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Apr-2024
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Overview
Market Insights Snapshot
In Alberta, Indiva has shown a strong performance in the Capsules category, improving its ranking from 12th in January 2024 to consistently holding the 4th spot from March to April 2024. This upward movement is significant, demonstrating Indiva's growing market presence and consumer preference in this category. The sales figures reflect this positive trajectory, with a notable increase from January to February, although there has been a slight decrease from March to April 2024. In the Edibles category within the same province, the brand maintained a stable position at 12th across the months, indicating a steady demand for its products in this segment. However, the slight decrease in sales in April compared to previous months might suggest a need for strategic adjustments to bolster its market share in this category.
Looking at British Columbia, Indiva's performance in the Capsules category was impressive, securing top 4 ranks from January to March 2024, although it experienced a slight dip to the 4th position in April. This indicates a strong foothold in the British Columbia market, albeit with a slight reduction in sales in April. The Edibles category tells a different story, with the brand ranking in the lower 20s but showing a positive movement from 22nd to 19th from January to April 2024. This improvement, while modest, suggests a growing interest in Indiva's edible offerings in British Columbia. In contrast, in Ontario and Saskatchewan, the brand faced challenges in the Edibles category, with rankings fluctuating and, in Saskatchewan's case, not being ranked until March 2024. This highlights varied market dynamics across provinces and the importance of tailored strategies to navigate each market effectively.
Competitive Landscape
In the competitive landscape of the edible cannabis market in Alberta, Indiva has maintained a consistent position, ranking 12th from January to April 2024. This stability in ranking, however, masks the nuanced dynamics of its competitive environment. Notably, San Rafael '71 and Chowie Wowie have shown themselves to be formidable competitors, with San Rafael '71 holding the 11th position and Chowie Wowie moving between the 9th and 10th positions during the same period. This indicates a higher sales performance for these brands compared to Indiva. On the other hand, Aurora Drift and Bernard's Cannabis Creations trailed behind Indiva, occupying the 13th and fluctuating between the 14th and 15th positions respectively. This competitive analysis highlights the challenges and opportunities for Indiva in the Alberta edible cannabis market, suggesting that while Indiva has maintained a steady position, there is potential for growth and improvement in sales and market rank amidst its competitors.
Notable Products
In April 2024, Indiva's top-performing product was Blips THC Tablets 25-Pack (250mg) within the Capsules category, maintaining its number one rank from the previous two months with sales figures reaching 6728 units. Following closely, Vanilla Double Stuffed Chocolate Cookie (10mg) from the Edible category secured the second position, consistent with its performance in March but down from being the top seller in January. The third spot was claimed by CBD/THC 1:1 Cookies & Cream White Chocolate (10mg CBD, 10mg THC), also in the Edible category, marking an improvement from its fourth position in February and March. The 1432 - CBG:THC 1:1 Milk Chocolate (10mg CBG 10mg THC) landed in fourth place, indicating a slight decline from its higher rankings in the earlier months. Lastly, Doppio- Fudge Double Stuffed Chocolate Cookie (10mg) remained steady at the fifth rank throughout the quarter, indicating consistent sales performance despite stronger competition from other products.
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