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Jun-2024
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Overview
Market Insights Snapshot
Phyto Extractions has shown notable performance across various categories and provinces, with significant movements in rankings. In Alberta, the brand has demonstrated strong positioning in the Concentrates category, improving from a rank of 12 in March to 8 in June. This upward trend indicates a solid market presence and growing consumer preference. However, their performance in the Vapor Pens category has been inconsistent, with a notable drop from rank 55 in May to rank 65 in June, suggesting potential challenges or increased competition. Additionally, Phyto Extractions did not make it into the top 30 brands for Pre-Roll in Alberta during May and June, which could be a point of concern for the brand's market strategy in this segment.
In British Columbia, Phyto Extractions has seen fluctuations in the Concentrates category, peaking at rank 14 in April and May before dropping to rank 18 in June. This indicates a volatile market presence that could benefit from strategic adjustments. The Vapor Pens category also saw a decline, with rankings slipping from 26 in March to 40 in June, reflecting a significant decrease in sales volume over the months. In Ontario, the brand's performance in Vapor Pens has been more promising, with a steady climb from rank 41 in March to 24 in June, suggesting a growing market share and consumer acceptance. Conversely, in the Concentrates category, Phyto Extractions failed to maintain a top 30 position, highlighting a potential area for improvement.
Competitive Landscape
In the competitive landscape of Vapor Pens in Ontario, Phyto Extractions has shown a notable upward trajectory in rank and sales over the past few months. Starting from a rank of 41 in March 2024, Phyto Extractions climbed to 24 by June 2024, indicating a significant improvement in market position. This rise is particularly impressive when compared to competitors like Lord Jones, which fluctuated around the 25th rank, and Purple Hills, which hovered between 26th and 29th. Wagners also showed a steady performance, moving from 31st to 23rd, but Phyto Extractions' rapid ascent suggests a stronger growth momentum. Interestingly, Animal, which started strong at 17th in March, dropped to 25th by June, highlighting a potential decline in market share. These trends suggest that Phyto Extractions is gaining traction and could continue to improve its market position if the current growth trajectory is maintained.
Notable Products
In June 2024, the top-performing product for Phyto Extractions was Fire Stick - Slurriking Distillate Cartridge (1g) in the Vapor Pens category, achieving the number one rank with notable sales of 4963 units. Ice Wreck Shatter (1g) from the Concentrates category, which had consistently held the top rank in previous months, dropped to second place. Rainbow Runtz Distilate Disposable (1g) in Vapor Pens improved its position from fourth to third place. Slurrup Distillate Cartridge (1g), also in Vapor Pens, maintained its fourth-place ranking from May to June. Fire Stick - Gorilla Pineapple Distillate Disposable (1g) remained steady in fifth place, showing a slight increase in sales figures.
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