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Jun-2024
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Overview
Market Insights Snapshot
Freedom Cannabis has shown varied performance across different categories and states/provinces. In Alberta, the brand has made notable progress in the Concentrates category, rising from rank 25 in March 2024 to rank 18 in June 2024. This upward trend is also seen in the Flower category where Freedom Cannabis jumped from rank 27 in May 2024 to rank 14 in June 2024, indicating strong market penetration. However, the brand's performance in the Pre-Roll category has been less impressive, consistently ranking outside the top 30, with its best rank being 33 in May 2024. The Vapor Pens category also saw fluctuating rankings, peaking at 47 in both March and June, suggesting room for improvement.
In British Columbia, Freedom Cannabis has shown a steady climb in the Flower category, moving from rank 42 in April 2024 to rank 31 in June 2024. The Pre-Roll category also saw significant improvement, with the brand advancing from rank 84 in March 2024 to rank 46 in June 2024. Conversely, in Ontario, the brand's Flower category rankings have remained relatively stable, hovering around the mid-40s, with a slight dip to rank 50 in May 2024. In Saskatchewan, Freedom Cannabis has had mixed results; while it achieved a commendable rank of 21 in Vapor Pens in June 2024, it failed to make the top 30 in the Pre-Roll category after March 2024, indicating inconsistent performance in that market.
Competitive Landscape
In the competitive landscape of the Flower category in Alberta, Freedom Cannabis has shown notable fluctuations in its rank over the past few months, which has significant implications for its market positioning and sales trajectory. From March to June 2024, Freedom Cannabis experienced a dip in rank from 23rd to 27th before making a strong comeback to 14th. This rebound in June is particularly impressive given the competitive pressure from brands like FIGR, which improved its rank dramatically from 54th in March to 15th in June, and Big Bag O' Buds, which also saw a rise from 24th to 16th in the same period. Despite these challenges, Freedom Cannabis managed to increase its sales substantially in June, indicating a successful strategy to regain market share. However, it still faces stiff competition from consistently high-ranking brands such as Delta 9 Cannabis and SUPER TOAST, which have maintained strong positions in the top 20 throughout the period. This dynamic environment underscores the importance for Freedom Cannabis to continue innovating and adapting its strategies to sustain and improve its market position.
Notable Products
For June 2024, the top-performing product from Freedom Cannabis is Reserve Sativa Sunrise Pre-Roll 3-Pack (1.5g), maintaining its number one rank from May 2024 with notable sales of 7480 units. The Drifter Pre-Roll 3-Pack (1.5g) holds the second position, consistent with its rank from the previous month. The Nomad Pre-Roll 3-Pack (1.5g) improved its ranking slightly, moving up to third place from fourth in May. Reserve Indica Sunset Pre-Roll 3-Pack (1.5g) climbed up to fourth place from fifth in May. Freedom Reserve Pre-Roll 3-Pack (1.5g) dropped to fifth place, a decline from its third position in May 2024.
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