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Mar-2024
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Overview
Market Insights Snapshot
In the competitive cannabis market of Alberta, Ritual Green has shown a notable performance across different categories. Specifically, in the Flower category, the brand managed to improve its ranking from 95th in December 2023 to 72nd by March 2024, despite a slight fluctuation in the rankings over these months. This upward movement in rankings is a positive sign, although it's important to note that they were not in the top 30 brands, indicating there's room for growth. In the Pre-Roll category, Ritual Green displayed a more consistent improvement, moving from the 60th position in December 2023 to the 53rd by March 2024. This steady climb in rankings, coupled with an increase in sales from 92,390 in December to 102,045 by March, suggests a growing consumer preference for Ritual Green's pre-rolls in Alberta.
Turning our attention to Saskatchewan, Ritual Green's performance tells a different story. The brand experienced a significant drop in the Flower category, falling from the 28th position in January 2024 to 52nd in February, before making a notable recovery to 29th by March. This volatility suggests fluctuating market dynamics or operational challenges. However, the recovery to a higher ranking position in March is promising. The Pre-Roll category in Saskatchewan saw a decline, with the brand falling from 36th in December 2023 to 59th by March 2024, indicating a potential decrease in consumer preference or increased competition. The sales figures in this category also reflect a downward trend, decreasing from 26,801 in December to 11,868 by March. This performance across both categories in Saskatchewan highlights the challenges Ritual Green faces, contrasting with its more positive trajectory in Alberta.
Competitive Landscape
In the competitive landscape of the Pre-Roll category in Alberta, Ritual Green has shown notable fluctuations in its ranking over the recent months, moving from 60th in December 2023 to 53rd by March 2024. This indicates a volatile position within the market, as it battles closely with competitors like WINK, which has seen a slight improvement moving from 56th to 51st in the same period, and Holy Mountain, which experienced a more dramatic shift from 36th to 54th, closely trailing behind Ritual Green by March 2024. Interestingly, LITTI, despite not being ranked until January 2024, surged to 52nd by March, showcasing a significant upward trend and surpassing Ritual Green. Meanwhile, Coterie also saw a remarkable recovery, jumping from 79th in February to 55th by March, indicating a competitive market dynamic. These movements suggest that while Ritual Green is maintaining a competitive stance, the brand is in a tight race with its competitors, facing challenges from both established brands and new entrants, which could impact its sales and market position in the longer term.
Notable Products
In March 2024, Ritual Green's top-performing product was the French Cookies Bubble Hash Infused Pre-Roll 3-Pack (1.5g) with impressive sales of 4255 units, maintaining its first-place ranking since December 2023. Following closely behind in second place was the Black Mamba Pre-Roll 3-Pack (1.5g), which also consistently held its position from December 2023 through March 2024. The third spot was secured by the French Cookies Pre-Roll 3-Pack (1.5g), showcasing a stable performance across the same period. Notably, the Black Mamba (7g) flower category product remained in fourth place, demonstrating consistent consumer preference. A new entry in the top rankings for March 2024 was Mac 1 (7g) in the flower category, which debuted directly in fifth place, indicating a strong market entry.
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