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Jun-2024
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Overview
Market Insights Snapshot
Space Race Cannabis has shown a notable performance across different categories and states over the past few months. In Alberta, their Flower category ranking improved significantly from 5th in March 2024 to 2nd in May 2024, before dropping slightly to 5th in June 2024. This fluctuation is indicative of a competitive market, yet their ability to remain within the top 5 highlights their strong presence. Similarly, in the Pre-Roll category in Alberta, Space Race Cannabis achieved a peak ranking of 6th in both April and May 2024, though they experienced a slight decline to 8th in June 2024. This consistent top 10 performance across categories suggests a stable consumer base and effective market strategies.
In Saskatchewan, Space Race Cannabis has demonstrated remarkable upward mobility, particularly in the Flower category. Starting from a 21st position in March 2024, they climbed to an impressive 4th position by June 2024. This upward trend, especially the substantial jump from 11th in May to 4th in June, indicates growing popularity and potentially successful marketing efforts or product innovations. Meanwhile, their Pre-Roll category rankings in Saskatchewan have been more modest, maintaining positions within the top 20, but showing a notable improvement from 20th in May to 10th in June 2024. This positive movement across both categories in Saskatchewan highlights the brand's expanding footprint in the province.
Competitive Landscape
In the competitive landscape of the Alberta pre-roll cannabis market, Space Race Cannabis has shown notable fluctuations in rank and sales over the past few months. Starting from March 2024, Space Race Cannabis climbed from the 8th position to 6th in April and May, before dropping back to 8th in June. This indicates a competitive struggle, especially against brands like Good Supply and Back Forty / Back 40 Cannabis, which have maintained more stable rankings. Notably, Back Forty / Back 40 Cannabis improved its position from 9th in March to 6th in June, showing a positive sales trajectory that could be a threat to Space Race Cannabis. Meanwhile, Weed Me has consistently hovered around the 7th to 9th positions, indicating a stable but slightly declining performance. The entry of PIFF into the top 10 in May and June also adds to the competitive pressure. These dynamics suggest that while Space Race Cannabis has had moments of upward momentum, it faces significant competition from both established and emerging brands, necessitating strategic adjustments to maintain and improve its market position.
Notable Products
In June 2024, the top-performing product from Space Race Cannabis was Sputnik Pre-Roll (0.4g), maintaining its rank at number one despite a sales decrease to 16,885 units. Stargirl Pre-Roll (1g) climbed to the second position with notable sales of 11,146 units, showing an upward trend from previous months. Apollo Pre-Roll (0.4g) dropped to the third position, reflecting a decline in sales compared to May 2024. Falcon Heavy Pre-Roll (1g) held steady at fourth place, continuing its rise since April 2024. Lastly, Starship Pre-Roll (1g) remained in the fifth position, showing consistent performance with gradual sales improvement over the months.
Top Selling Cannabis Brands
