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Mar-2024
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Overview
Market Insights Snapshot
In the topical category, Stewart Farms has shown a consistent performance across several provinces, maintaining a top 3 ranking in Alberta, British Columbia, and Ontario from December 2023 to March 2024. This is indicative of a strong market presence and consumer preference within these regions. However, it's notable that in Saskatchewan, Stewart Farms experienced a fluctuation, dropping out of the top 30 in January 2024, which suggests a potential area for improvement or a market-specific challenge. The sales figures, while not disclosed in detail, followed a similar pattern of consistency in the top-performing provinces, with a slight decline observed from December 2023 to March 2024. This could hint at market saturation or increased competition within the topical category.
Looking at the sales data provided for December 2023, Stewart Farms led the topical category in Alberta with significant sales before experiencing a decrease in subsequent months across all provinces. This trend might reflect a variety of factors, including seasonal demand fluctuations or changes in consumer buying behavior. The absence from the top 30 in Saskatchewan for January 2024, followed by a return in February and March, albeit at lower ranks, underscores the volatility and competitive nature of the market in this province. Despite these challenges, maintaining a top 3 position in major markets like Alberta, British Columbia, and Ontario is commendable and suggests a well-established brand loyalty and a solid foundation for future growth strategies.
Competitive Landscape
In the competitive landscape of the topical cannabis market in Alberta, Stewart Farms initially held the top position in December 2023 but saw a notable shift in its rank, moving down to third place from January 2024 through March 2024. This change in rank is significant as it indicates a shift in consumer preference or market dynamics, with Wildflower Canada ascending to the lead position by March 2024, followed closely by Proofly. Wildflower Canada, in particular, demonstrated a strong upward sales trajectory, overtaking Stewart Farms with a considerable margin by March 2024. Meanwhile, Solei and Noon & Night maintained their positions at fourth and fifth, respectively, throughout the period. The data suggests that while Stewart Farms experienced a decline in both rank and sales, competitors like Wildflower Canada and Proofly capitalized on this opportunity, showing significant sales growth and improved market positioning. This competitive analysis underscores the fluid nature of the cannabis market in Alberta, highlighting the importance for brands like Stewart Farms to innovate and adapt to maintain or improve their market standing.
Notable Products
In March 2024, Stewart Farms' top-selling product remained the CBD/THC 1:1 Blue Dream Bath Bomb (50mg CBD, 50mg THC, 130g) with sales figures reaching 1611 units, maintaining its number one rank consistently from December 2023 through March 2024. Following closely, the CBD:THC 1:1 Multipack Bath Bomb 3-Pack (150mg CBD,150mg THC) held its second position with a slight sales increase from February to March. The third spot was secured by the CBD:THC 1:1 Multipack Bath Bomb 3-Pack (100mg CBD,100mg THC, 130g), showing a stable position in the rankings over the past months. The Rebound - CBD Blueberry Sunset Salt Soak (1000mg CBD, 500g) also retained its fourth position, despite a decrease in sales. Notably, the Double Dream Bath Bomb (130g) stayed in fifth place, marking a consistent performance across the board for Stewart Farms' topical category.
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