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Apr-2024
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Overview
Market Insights Snapshot
In the competitive cannabis markets of Alberta and Ontario, Coterie has shown a varied performance across different product categories. Notably, in Alberta, their Vapor Pens category demonstrated a consistent improvement in rankings from January to April 2024, moving from 33rd to 26th. This upward trend is significant, indicating a growing consumer preference for Coterie's vapor pens in Alberta, with sales peaking at 130,544 in April. However, the brand's performance in the Flower and Pre-Roll categories tells a different story, with rankings fluctuating but generally indicating a struggle to break into the top 50 consistently. The Pre-Roll category, despite a slight improvement in March, saw a dip in April, suggesting challenges in maintaining market momentum.
On the other hand, Coterie's market presence in Ontario reveals a struggle to secure a strong foothold, with all categories showing rankings outside the top 50 for the majority of the observed period. The Vapor Pens category, in particular, experienced a decline, finishing at 71st in April after starting at 61st in January. This downward trajectory contrasts sharply with their performance in Alberta, highlighting potential market-specific challenges in Ontario. Interestingly, Coterie's entry into the Saskatchewan market with their Flower category in March 2024, achieving a rank of 54th, suggests an expansion strategy that could be pivotal in understanding the brand's overall performance and approach to market penetration in different regions.
Competitive Landscape
In the competitive landscape of the Pre-Roll category in Ontario, Coterie has shown a notable trajectory in terms of rank and sales amidst its competitors. Initially ranked at 77 in January 2024, Coterie improved its position to 63 in February, 70 in March, and further to 67 by April, indicating a positive trend in market acceptance and consumer preference. This upward movement in rank is mirrored by a consistent increase in sales from January to April, showcasing Coterie's growing footprint in the market. Competitors such as Lord Jones, 7 Acres, San Rafael '71, and Kolab have also experienced fluctuations in their rankings and sales, but Coterie's consistent upward trend in a competitive market highlights its potential for further growth and market penetration. While Lord Jones and 7 Acres have seen some rank volatility, San Rafael '71 and Kolab have shown resilience, with Kolab closely competing with Coterie in April's rankings. This competitive analysis underscores the dynamic nature of the Pre-Roll market in Ontario and Coterie's promising trajectory amidst formidable brands.
Notable Products
In April 2024, Coterie's top-performing product was the Select Pheno #7 Pre-Roll 3-Pack (1.5g) within the Pre-Roll category, maintaining its number one rank from previous months with sales reaching 4205 units. Following closely, the Granny Smith Live Resin Cartridge (1g) from the Vapor Pens category secured the second position, also consistent in its ranking with notable sales figures. The Permanent Marker (3.5g) in the Flower category rose to the third rank, showing a recovery and improvement from its previous position in March. The Select Pheno #7 Blunt 2-Pack (2g) made a notable jump to the fourth position from not being ranked in the previous month, indicating a significant increase in consumer interest. Lastly, the Terp Team Blunt 7-Pack (3.5g) from the Pre-Roll category dropped to the fifth rank, showing a slight decrease in its popularity compared to March.
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