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Mar-2024
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Overview
Market Insights Snapshot
In the competitive cannabis market across Canada, the brand Frank has shown noteworthy performance in various categories and provinces, with particular strengths in Capsules and Oil. In Alberta, Frank's Capsules category has seen a steady climb in rankings from 7th in December 2023 to 4th in March 2024, accompanied by a consistent increase in sales, peaking at 72,921 in March. Their Oil category in Alberta has also performed impressively, maintaining a top 2 position from January to March 2024, with a significant jump in sales to 138,255 in March. This upward trajectory in both categories underscores Frank's growing dominance in the Alberta market. However, in Ontario, while there's been an improvement in rankings for both Capsules and Oil, the brand has not cracked the top 10 in either category, indicating a more challenging market or stronger competition.
Looking at other provinces, Frank's performance varies. In British Columbia, the brand has maintained steady rankings in the Capsules and Oil categories, hovering around the 7th and 8th positions from December 2023 to March 2024. Despite not leading the pack, Frank's consistent presence in the top 10 highlights a reliable consumer base in British Columbia. Saskatchewan presents a story of growth for Frank, especially in the Oil category, where it moved from 15th in December 2023 to 8th in March 2024, showcasing significant market penetration and increasing popularity. This improvement in Saskatchewan, coupled with strong sales growth, suggests that Frank is effectively expanding its footprint and resonating with consumers in smaller markets. The brand's varied performance across provinces illustrates its dynamic approach to market penetration and category dominance, with Alberta standing out as a stronghold for Frank's cannabis products.
Competitive Landscape
In the competitive landscape of the oil category in Alberta, Frank has demonstrated a notable upward trajectory in its market position, moving from the 4th rank in December 2023 to the 2nd by March 2024. This rise in rank is indicative of Frank's growing popularity and sales, outpacing competitors such as Tweed, which saw a slight decline from 2nd to 4th place in the same period. However, Frank still trails behind the category leader, MediPharm Labs, which has maintained its top position with a significant sales lead. Another notable competitor, Good Supply, has consistently held the 3rd rank, showcasing a stable performance in the market. Frank's upward movement in rank and sales highlights its growing influence in the Alberta oil market, yet the brand faces stiff competition from established players like MediPharm Labs and Good Supply, which continue to dominate in terms of sales volume and market share.
Notable Products
In Mar-2024, Frank's top-performing product was CBD 100 Oil (30ml) within the Oil category, climbing back to rank 1 with sales peaking at 5621 units. Following closely was the CBD Capsules 30-Pack (1500mg CBD) from the Capsules category, which, despite leading in the previous two months, dropped to rank 2. The CBD Smokes Infused Pre-Roll 10-Pack (5g) in the Pre-Roll category consistently held its position at rank 3, showing stable but lower sales figures compared to the top two products. The Whole Plant CBD (3.5g) product, categorized under Flower, remained at the bottom of the list at rank 4, with a notable decrease in sales, reflecting its consistent lower ranking over the past months. These rankings indicate a strong consumer preference for consumable CBD products over smokable forms, with the Oil and Capsules categories dominating sales for Frank in March.
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