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Apr-2024
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Overview
Market Insights Snapshot
In the competitive landscape of cannabis products, Daily Special has shown a varied performance across categories and provinces, indicating both its strengths and areas for improvement. In Alberta, the brand maintained a steady rank in the Capsules category, hovering around the 10th and 11th positions from January to April 2024, showcasing consistency in this category. However, its presence in the Flower category tells a different story; the brand was not ranked in the top 30 in January but saw a gradual decline from 79th in February to 90th by April, suggesting a need to bolster its market presence. Conversely, Daily Special made a notable entry in the Pre-Roll category by April, ranking at 98th, indicating a new area of focus or a recent product launch. The performance in Vapor Pens in Alberta also saw fluctuations, with the brand disappearing from the rankings in February but making a comeback by March and April.
Turning our attention to other provinces, Daily Special's performance in British Columbia and Ontario offers insight into its broader market strategy. In British Columbia, the brand made significant gains in the Vapor Pens category, jumping from not being in the top 30 in March to ranking 40th by April, showcasing a promising upward trajectory. Ontario presents a mixed bag, with the brand experiencing a decline in the Flower category - moving from 47th in January to 82nd by April, yet maintaining stability in the Concentrates category at 53rd in the first two months of the year. Notably, Daily Special's presence in the Edibles category in Ontario was short-lived, with a rank of 31st in January but disappearing from the rankings thereafter. This varied performance across provinces and categories underscores the dynamic nature of the cannabis market and the importance of strategic positioning and product diversification for brands like Daily Special.
Competitive Landscape
In the competitive landscape of the Flower category in Ontario, Daily Special has experienced a notable shift in its market position over the recent months. Initially ranked 47th in January 2024, it saw a gradual decline to 82nd by April 2024, indicating a challenging period in terms of sales and market presence. This trend is contrasted by the performance of its competitors, such as Truro Cannabis Co., which maintained a stronger rank, moving from 41st to 81st but with a less steep decline in sales. Similarly, Highland Grow and Bold have shown resilience, with Highland Grow moving from 44th to 85th and Bold making a significant jump to 80th by April 2024. Qwest, despite its lower starting rank, displayed a steady improvement in rank, ending slightly above Daily Special by April 2024. These movements suggest that while Daily Special faces stiff competition, its competitors are experiencing varied success, with some like Bold showing potential for growth and others like Truro Cannabis Co. maintaining a stronger position despite market fluctuations.
Notable Products
In April 2024, Daily Special's top-performing product was El Chemino (3.5g) from the Flower category, maintaining its number one rank from the previous two months with sales reaching 4202 units. Following closely, Gasberry Pie (3.5g), also from the Flower category, secured the second rank consistently since February, showcasing its steady popularity. The third position was taken by El Chemino (14g), marking its rise in the ranks to become a notable contender in April with its debut in the top three. Sativa J's Pre-Roll 7-Pack (2.1g) from the Pre-Roll category landed in fourth place, indicating a slight shift in consumer preference towards pre-rolled options. Interestingly, the Indica (3.5g) product made a comeback into the top five, underscoring a diversified consumer interest across different forms and strains of cannabis products.
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