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Jun-2024
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Overview
Market Insights Snapshot
Flyte's performance in the Vapor Pens category across different states and provinces shows a mix of stability and challenges. In British Columbia, Flyte has maintained a presence within the top 30 brands, though its rankings have fluctuated. From March to June 2024, Flyte's rank moved from 21st to 27th, then to 28th, and finally improved slightly to 25th. This indicates some volatility in their market position, albeit with a slight upward trend towards the end of the period. Notably, their sales also show a recovery from April's low of $75,474 to $88,649 in June, suggesting a resilience in consumer demand.
In contrast, Flyte's performance in Ontario is less promising. The brand did not rank within the top 30 Vapor Pen brands from March to May 2024. However, a significant change occurred in June when Flyte entered the rankings at 100th place, indicating a potential breakthrough in this market. The sales figures for Ontario in June were $15,328, which, although modest, represent a foothold in a competitive market. This contrast between British Columbia and Ontario highlights the varying degrees of market penetration and brand recognition Flyte experiences across different regions.
Competitive Landscape
In the competitive landscape of vapor pens in British Columbia, Flyte has experienced notable fluctuations in its market rank over recent months. Starting at rank 21 in March 2024, Flyte dropped to 27 in April and May before slightly recovering to 25 in June. This volatility contrasts with the more stable performance of competitors like RAD (Really Awesome Dope), which maintained a higher rank, fluctuating between 19 and 25 over the same period. Additionally, Phant showed a significant improvement, rising from rank 25 in March to 21 in May, though it dropped again to 26 in June. Meanwhile, No Future and Lord Jones have shown more consistent but lower performance, with ranks generally hovering in the mid-20s. These trends suggest that while Flyte faces stiff competition, particularly from RAD and Phant, there is potential for recovery and growth if strategic adjustments are made to stabilize and improve its market position.
Notable Products
In June 2024, Flyte's top-performing product was Bella Berry Distillate Disposable (0.5g) in the Vapor Pens category, maintaining its consistent first-place ranking from previous months with sales of 2060 units. Smashin Passion Distillate Disposable (0.5g), also in the Vapor Pens category, held steady in the second position, showing an increase in sales to 1395 units. A new entrant in the rankings, Baby Yoda (Bulk) in the Flower category, debuted impressively at third place. Carbon Fiber (Bulk), another Flower product, secured the fourth position in its first appearance. Peanut Butter Pie (Bulk) in the Flower category dropped to fifth place from its previous third position in May, with sales decreasing to 341 units.
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