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Jun-2024
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Overview
Market Insights Snapshot
In Alberta, Noon & Night has shown consistent performance in the Topical category, maintaining a steady rank of 5th from March to June 2024. This stability is noteworthy, especially considering the fluctuating nature of the cannabis market. Additionally, the brand experienced a significant sales increase in June, reaching $27,609, which is a substantial jump from the previous months. This upward trend in sales indicates a growing consumer base and potentially successful marketing strategies or product launches during this period.
On the other hand, in Ontario, Noon & Night's performance presents a mixed picture. The brand was not ranked in the top 30 in March, but it managed to climb to the 8th position in April and maintained this rank through May. However, it's important to note that the sales figures in Ontario showed a slight decline from April to May, suggesting some market challenges or increased competition. The absence of the brand from the top ranks in March could be seen as a setback, but the subsequent improvement in ranking demonstrates resilience and adaptability in a competitive market.
Competitive Landscape
In the Alberta Topical cannabis category, Noon & Night has maintained a consistent rank of 5th place from March to June 2024. Despite this stability, the brand faces stiff competition from other key players. Solei has shown a strong upward trend, moving from 4th to 3rd place in June 2024, with significantly higher sales figures compared to Noon & Night. Meanwhile, Stewart Farms experienced a slight decline, dropping from 3rd to 4th place, which could present an opportunity for Noon & Night to climb in rank if they capitalize on this shift. Wildflower re-entered the rankings in June, holding the 7th position, while LivRelief maintained a steady 6th place throughout the period. These dynamics suggest that while Noon & Night has a stable position, there is potential for growth if they can leverage market trends and shifts among competitors.
Notable Products
For June 2024, the top-performing product from Noon & Night remains the CBD/THC 10:1 Lavender Fizz Bath bomb (100mg CBD, 10mg THC), maintaining its first-place ranking despite a slight drop in sales to 879 units. The CBD Bath Fizz Collection Bath Bombs 3-Pack (300mg CBD) climbed back to the second position with notable sales of 338 units. The CBD Freshly Minted Roll-On (200mg CBD, 9.2ml) secured the third spot, showing consistent improvement in sales over the past months. The CBD Shinrin Yoku Fizz Bath Bomb (100mg CBD) remained steady at fourth place with increased sales figures. The CBD:THC 1:1 Eucalyptus Fizz Bath Bomb (75mg CBD, 75mg THC, 85g) re-entered the rankings at fifth position, indicating a resurgence in popularity.
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