.svg){kind=small}
Jun-2024
Sales
Trend
6-Month
Product Count
SKUs
Overview
Market Insights Snapshot
Summit has shown varied performance across different states and categories over the past few months. In Alberta, their Beverage category saw a decline, moving from 13th place in March to dropping out of the top 30 by June. This drop indicates a significant decrease in market presence, which could be concerning for the brand. In contrast, in British Columbia, Summit's Beverage category maintained a more stable ranking, fluctuating slightly but staying within the top 20, ending at 17th place in June. This consistency in British Columbia could suggest a more loyal customer base or effective regional strategies.
In the Colorado market, Summit's performance has been mixed across categories. For instance, their Flower category saw a slight improvement from 70th in March to 65th in June, indicating some positive movement. However, their Concentrates category did not make it into the top 30 in any of the months reviewed, which might point to challenges in competing within this segment. Additionally, in Michigan, Summit's Vapor Pens category appeared in the rankings only in May at 91st place, suggesting a limited presence in this market. Such data highlights the brand's strong and weak points across different regions and product categories, providing a nuanced view of its overall market performance.
Competitive Landscape
In the competitive landscape of the Colorado flower category, Summit has experienced notable fluctuations in its rank and sales over the past few months. Summit's rank improved from 70th in March 2024 to 58th in April 2024, but then dropped to 75th in May 2024 before slightly recovering to 65th in June 2024. This volatility indicates a competitive market where Summit is struggling to maintain a consistent position. In comparison, Rare Dankness consistently outperformed Summit, despite a decline from 37th in March 2024 to 60th in June 2024. Similarly, Green Treets maintained a relatively stable position, hovering around the 68th to 71st ranks. Meanwhile, Dadirri showed a significant improvement, moving from 84th in March 2024 to 70th in June 2024, indicating a positive trend that could pose a threat to Summit. Additionally, Northwest Cannabis Solutions made a notable leap from being unranked to 55th in June 2024, highlighting the dynamic nature of the market. These competitive shifts underscore the need for Summit to strategize effectively to improve its market position and capitalize on growth opportunities.
Notable Products
In June 2024, the top-performing product from Summit was the Raspberry Lemonade Drink (10mg THC, 355ml) in the Beverage category, maintaining its first-place ranking despite a notable drop in sales to 3426 units. The Summit Berry Jellies 10-Pack (200mg) in the Edible category held steady at the second position, showing a significant sales increase compared to previous months. Tropic Cherry (Bulk) from the Flower category also remained consistent, securing the third spot with a steady rise in sales. Black Inferno (1g) in the Flower category returned to the rankings at fourth place, while Crank Yanker (Bulk), another Flower product, maintained its fifth position. These rankings indicate a stable preference for these top products, with some fluctuations in sales figures but consistent overall performance.
Top Selling Cannabis Brands
