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Jun-2024
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Overview
Market Insights Snapshot
Shred has demonstrated varied performance across different categories and provinces. In Alberta, Shred has shown consistent strength in the Pre-Roll category, maintaining a solid fourth place from April to June 2024. However, their Flower category ranking saw a slight decline, dropping from 14th in March to 17th in June. This indicates a potential area for improvement or increased competition in the Flower market. Meanwhile, in British Columbia, Shred's Pre-Roll category has remained steadfast at the second position from March to June, showcasing their dominance in this segment. However, their Flower category performance has been less stable, with Shred not appearing in the top 30 in April, which could be a concerning sign for their market presence in that category.
In Ontario, Shred's performance has been noteworthy across multiple categories. The brand has consistently held the second position in the Flower category from March to June 2024, reflecting strong consumer demand and brand loyalty. Additionally, Shred's ranking in the Pre-Roll category has seen an upward trend, moving from sixth in March to fourth in June. This positive movement highlights their growing influence and market share in Ontario's Pre-Roll segment. On the other hand, Shred's presence in the Concentrates category improved, moving from seventh place in March to fifth in June, indicating a positive reception and potential for further growth in this category.
Competitive Landscape
In the highly competitive Ontario flower category, Shred has consistently held the second rank from March to June 2024, showcasing its strong market presence. Despite the fierce competition, Shred's sales have shown a steady increase, indicating robust consumer demand and effective market strategies. The leading brand, Spinach, has maintained its top position throughout the same period, with significantly higher sales figures, suggesting a dominant market share. Meanwhile, Pure Sunfarms has climbed from fourth to third place, reflecting a positive sales trend that could pose a future threat to Shred's position. Additionally, Pure Laine has also shown upward movement, advancing from fifth to fourth place, which highlights the dynamic nature of the market. These shifts underscore the importance for Shred to continually innovate and adapt to maintain its competitive edge in the Ontario flower market.
Notable Products
In June 2024, Shred'ems - CBD/THC 4:1 Wild Berry Blaze Gummy 4-Pack (40mg CBD, 10mg THC) maintained its top position among Shred products with impressive sales of 49,379 units. Shred'em Pop! - Crazy Cream Soda Gummies 4-Pack (10mg) climbed to the second spot, showing a consistent rise from its fourth position in April. Shred'ems - CBD/THC 2:1 Sour Blue Razzberry Gummies 4-Pack (20mg CBD,10mg THC) ranked third, a slight drop from its second place in the previous months. Dartz - Gnarberry Pre-Roll 10-Pack (4g) made a significant entry into the rankings, securing the fourth position in June. Meanwhile, Shred X - Gnarberry Heavies Infused Pre-Roll 3-Pack (1.5g) slipped to fifth place, down from its third position in April.
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