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Mar-2024
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Overview
Market Insights Snapshot
In the beverage category, Deep Space has shown a notable presence across several provinces, with varying degrees of success. In Alberta, the brand maintained a consistent position in the top 5 from December 2023 through March 2024, demonstrating stable popularity and possibly a loyal customer base, though sales slightly fluctuated. A significant improvement was observed in Ontario, where Deep Space leaped from the 18th position in December 2023 to the 7th by March 2024, accompanied by a substantial increase in sales, peaking at 146,487 in March 2024. This suggests a growing demand and possibly effective marketing strategies or product improvements. Conversely, in British Columbia, the brand hovered around the mid-20s rank, indicating a less dominant position in a competitive market.
Deep Space's performance in the edibles category presents a different picture. In Alberta, the brand barely made it into the rankings in December 2023 and January 2024, with a rank of 66, and then disappeared from the top 30, indicating a struggle to capture the market or possibly inventory issues. This absence from the rankings could be viewed negatively, suggesting a need for strategic adjustments. In Ontario, the brand entered the rankings in January 2024 at a low position (87th) and showed little improvement up to March 2024. This persistent low ranking in a significant market like Ontario suggests challenges in gaining traction among consumers or possible saturation in the edibles market. These insights into Deep Space's performance across different categories and provinces highlight areas of strength in beverages, particularly in Ontario and Alberta, while also indicating potential areas for growth and improvement in the edibles category.
Competitive Landscape
In the competitive landscape of the beverage category in Ontario, Deep Space has shown a notable upward trajectory in its rankings over the recent months, moving from 18th in December 2023 to 7th by March 2024. This rise in rank is indicative of a significant increase in sales, marking Deep Space as a brand to watch. Its competitors, such as Ray's Lemonade, which consistently held the 6th position, and Mollo, which impressively climbed to 5th by March 2024, have also shown strong performances. However, Bubble Kush experienced a fluctuation, initially ranking higher than Deep Space but falling to 8th by March 2024, despite starting at 6th in December 2023. Tweed has seen a positive trend, moving from 15th to 9th, indicating a competitive market dynamic. These movements highlight the volatile nature of the market rankings and the potential for brands like Deep Space to continue to gain ground and challenge the status quo in the Ontario beverage category.
Notable Products
In March 2024, Deep Space's top-performing product was the Propulsion - THC:CBG 1:1 Pulsar Peach Soda, maintaining its number one rank from previous months with sales reaching 13,880 units. Following closely, the Propulsion - THC:CBG 1:1 Cosmic Cherry Lime Soda secured the second position consistently across the board, showcasing the brand's dominance in the beverage category. The Deep Space Carbonated Beverage made notable progress, climbing to the third spot in March from its previous fourth position in February, indicating a growing consumer preference. Meanwhile, the Orange Orbit Beverage slightly dipped to the fourth rank, switching places with the Deep Space Carbonated Beverage. Lastly, the Ginger Ale Galaxy entered the rankings for the first time in March, securing the fifth position, which suggests that new products are also being well-received by the market.
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