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Jun-2024
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Overview
Market Insights Snapshot
Phant has shown varied performance across different categories and provinces. In British Columbia, the brand has maintained a strong presence in the Concentrates category, consistently ranking within the top 10, although there was a slight dip from 4th in March to 6th by June. This indicates a stable but slightly fluctuating market position. However, Phant's performance in the Flower category has been less impressive, never breaking into the top 30 and even dropping to 64th in May before slightly recovering to 54th in June. In the Vapor Pens category, Phant has shown some volatility, peaking at 21st in May but falling back to 26th in June, which suggests a competitive but challenging market landscape.
In Ontario, Phant's presence in the Concentrates category has been minimal, only appearing in the rankings in May at 56th, indicating limited market penetration. On the other hand, their Vapor Pens have experienced more consistent performance, moving from 94th in March to a more stable position around the 75th mark by June. This shows a gradual improvement but still highlights the brand's struggle to break into the top tiers. In Saskatchewan, Phant's Vapor Pens made an appearance in June, ranking 39th, which could indicate emerging potential in this market. Overall, Phant's performance varies significantly across regions and categories, reflecting both opportunities for growth and areas needing strategic focus.
Competitive Landscape
In the British Columbia concentrates market, Phant has experienced notable fluctuations in its ranking and sales over recent months. While Phant held a strong position at rank 4 in March and May 2024, it saw a decline to rank 5 in April and further dropped to rank 6 in June 2024. This downward trend in rank correlates with a significant decrease in sales, dropping from $113,107 in April to $89,901 in June. In contrast, competitors like 1964 Supply Co have maintained a stable high rank, consistently holding the 3rd position in March, May, and June, with sales peaking at $162,696 in May. Meanwhile, Nugz has shown a more volatile performance, fluctuating between ranks 6 and 9, but still managing to rebound to rank 8 in June with sales of $75,266. Another competitor, Dabble Cannabis Co., experienced a dramatic improvement from rank 20 in April to rank 7 in May and June, indicating a strong recovery in sales. Additionally, Brindle Farms emerged in the market in May at rank 13 and quickly ascended to rank 5 in June, showcasing a rapid increase in market presence. These competitive dynamics suggest that Phant needs to strategize effectively to regain its market position amidst the aggressive advancements of its rivals.
Notable Products
In June 2024, Orange Cream Diamonds (1g) from Phant maintained its top position in the Concentrates category, achieving sales of 1421 units. The Orange Cream Liquid Live Diamond Cartridge (1g) rose significantly to second place in the Vapor Pens category, marking a notable improvement from its fifth-place ranking in May. Donkey Ballz (7g) climbed to the third spot in the Flower category, having re-entered the rankings after an absence in May. Apes in Space Live Resin Cartridge (1g) saw a slight drop to fourth place in the Vapor Pens category, continuing its downward trend from previous months. Lastly, the Orange Cream Diamond Infused Pre-Roll (1g) ranked fifth in the Pre-Roll category, showing a decline from its fourth-place ranking in May.
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