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Mar-2024
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Overview
Market Insights Snapshot
In Alberta, Space Race Cannabis has shown a notable presence in both the Flower and Pre-Roll categories, experiencing a mix of upward and downward movements in rankings over the recent months. For the Flower category, the brand maintained a strong position in the top 5 from December 2023 to February 2024, with a slight dip to the 5th position in March 2024. This fluctuation, coupled with a decrease in sales from February to March, suggests a competitive market landscape that may be impacting Space Race Cannabis's performance. On the other hand, the Pre-Roll category saw a slight improvement from December 2023 to January 2024, moving from 10th to 9th, but experienced a decline to the 11th position by March 2024. This decline in ranking, along with a consistent decrease in sales, highlights potential challenges in maintaining market share within this category.
In Saskatchewan, the brand's performance tells a different story, particularly in the Pre-Roll category. Starting from a lower ranking of 32nd in December 2023, Space Race Cannabis made a significant leap to the 22nd position by March 2024. This remarkable improvement, evidenced by a notable increase in sales from February to March, indicates a growing consumer interest or strategic market moves that have favorably impacted the brand's standing in this category. Conversely, the Flower category in Saskatchewan shows a struggle to break into the top 20, with rankings oscillating and a slight improvement to the 25th position by March 2024. The brand's journey from not being in the top 30 in January and February to climbing up the ranks in March, despite fluctuating sales, suggests a volatile market but with potential for growth if trends continue positively.
Competitive Landscape
In the competitive landscape of the cannabis flower category in Alberta, Space Race Cannabis has shown a notable performance amidst its competitors. Initially ranked 4th in December 2023, Space Race Cannabis climbed to the 3rd position by January 2024, maintaining this rank into February before slightly dropping to 5th in March 2024. This fluctuation in ranking reflects a dynamic market, with Space Race Cannabis facing stiff competition from brands like Back Forty / Back 40 Cannabis, which ascended from 6th to 3rd place by March, and Pure Sunfarms, which consistently performed well, moving from 5th to 4th place by March. Other notable competitors include Bake Sale and Versus, both showing significant shifts in their rankings over the same period. Despite these challenges, Space Race Cannabis's sales trends, while experiencing a dip in March, suggest resilience and a strong market presence, indicating a competitive but stable position within the Alberta cannabis flower market.
Notable Products
For Mar-2024, Space Race Cannabis saw Sputnik Pre-Roll (0.4g) retaining its top position in the Pre-Roll category with impressive sales of 26,575 units, marking it as the best-selling product. Apollo Pre-Roll (0.4g) and Stargirl Pre-Roll (1g) consistently held their second and third ranks, respectively, demonstrating stable consumer preferences over the months. Starship Pre-Roll (1g) moved up to the fourth position from being unranked in the previous month, indicating a significant increase in its popularity. Falcon Heavy Pre-Roll (1g) also saw a change in its position, moving down to rank five from its previous fourth position in Feb-2024. These rankings and sales figures highlight a strong consumer preference for Pre-Roll products within the Space Race Cannabis lineup, with notable stability at the top of the chart.
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