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Jun-2024
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Overview
Market Insights Snapshot
Sense & Purpose Beverages has shown a notable performance improvement across various categories and states over the past few months. In Alberta, the brand was not in the top 30 in March 2024 but made a significant leap to 22nd place in April, continuing its upward trend to 17th in May and 16th in June. This positive movement indicates growing consumer acceptance and increasing market penetration in the beverage category. The sales figures also reflect this trend, with an impressive rise from $10,140 in March to $19,459 in June, suggesting a robust demand for their products.
Similarly, in Ontario, Sense & Purpose Beverages started outside the top 30 in March 2024 but entered the rankings at 32nd place in April. The brand continued to climb, reaching 30th in May and 28th in June. This gradual but steady upward movement highlights the brand's growing footprint in the Ontario market. The corresponding sales growth, increasing from $13,321 in March to $21,792 in June, further underscores the brand's expanding influence and acceptance among consumers. However, the initial absence from the top 30 in both states indicates there is still room for improvement and potential for further market expansion.
Competitive Landscape
In the competitive landscape of the cannabis beverage market in Ontario, Sense & Purpose Beverages has shown a notable upward trend in its rankings over recent months. Starting from outside the top 20 in March 2024, the brand climbed to 32nd in April, 30th in May, and 28th in June. This steady improvement indicates growing consumer acceptance and market penetration. In contrast, Palmetto has not been in the top 20 for the past four months, suggesting a potential decline in market presence. Embody has maintained a relatively stable position, hovering around the mid-20s, which could imply a loyal customer base but limited growth. Meanwhile, Yandi Fresh and Hover Beverages have experienced fluctuations, with Yandi Fresh dropping from 20th to 29th and Hover Beverages from 23rd to 30th over the same period. These shifts highlight the dynamic nature of the market and suggest that Sense & Purpose Beverages is gaining traction at the expense of some competitors. For a more detailed analysis and to understand the underlying factors driving these changes, consider investing in advanced market data.
Notable Products
In June 2024, the top-performing product from Sense & Purpose Beverages was Recharge - CBD:THC 1:1 Orange, Pineapple & Passionfruit Sparkling Water and Juice, maintaining its number one rank with notable sales of 1927 units. Refocus - CBD/THC 10:1 Green Tea Lemonade Ginger Sparkling Beverage followed consistently in second place, showing steady growth with 1329 units sold. Relax- CBD:THC 1:1 Grapefruit Yuzu Sparkling Water & Juice held the third position, with sales reaching 1099 units. Recover - CBD:THC 10:1 Apple Juice & Organic Apple Cider Vinegar Juice Shot did not rank in June 2024, similar to April 2024. The top three products have maintained their rankings from previous months, indicating stable consumer preferences for these beverages.
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