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Jun-2024
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Overview
Market Insights Snapshot
Good Buds has shown a mixed performance across different categories and regions over the past few months. In Alberta, the brand had a notable rise in the Flower category, moving from rank 68 in March 2024 to rank 25 by June 2024, indicating a strong upward trend. However, their performance in the Concentrates category was less consistent, with rankings fluctuating and even dropping out of the top 30 in April 2024. This inconsistency might be a cause for concern, as it suggests a lack of stable market presence in that category. In the Pre-Roll category, Good Buds saw a decline from rank 56 in March to rank 60 in June, indicating a downward trend that could potentially impact future sales.
In British Columbia, Good Buds experienced varied success across categories. The Flower category saw a significant improvement, with their rank climbing from 92 in March 2024 to 43 in June 2024, reflecting growing consumer interest. Conversely, the Concentrates category showed erratic performance, with the brand failing to make the top 30 in April 2024 but re-entering the rankings in May and June. The Pre-Roll category presented a more positive outlook, as Good Buds improved from rank 37 in March to rank 28 in June, suggesting a steady increase in market share. These insights highlight the brand's strengths in certain categories while also pointing out areas that require strategic focus.
Competitive Landscape
In the competitive landscape of the Flower category in Alberta, Good Buds has shown a remarkable upward trend in its rankings and sales over the past few months. Starting from a rank of 68 in March 2024, Good Buds has climbed to the 25th position by June 2024, indicating a significant improvement in market presence. This upward trajectory is contrasted with brands like Canaca, which has seen a slight decline, dropping from the 20th to the 23rd position over the same period. Similarly, Muskoka Grown experienced a dip from 15th to 27th, while MTL Cannabis showed a more stable but slightly declining trend, moving from 17th to 24th. Notably, Tommy's Craft Cannabis exhibited volatility, peaking at 13th in April before falling to 26th in June. These shifts highlight Good Buds' growing competitiveness and potential to capture more market share in Alberta's Flower category.
Notable Products
In June 2024, Mango Cake Pre-Roll 2-Pack (1g) retained its top position with impressive sales of 7021 units. Gluerangatan (7g) climbed to the second spot, showing significant growth from its fifth position in April. Pink Cake Pre-Roll 2-Pack (1g) moved up to third place, reflecting a consistent rise in sales over the months. Gluerangutan Pre-Roll 7-Pack (3.5g) dropped to fourth place despite strong performance in previous months. Notably, BC Organic - Gluerangutan Pre-Roll (1g) entered the rankings at fifth place for the first time in June.
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