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Jun-2024
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Overview
Market Insights Snapshot
Deep Space has demonstrated varying performance across different provinces in the beverage category. In Alberta, the brand maintained a strong position, holding steady at rank 4 from March through May 2024 before dipping slightly to rank 5 in June 2024. This minor decline could indicate increased competition or a seasonal fluctuation in consumer preferences. The sales figures in Alberta reflect a peak in April 2024, followed by a gradual decline, suggesting that while Deep Space is a strong player, there may be external factors influencing its sales trajectory.
In contrast, Ontario shows a more pronounced decline in rankings, with Deep Space dropping from rank 7 in March 2024 to rank 16 by June 2024. This significant movement indicates potential challenges in maintaining market share, possibly due to a surge in competitors or changing consumer tastes. Similarly, in Saskatchewan, the brand experienced a slight decline from rank 4 in March and April 2024 to rank 7 by June 2024. These trends highlight the dynamic nature of the cannabis beverage market and the need for brands like Deep Space to continuously adapt to maintain their competitive edge.
Competitive Landscape
In the Ontario cannabis beverage market, Deep Space has experienced notable fluctuations in its ranking and sales over the past few months. Starting from a strong position at rank 7 in March 2024, Deep Space saw a gradual decline to rank 16 by June 2024. This downward trend in rank is mirrored by a consistent decrease in sales, from 134,741 CAD in March to 82,798 CAD in June. In comparison, Bubble Kush showed a more volatile pattern, initially trailing Deep Space at rank 8 in March but surpassing it in April to rank 7, before also experiencing a decline to rank 18 by June. Meanwhile, TeaPot, which was not in the top 20 in March, climbed to rank 13 by June, indicating a significant upward trajectory in both rank and sales. Another competitor, Señorita, maintained a relatively stable performance, hovering around ranks 15 to 18, with a slight increase in sales. Lastly, Zele showed an upward trend from rank 21 in March to rank 17 in June, suggesting growing consumer interest. These competitive dynamics highlight the need for Deep Space to reassess its marketing and product strategies to regain its market position amidst the shifting landscape.
Notable Products
For June 2024, the top-performing product from Deep Space is Propulsion - THC:CBG 1:1 Cosmic Cherry Lime Soda (10mg THC, 10mg CBG 355ml), maintaining its number one rank from May 2024 with sales of 10,929 units. Propulsion - THC:CBG 1:1 Pulsar Peach Soda (10mg CBG, 10mg THC) remains in the second position, though its sales have significantly dropped to 4,862 units. Deep Space Carbonated Beverage (10mg THC, 222ml) holds steady at the third rank for the fourth consecutive month, showing a slight increase in sales. Orange Orbit Beverage (10mg THC, 222ml) also retains its fourth position with a minor sales increase. Ginger Ale Galaxy (10mg THC, 222ml) reappears in the rankings at fifth place, having not been ranked in April and May, with sales of 1,309 units.
Top Selling Cannabis Brands
