Jun-2024
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Overview
Market Insights Snapshot
Mod has demonstrated a stable and slightly improving performance in the Oil category within Ontario. The brand maintained a consistent 10th place ranking in March and April 2024 before climbing to 9th place in both May and June 2024. This upward trend reflects a positive reception and growing consumer base for Mod's oil products in the region. The steady increase in sales figures, from $38,140 in March to $54,123 in June, further underscores this growth trajectory. Such a trend indicates that Mod is effectively capturing market share and resonating well with consumers in Ontario's competitive landscape.
However, it is important to note that Mod's presence is not consistent across all states and categories. For instance, the absence of ranking data in other states and categories suggests that Mod has not yet broken into the top 30 brands in those markets. This could be seen as a potential area for growth, or conversely, a challenge that the brand needs to address. The performance in Ontario's Oil category sets a benchmark that Mod might aim to replicate in other regions to broaden its market influence and enhance overall brand visibility.
Competitive Landscape
In the highly competitive Ontario oil category, Mod has shown consistent performance, maintaining its rank around the 9th and 10th positions from March to June 2024. This stability is notable given the fluctuations observed in other brands. For instance, Glacial Gold has seen a significant upward trajectory, climbing from 12th in March to 6th in June, which could indicate a growing preference among consumers. On the other hand, Five Founders experienced a decline, dropping from 6th in March to 12th in June, potentially opening up opportunities for Mod to capture some of their market share. Axea has shown a more volatile pattern, but their overall upward movement from 8th to 7th suggests they are a strong competitor. Meanwhile, Divvy has had a more erratic performance, falling out of the top 10 in April and May before recovering to 10th in June. Mod's steady rank and increasing sales figures indicate a solid market position, but the brand must remain vigilant and responsive to the dynamic competitive landscape to sustain and improve its standing.
Notable Products
In June 2024, Mod's top-performing product was THC Berry Drops (3ml), maintaining its first-place ranking for the fourth consecutive month with impressive sales of 3,346 units. Following closely, THC Lime Drops (2ml) held steady in second place, although its sales saw a significant drop to 709 units from previous months. THC Variety Pack Drops (12ml) remained consistently in third place, showing a notable increase in sales to 633 units. The rankings for these top three products have remained unchanged since March 2024. This stability in rankings suggests a strong and consistent preference among consumers for these specific products.