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Jun-2024
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Overview
Market Insights Snapshot
In Alberta, Solei has shown a consistent presence in the Beverage and Oil categories, with rankings fluctuating slightly but remaining within the top 15. For instance, in the Beverage category, Solei moved from rank 14 in March to rank 13 in April, then to 15 in May, and back to 13 in June. This indicates a relatively stable performance with minor fluctuations. The Oil category also demonstrated consistency, maintaining ranks around 12 and 13 throughout the months. However, Solei did not make it into the top 30 for the Capsules and Pre-Roll categories until June, where it debuted at rank 13 in Capsules, highlighting a potential area for growth or a recent strategic shift.
In Ontario, Solei's performance in the Beverage category has been notably strong, improving from rank 13 in March to rank 10 by June, indicating a positive trend and growing consumer preference. The Oil category, while consistently ranked, saw a slight dip from 13 in May to 15 in June. Topicals maintained a steady rank of 5 throughout the period, showing strong consumer loyalty. In Saskatchewan, Solei's Topicals have performed exceptionally well, holding the second rank for three months before dropping to third in June, suggesting strong but slightly waning demand. The Beverage category in Saskatchewan saw Solei entering at rank 6 in June, marking a significant entry into the market.
Competitive Landscape
In the Ontario beverage category, Solei has shown a steady improvement in rank and sales over the past few months, moving from 13th place in March 2024 to 10th place in June 2024. This upward trend indicates a positive reception and growing market presence. In comparison, RIFF has maintained a relatively stable position, hovering around the 9th and 10th ranks, while Vacay has seen fluctuations, peaking at 12th place in March and June but dropping to 14th in April. Notably, Collective Project has made a significant leap from 17th place in April to 8th place in June, suggesting a rapid increase in popularity. Meanwhile, Green Monke has also improved its rank from 16th in April to 11th in June. Solei's consistent improvement in rank and sales, despite the competitive landscape, highlights its growing appeal among consumers and positions it well against its competitors.
Notable Products
In June 2024, the top-performing product from Solei was CBD Mango Passionfruit Sparkling Water (25mg CBD), maintaining its first-place ranking for the fourth consecutive month with impressive sales of $12,741. CBD Dragonfruit Watermelon Sparkling Water (25mg CBD) held steady in the second position, continuing its consistent performance. The CBG:THC 2:1 Peach Cranberry Cold Brew Tea (10mg CBG, 5mg THC, 12oz) remained in third place, showing slight growth in sales. Slims - Free Pre-Roll 10-Pack (4g) climbed to fourth place from its previous fifth position in May, indicating increased popularity. The CBD:THC 2:1 Wildberry Hibiscus Cold Brew Tea (10mg CBD, 5mg THC) dropped one rank to fifth place, suggesting a minor decline in its relative performance.
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