473,223 units sold. Comparatively, Wagners has maintained a stronger position, consistently ranking higher than Canaca, though its sales have shown a downward trend, closing the gap between the two brands. Nugz and Potluck have also been notable competitors, with Nugz improving its rank from 36th to 30th and Potluck showing a steady climb, both outperforming Canaca in sales. Well Made presents an interesting case, with significant rank volatility but strong sales figures, indicating potential market opportunities that Canaca could capitalize on. Overall, while Canaca has room for growth, the competitive landscape suggests potential for strategic adjustments to improve its market position in Ontario's flower category.
Notable Products
In June 2024, the top-performing product for Canaca was Darts - Fruitsplosion Pre Roll 10-Pack (4g), maintaining its number one rank for four consecutive months with sales reaching 13,607 units. Blueberry Donuts (7g) held the second position, consistent with its rank from May 2024, showing a significant sales increase from 5,560 units in May to 8,533 units in June. Darts - Berries & Cream Pre Roll 10-Pack (4g) remained steady in the third position throughout April to June 2024, with a slight sales increase to 5,226 units. Darts - Magic Mochaccino Pre-Roll 10-Pack (4g) entered the rankings in June at fourth place with 3,374 units sold. Afghaniskunk (7g) dropped from the second place in April to the fifth place in June, with sales figures showing a decline from 5,263 units in April to 2,993 units in June.
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