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Apr-2024
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Overview
Market Insights Snapshot
In the competitive landscape of cannabis products, Phyto Extractions has shown varied performance across different categories and states/provinces, according to the data available. In the concentrates category, Phyto Extractions has maintained a strong presence in Alberta, with rankings fluctuating slightly but showing an upward trend in April 2024, moving from 12th to 8th position. This suggests a recovering or growing interest in their concentrates within the Alberta market. Conversely, in Ontario, the brand faced challenges, with a downward trend from 29th to 32nd position, indicating potential struggles in maintaining their market share amidst stiff competition. Notably, in Saskatchewan, Phyto Extractions had a strong start in the concentrates category, ranking 3rd and 4th in the early months of 2024, though data for subsequent months is missing, leaving room for speculation on their current standing.
Looking at the vapor pens category, Phyto Extractions experienced a mix of challenges and successes. In British Columbia, the brand saw a slight decline in rankings from 29th to 31st position from January to April 2024, despite a peak in sales in March. This suggests that while there was a significant interest in their vapor pens, it may not have been enough to keep up with the competition or market growth. Interestingly, in Ontario, after not ranking in February, there was a notable jump to 42nd in March and then to 38th in April, accompanied by a substantial increase in sales, indicating a remarkable turnaround or successful marketing efforts that captured consumer interest. This varied performance across provinces underscores the dynamic nature of consumer preferences and market competition that brands like Phyto Extractions navigate in the cannabis industry.
Competitive Landscape
In the competitive landscape of the Vapor Pens category in Ontario, Phyto Extractions has shown a notable fluctuation in its market position, with a significant absence in February 2024 rankings indicating it was not among the top 20 brands for that month. However, it demonstrated a remarkable recovery by March and April 2024, moving to ranks 42 and 38 respectively. This trajectory suggests a volatile yet upward trend in its market performance relative to its competitors. Notably, Dab Bods maintained a more stable presence, consistently ranking in the 30s, and Roilty Concentrates showed slight improvement in its rank, indicating a steady demand for their products. Vortex Cannabis Inc., similar to Phyto Extractions, was not listed in the top 20 in February but showed a significant presence in the following months. Despite the competitive pressure, Phyto Extractions' sales in March and April surged, hinting at a strong consumer interest that could potentially elevate its market position if sustained. This analysis underscores the dynamic nature of the Vapor Pens market in Ontario, with Phyto Extractions navigating through significant rank changes and sales fluctuations, highlighting the importance of monitoring longer-term trends for a comprehensive market understanding.
Notable Products
In April 2024, Phyto Extractions' top-performing product was Ice Wreck Shatter (1g) from the Concentrates category, maintaining its number one rank consistently from January with a notable sales figure of 5505.0 units. Following closely, Fire Stick - Slurriking Distillate Cartridge (1g) in the Vapor Pens category secured the second position, showing a significant rise from its previous rank in March. The third spot was taken by Explorer Shatter Infused Pre-Roll 3-Pack (1.5g) from the Pre-Roll category, marking its first appearance in the top rankings. Slurrup Distillate Cartridge (1g), also in the Vapor Pens category, dropped to fourth place after previously holding the third spot in March. Lastly, Fruit Stand Infused Pre-Roll 3-Pack (1.5g) from the Pre-Roll category entered the top five, highlighting a diversification in the types of products customers are gravitating towards.
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