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Apr-2024
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Overview
Market Insights Snapshot
In the competitive cannabis edible market, Monjour has shown notable performance across various provinces in Canada, maintaining its position within the top 10 brands consistently over the first four months of 2024. Specifically, in Alberta, Monjour's ranking fluctuated slightly, starting at 5th in January, improving to 4th in February, returning to 5th in March, and then dropping to 6th in April. This movement indicates a strong presence in the Alberta market, although the slight drop in April could suggest emerging competition or changes in consumer preferences. In contrast, the brand's performance in British Columbia, Ontario, and Saskatchewan has been remarkably stable, maintaining the same rank across these months. This stability is a positive sign, showing that Monjour has secured a loyal customer base and consistent sales in these regions.
Examining the sales data, Monjour's performance in terms of revenue presents an upward trajectory in most provinces, with a notable increase in sales from January to March 2024. For instance, in Ontario, sales rose from approximately 430,600 in January to 495,496 in March, before experiencing a slight decline to 467,385 in April. This pattern of growth followed by a modest decrease is mirrored in other provinces, suggesting a potential seasonal impact on consumer purchasing behavior or possibly the saturation of the market. Despite these fluctuations, Monjour's ability to remain in the top rankings, especially without falling out of the top 30 in any listed province, underscores its robust market position and the effectiveness of its brand strategy in the highly competitive edibles category.
Competitive Landscape
In the competitive landscape of the edible cannabis market in Ontario, Monjour has maintained a consistent position, ranking 7th across the months from January to April 2024. This stability in ranking, amidst fluctuating sales figures, indicates a solid foothold within the market. Notably, Monjour's competitors have shown varying degrees of movement in both rank and sales, with Wana experiencing a slight decline from 4th to 5th place, despite leading in sales among the mentioned brands. In contrast, Edison Cannabis Co and Foray have held steady in their 6th and 8th positions respectively, with Edison showing a notable increase in sales over the period. Meanwhile, No Future has seen an improvement in rank, moving from 12th to 10th, indicating a positive trajectory in the market. Monjour's consistent ranking amidst these shifts suggests a stable demand for its products, but the brand must remain vigilant of the dynamic movements within the competitive landscape to sustain and improve its market position.
Notable Products
In April 2024, Monjour's top-performing product was the CBN:CBD:THC 8:3:1 Bedtime Blueberry Lemon Gummies 4-Pack, maintaining its number one rank from the previous months with sales figures peaking at 40,947 units. Following closely, the CBD/CBN/CBG 20:5:5 Twilight Tranquility Sugar-Free Gummies 25-Pack climbed to the second position, showing a notable improvement from its consistent third-place ranking earlier in the year. The CBD Berry Good Day Gummy 30-Pack, previously holding the second spot, dropped to third in April, indicating a shift in consumer preferences within the edible category. The CBD Orchard Medley Gummies 30-Pack retained its fourth place, demonstrating steady demand among Monjour's offerings. Lastly, the CBD Sunny Citrus Gummies 30-Pack, which was absent from the March rankings, re-entered the chart at fifth place, highlighting dynamic changes in product popularity over the months.
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