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Jun-2024
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Overview
Market Insights Snapshot
Five Founders has demonstrated a notable presence in the Ontario market, particularly within the oil category. The brand maintained a solid ranking of 6th place in March and April 2024, before experiencing a slight dip to 8th place in May and eventually falling to 12th place in June. Despite these fluctuations, Five Founders’ sales figures remained relatively strong, peaking at 56,480 CAD in April before tapering off to 42,564 CAD in June. This downward trend in rankings could indicate increased competition or a shift in consumer preferences, which could be worth monitoring in the coming months.
Interestingly, Five Founders did not appear in the top 30 rankings across other states or provinces for the oil category, which could be interpreted as a missed opportunity or a focus on consolidating their presence in Ontario. The absence from other markets might suggest that the brand is either not as widely distributed or not performing as well outside of Ontario. This regional concentration could be a strategic decision, but it also highlights the potential for expansion. Understanding the factors behind their success in Ontario could provide valuable insights for replicating this performance in other markets.
Competitive Landscape
In the competitive landscape of the Ontario oil category, Five Founders has experienced notable fluctuations in its rank and sales over recent months. Starting strong in March 2024 with a rank of 6th, Five Founders maintained this position in April but saw a decline to 8th in May and further to 12th in June. This downward trend contrasts with the performance of competitors such as Divvy, which, despite a dip in April and May, rebounded to 10th place in June, and Mod, which consistently improved its sales, securing the 9th rank in June. Meanwhile, Floresense and C Minor have shown steadier performances, with C Minor even climbing to 12th place in May before settling at 14th in June. These shifts highlight the dynamic nature of the market, suggesting that Five Founders may need to strategize effectively to regain and sustain its competitive edge.
Notable Products
In June 2024, the top-performing product for Five Founders was the THC Oil (30ml) in the Oil category, maintaining its number one rank with sales of 887 units. The CBD Oil (30ml) also held steady in the second position, with notable sales of 869 units. The THC Blend House Bud Pre-Roll 5-Pack (2.5g) remained in the third spot, showing consistent performance across the months. The CBD:THC 8:5 Balanced Oil (720 mc CBD, 450mg THC, 30ml) ranked fourth, while the Indica Blend Pre-Roll 5-Pack (2.5g) stayed in fifth place. These rankings have remained stable from previous months, indicating strong and consistent consumer preference for these top products.
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