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Jun-2024
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Overview
Market Insights Snapshot
Fly North has shown a consistent presence in the Ontario edible market, maintaining a steady ranking within the top 15 brands over the past four months. Notably, they achieved their highest ranking in May 2024, climbing to the 11th position before slightly dropping back to 13th in June 2024. This fluctuation in rank suggests a competitive landscape but also highlights Fly North's ability to sustain its market position. Their sales figures reflect a similar trend, with a notable peak in May 2024, indicating a successful month in terms of revenue generation. The brand's ability to stay within the top tier of the market in Ontario signifies a strong consumer base and effective market strategies.
In contrast, Fly North's performance in the Saskatchewan edible market has been more variable. After not appearing in the top 30 rankings for March and April 2024, Fly North made a significant entry into the 11th position in May 2024 and maintained this rank in June 2024. This sudden rise suggests recent strategic changes or successful product launches that resonated well with consumers in Saskatchewan. The jump from non-ranking to 11th place is a positive indicator of growth potential in this region. However, the absence from the top 30 in the earlier months also highlights the challenges Fly North faces in gaining and maintaining market share in different provinces.
Competitive Landscape
In the competitive landscape of the Edible category in Ontario, Fly North has experienced notable fluctuations in its rank and sales over the past few months. Despite a strong performance in May 2024, where it climbed to the 11th position, Fly North's rank dropped back to 13th in June 2024. This fluctuation is particularly significant when compared to Bhang, which has maintained a more stable position around the 11th rank, and Chowie Wowie, which consistently held the 12th rank. Additionally, Vortex Cannabis Inc. has shown a strong upward trend, moving from the 21st rank in March 2024 to 14th by June 2024, indicating a potential rising competitor. Fly North's sales have also seen a slight decline from May to June 2024, which contrasts with the more stable or increasing sales figures of its competitors. This dynamic suggests that while Fly North remains a significant player, it faces stiff competition and must strategize effectively to maintain and improve its market position.
Notable Products
In June 2024, Fly North's top-performing product was Pomegranate Star Shower Lozenges 10-Pack (100mg), maintaining its consistent first-place ranking with sales of 6,924 units. The Sour Passion Fruit Soft Chew (10mg) climbed to the second spot, showing a notable increase from its fourth-place ranking in April and May. Key Lime Pie Soft Chew (10mg) held steady at third place, though its sales figures saw a slight decline compared to May. The CBD:THC 1:1 Ambrosia Melon Soft Chews 2-Pack (10mg CBD, 10mg THC) dropped from third to fourth place. Grape Canyon Soft Chew (10mg) remained in fifth place, demonstrating stable performance over the past months.
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