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Apr-2024
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Overview
Market Insights Snapshot
In the competitive cannabis markets of Alberta, British Columbia, and Ontario, Color Cannabis has shown varied performance across categories and provinces. Notably, in British Columbia, their Pre-Roll category has maintained a strong presence, consistently ranking within the top 4 from January to April 2024, showcasing their dominance in this category within the province. This is in stark contrast to their Flower category in Alberta, which only entered the top 30 in March and showed a significant improvement moving from rank 69 in March to 52 in April, indicating a positive trend in this category. However, the absence of Color Cannabis in the top 30 rankings in any category in Saskatchewan until April, when they debuted at rank 14 in the Pre-Roll category, highlights potential areas for growth or recent market entry strategies.
Examining sales trends, Color Cannabis exhibited a remarkable performance in the Pre-Roll category in British Columbia, with sales peaking in January 2024 at over 1.3 million, before experiencing a slight decline and then stabilizing. This demonstrates the brand's strong consumer demand and market acceptance in British Columbia. On the other hand, in Alberta, while their Pre-Roll category consistently ranked in the 30s and 40s from January to April, the sales figures suggest a stable consumer base, with sales hovering around the 130,000 mark from March to April 2024. Ontario presents a mixed picture for Color Cannabis; despite a lower ranking in the Flower category compared to Pre-Rolls, the Flower category saw a notable increase in sales from March to April, indicating growing consumer interest or effective marketing strategies in place. These insights into Color Cannabis's performance across different provinces and categories underscore the brand's successes and potential areas for expansion or increased marketing efforts.
Competitive Landscape
In the competitive landscape of the Pre-Roll category in British Columbia, Color Cannabis has experienced notable fluctuations in its market position, initially ranking 2nd in January 2024 but slipping to 4th place from February through April 2024. This shift in rank is particularly interesting when considering the performance of its competitors. Shred, for instance, moved up from 4th to 2nd place in the same timeframe, indicating a significant increase in sales and market preference. Meanwhile, Weed Me maintained a steady 3rd place, showcasing consistent consumer demand. Good Supply and Redecan held their 5th and 6th ranks respectively, with Good Supply showing a robust sales performance that far exceeded Redecan's. The dynamic shifts and sales trends among these brands highlight the competitive nature of the market and underscore the importance for Color Cannabis to innovate and adapt to reclaim its earlier standing and respond to consumer preferences in British Columbia's Pre-Roll category.
Notable Products
In April 2024, Color Cannabis saw Mango Haze Pre-Roll 10-Pack (3.5g) as its top-selling product, with sales reaching 17,596 units, maintaining its number one rank from March. Following closely, Ghost Train Haze Pre-Roll 10-Pack (3.5g) secured the second position, a consistent performer from February to April. The Mango Haze Pre-Roll 2-Pack (0.7g) showed remarkable growth, moving up to the third rank in April from the fifth position in March, indicating a growing consumer preference for smaller pack sizes. Space Cake Pre-Roll 10-Pack (3.5g) was ranked fourth, slightly dropping from its third position in March, showcasing a slight shift in consumer choices. Lastly, Pedro's Sweet Sativa Pre Roll 2-Pack (0.7g) entered the top five in April, highlighting the diverse range of Color Cannabis products favored by consumers.
Top Selling Cannabis Brands
