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Jun-2024
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Overview
Market Insights Snapshot
RIFF has shown notable performance across various categories and provinces. In the Beverage category, RIFF has maintained a strong presence in Alberta and Ontario. Specifically, in Alberta, RIFF improved its ranking from 11th in March to 9th in June 2024, highlighting a consistent upward trend. In Ontario, the brand has consistently stayed within the top 10, maintaining its 9th position from May to June 2024. This consistency in performance underscores the brand's strong foothold in the Beverage category across these provinces. However, in the Flower category, RIFF's performance in Alberta has seen a decline, with its rank dropping to 99th in June, indicating a potential area for improvement.
In Saskatchewan, RIFF's performance in the Beverage category has been impressive, consistently ranking in the top 4 from March to June 2024. However, in the Flower category, RIFF's presence was absent in March but saw a significant improvement, reaching the 58th position in May. This indicates a growing acceptance and market penetration in the Flower category within Saskatchewan. On the other hand, in British Columbia, RIFF's performance in the Flower category has not been as strong, with the brand not making it to the top 30 rankings in the subsequent months after March. This suggests a need for strategic adjustments to enhance their market presence in British Columbia.
Competitive Landscape
In the Ontario beverage category, RIFF has shown a consistent performance, maintaining its rank within the top 20 brands over the past four months. RIFF's rank improved from 11th in April 2024 to 9th in May and June 2024, indicating a steady upward trend. This is notable when compared to Ray's Lemonade, which saw a drop from 6th in March 2024 to 9th in April 2024, before stabilizing at 7th in May and June 2024. Meanwhile, Solei remained relatively stable, with a slight improvement from 13th in March and April 2024 to 10th in June 2024. Another significant competitor, Collective Project, showed a remarkable climb from 17th in April 2024 to 8th in June 2024. This competitive landscape highlights that while RIFF is maintaining a solid position, the dynamic shifts among competitors like Green Monke, which jumped from 16th in April 2024 to 11th in June 2024, suggest that RIFF must continue to innovate and adapt to sustain and improve its market position.
Notable Products
In June 2024, the top-performing product for RIFF was Blue Raspberry Ice Beverage (10mg THC, 355ml), maintaining its first-place rank with sales reaching 9504 units. Wild Raspberry Lemonade (10mg THC, 355ml) followed closely in second place, also holding its consistent rank from previous months. Boost- THC:CBG 1:1 Vanilla Frost Carbonated Drink (10mg THC, 10mg CBG) climbed to third place, showing a slight improvement from its fourth-place ranking in May. Boost- THC:CBG 1:1 Tropical Burst Carbonated Drink (10mg THC, 10mg CBG 355ml) dropped to fourth place, reversing its previous third-place position. Subway Scientist Pre-Roll (1g) remained steady in fifth place, though its sales have seen a gradual decline over the past months.
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