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Apr-2024
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Overview
Market Insights Snapshot
In analyzing Carmel's performance across various categories and states, a notable trend emerges in its stronghold within the Ontario market, particularly within the Pre-Roll category. Maintaining a consistent top 10 ranking from January to April 2024, Carmel's Pre-Roll products have shown remarkable stability and consumer preference, evidenced by their sales increasing from 985,077 in January to 1,110,601 in April. This upward trajectory in both ranking and sales highlights Carmel's dominant position in Ontario's Pre-Roll market. Conversely, in British Columbia, Carmel's Flower category witnessed a significant drop, starting at rank 66 in January with no ranks recorded from February to April, indicating a potential withdrawal or significant underperformance in this category within the province.
Meanwhile, in Alberta, Carmel's performance presents a mixed picture. The brand maintained a steady presence in the Flower and Pre-Roll categories, with slight fluctuations in rankings but showing a general consistency in staying within the top 30 and top 25, respectively, from January to April 2024. The sales in the Pre-Roll category, for instance, saw an increase from 244,411 in January to 282,226 in April, suggesting a growing consumer base or increased market penetration in Alberta. This is contrasted starkly by its performance in British Columbia, where, aside from the Pre-Roll category, Carmel struggled to maintain a significant presence in the Flower category, dropping out of the rankings after January. Such disparities across provinces underscore the challenges and opportunities Carmel faces in different markets, reflecting the brand's dynamic performance and adaptability to consumer preferences and market demands.
Competitive Landscape
In the competitive landscape of the Pre-Roll category in Ontario, Carmel has maintained a consistent position, ranking 10th across the first four months of 2024. This stability in rank, however, masks the underlying dynamics of its competition and sales performance. Notably, Redecan and Pure Sunfarms have shown stronger sales figures, holding onto higher ranks (6th to 8th for Redecan and 8th to 9th for Pure Sunfarms) throughout the same period. On the other hand, MTL Cannabis, initially outperforming Carmel, has seen a decline, falling from 7th to 11th place, which brings it closer to Carmel's position. Meanwhile, PIFF has been making significant strides, moving from 19th to 12th, indicating a competitive momentum that could challenge Carmel's standing in the near future. These shifts suggest that while Carmel has held steady in its rank, the competitive pressure from both established brands and rising contenders could influence its market position and necessitate strategic adjustments to maintain or improve its rank and sales in Ontario's Pre-Roll market.
Notable Products
In April 2024, Carmel's Animal Face Pre-Roll 3-Pack (1.5g) maintained its position as the top-selling product with a record sales figure of 37,769 units, consistently holding the number one spot since January. Following closely was the Animal Face (3.5g) in the Flower category, securing the second rank throughout the first four months of the year. The Slurty3 Pre-Roll 3-Pack (1.5g) experienced a notable rise, moving up to third place in April from its initial appearance in the rankings in February. Sexy AF Pre-Roll 3-Pack (1.5g) made its debut in the rankings directly in the fourth position in April, showcasing a strong market entry. Drew's Pheno Pre-Roll 3-Pack (1.5g) has seen a slight decline, dropping from the fourth position in January to fifth by April, illustrating a competitive shift within Carmel's product lineup.
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