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Jun-2024
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Overview
Market Insights Snapshot
Ovis has shown notable performance in the Capsules category in Alberta. The brand has consistently improved its ranking, moving from 7th place in March 2024 to 3rd place by June 2024. This upward trajectory suggests a strong market presence and growing consumer preference in the province. The steady increase in sales figures, culminating in a significant jump in June, underscores this positive trend. Such a performance indicates that Ovis is effectively capturing market share and resonating well with consumers in Alberta.
However, it's worth noting that Ovis's visibility across other states and categories is less prominent, as they were not ranked in the top 30 brands in those areas. This absence could be viewed as a potential area for growth or a gap that needs addressing. The brand's strong performance in Alberta's Capsules category could serve as a model for strategies to replicate in other markets. Monitoring future rankings and sales data will be crucial to understanding whether Ovis can maintain its momentum and expand its footprint beyond Alberta.
Competitive Landscape
In the Alberta capsules category, Ovis has shown a significant improvement in its market position over the past few months. Starting from a rank of 7 in March 2024, Ovis climbed to rank 3 by June 2024. This upward movement is notable, especially when compared to competitors like Glacial Gold and Stigma Grow, which have consistently held the top two positions but saw a slight shift with Glacial Gold taking the top spot in June. Meanwhile, Dosecann maintained a steady rank of 4, and Frank experienced a drop from rank 5 to 6 over the same period. The rise of Ovis in rank is accompanied by a corresponding increase in sales, indicating a positive reception in the market and suggesting that Ovis is effectively capturing market share from its competitors. This trend highlights the brand's growing influence and potential for continued success in the Alberta capsules market.
Notable Products
In June 2024, Ovis's top-performing product was the CBD:THC 10:10 Balanced Softgel 15-Pack, maintaining its first-place ranking for the fourth consecutive month with an impressive sales figure of 4276 units. The Blue THC Softgel 15-Pack retained its second-place position, although its sales dropped to 1076 units from a previous high of 1564 units in April. The CBG:CBD:THC 5:5:5 Softgels 15-Pack climbed back to third place with sales recovering to 370 units after a dip in May. Notably, the Blue THC Softgel 50-Pack, which had no ranking in March and May, surged to fourth place in June. The CBD Softgels 30-Pack held steady in fifth place, showing a consistent performance with minor fluctuations in sales figures over the months.
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