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Jun-2024
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Overview
Market Insights Snapshot
Favours has shown notable performance in the Beverage category within Alberta. Despite not being ranked in the top 30 brands for March and April 2024, Favours made a significant leap in May, securing the 20th position and further improving to 19th in June. This upward movement indicates a positive trend in consumer interest and market penetration. The sales figures for May and June reflect this growth, with a slight dip from May to June, suggesting either a seasonal fluctuation or increased competition.
While the brand's absence from the top 30 rankings in the initial months might have been concerning, its ability to break into the rankings and improve positions highlights a strategic shift or successful marketing efforts. The improvement from May to June demonstrates resilience and a potential for continued growth in the Beverage category within Alberta. Observers should keep an eye on how Favours continues to perform in the coming months to determine if this is a sustained trend or a temporary spike.
Competitive Landscape
In the Alberta beverage category, Favours has shown a notable upward trend in recent months, entering the top 20 brands in May 2024 and improving its rank to 19th by June 2024. This positive movement indicates a growing market presence, especially when compared to competitors like Summit, which saw a decline from 13th in March 2024 to falling out of the top 20 by June 2024. Similarly, Ace Valley maintained a relatively stable position, ranking between 15th and 17th over the same period, while Collective Project dropped out of the top 20 after April 2024. AMBR remained consistent at 18th place from April to June 2024, just ahead of Favours. These shifts highlight Favours' potential to continue climbing the ranks, especially as some competitors experience declines or stagnation in their sales performance.
Notable Products
In June 2024, the top-performing product from Favours was Peach Mixer Drink Shot (10mg THC, 60ml) in the Beverage category, which ascended to the first rank with sales of 865 units. Berry Mixer Shot (10mg THC, 60ml) followed closely, dropping to the second rank after maintaining the top spot for the previous three months. Lemon Beverage Shot (10mg THC, 60ml) remained consistently in third place across all four months. Notably, Pink Krush (3.5g) in the Flower category reappeared in the rankings at third place in June 2024 after not being listed in the preceding months. The shifts in rankings highlight the growing preference for the Peach Mixer Drink Shot over the Berry Mixer Shot in June.
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