Apr-2024
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Overview
Market Insights Snapshot
In the competitive cannabis market, Holy Mountain has shown varied performance across different categories and states. In Alberta, their ranking in the Flower category saw a steady decline from 19th in January 2024 to 49th by April 2024, indicating a significant drop in market position despite starting with strong January sales of $363,827. This downward trend is mirrored in their Pre-Roll category within the same province, slipping from a 54th position in January to 67th by April. Conversely, in British Columbia, Holy Mountain maintained a more stable presence in the Flower category, with a slight improvement from a rank of 36 in March to 29 in April, suggesting a resilience or strategic adjustment that helped them regain some ground.
Ontario presents a brighter picture for Holy Mountain, particularly in the Flower category where they managed to stay within the top 25 from January to April 2024, peaking at 14th in January with sales reaching $954,551. This indicates a strong consumer preference or effective market strategies in Ontario's competitive landscape. However, their venture into the Vapor Pens category in Ontario shows a challenging start, with a ranking of 64th in January and no subsequent rankings through to April, pointing to a potential area for growth or reevaluation. The absence of rankings in subsequent months across various categories and states signifies either a strategic withdrawal or an area where Holy Mountain could focus on improving their market penetration and consumer engagement.
Competitive Landscape
In the competitive landscape of the Flower category within Ontario, Holy Mountain has experienced fluctuations in its market position, indicating a volatile yet significant presence. Starting strong in January 2024 with a rank of 14, it faced a dip in February, dropping to 23rd, before partially recovering to 19th in March and settling at 20th in April. This trajectory suggests challenges in maintaining its foothold against competitors, notably Tribal and BLKMKT, which have shown more consistency in their rankings, albeit with their own fluctuations. Notably, Wagners demonstrated a significant leap from 27th to 15th between January and February, maintaining a strong position into March, which underscores the competitive pressure Holy Mountain faces. Furthermore, Pepe, despite starting from a lower base, has shown impressive growth, moving from 50th in January to 21st by April, closely trailing Holy Mountain. This competitive analysis highlights the dynamic nature of the Flower market in Ontario, with Holy Mountain needing to navigate these shifts carefully to improve or maintain its market position amidst aggressive competition and changing consumer preferences.
Notable Products
In April 2024, Holy Mountain's top-selling product was Holy Smokes - GMO Tropical Reign Pre-Roll 10-Pack (4g) in the Pre-Roll category, maintaining its number one position from February and March with sales figures reaching 3058 units. Following closely, Purple Punch-Out (3.5g) in the Flower category secured the second spot, showing a slight improvement in its ranking from the previous month. The third position was held by Purple Punch-Out (28g), also in the Flower category, which experienced a gradual decline in its ranking over the past few months from being the top product in January. Ultra Jean-G (28g), another Flower category product, consistently held the fourth rank across all four months. Notably, GMO Tropical Reign (28g) made its first appearance in the rankings in April, directly entering at the fifth position with sales of 1047 units.