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Jun-2024
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Overview
Market Insights Snapshot
Foray has shown a varied performance across different provinces and product categories. In Alberta, Foray's Vapor Pens have demonstrated a consistent upward trend, moving from 18th place in March 2024 to 14th place by June 2024. This steady climb is a positive indicator of growing consumer preference in the region. On the other hand, in British Columbia, Foray's Edible category faced a decline, dropping from a consistent 13th place ranking in the first three months to 16th place in June 2024. This could signal a shift in consumer tastes or increased competition in the edible market.
In Ontario, Foray's performance in the Edible category has been notably stable, maintaining the 8th position from March to June 2024. This consistency suggests a loyal customer base for their edibles in Ontario. However, in the Vapor Pens category, Foray has seen a positive shift, improving from 24th place in March to 19th place in June 2024, indicating a potential growth opportunity in this segment. In Saskatchewan, Foray's Edible category experienced fluctuations, peaking at 7th place in March before dropping to 9th place by June. This variability might reflect changing market dynamics or seasonal demand variations.
Competitive Landscape
In the Ontario Vapor Pens category, Foray has shown a notable improvement in its ranking from March to June 2024. Starting at rank 24 in March, Foray climbed to rank 19 by June, indicating a positive trend in market performance. This upward movement is significant when compared to competitors such as Kolab, which fluctuated around the 20th position and ultimately dropped to 21st in June. Meanwhile, Community Cannabis experienced a more volatile trajectory, ending at rank 18 in June after dropping to 24th in April. Despite the competition, Foray's consistent sales growth, culminating in a peak in June, suggests a strengthening market presence. This is particularly noteworthy against D*gg Lbs, which maintained a steady rank around 20th but did not exhibit the same upward momentum. Foray's performance highlights its potential to continue climbing the ranks in the competitive Ontario Vapor Pens market.
Notable Products
In June 2024, the top-performing product for Foray was the Blackberry Cream Distillate Disposable (0.3g) in the Vapor Pens category, maintaining its consistent first-place ranking with sales of 15,757 units. The CBD/THC 1:1 Salted Caramel Chocolate Bar (10mg CBD, 10mg THC) in the Edible category also retained its second-place ranking, showing steady performance. The Indica Distillate Disposable (0.3g) in Vapor Pens climbed to third place from fourth in May 2024. Edi's - CBD Blood Orange Soft Chews 30-Pack (600mg CBD) dropped to fourth place from third, while the Balanced Mango Haze Distillate Disposable (0.3g) in Vapor Pens remained in fifth place, showing a notable increase in sales compared to previous months. These rankings highlight the strong and consistent performance of Foray's Vapor Pens and Edible products.
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