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Jun-2024
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Overview
Market Insights Snapshot
Summit (Canada) has shown varied performance across different states and provinces, particularly in the Beverage category. In Alberta, the brand has seen a decline in rankings, moving from 9th place in March 2024 to 15th place by June 2024. This downward trend is coupled with a decrease in sales, which fell from 44,074 CAD in March to 23,289 CAD in June. Conversely, in British Columbia, Summit (Canada) has experienced a positive trajectory, climbing from 11th place in March to 7th place in June, with sales significantly increasing from 40,900 CAD to 73,877 CAD over the same period. This indicates a strong foothold in British Columbia, contrasting with the brand's performance in Alberta.
In the U.S. market, Summit (Canada) has had mixed results across different categories and states. In Colorado, the brand has seen improvement in the Flower category, moving from 69th place in March to 44th place by June 2024. However, the brand's presence in the Concentrates category in Colorado was not strong enough to maintain a top 30 ranking after March. Additionally, in Michigan, Summit (Canada) entered the Concentrates category rankings at 92nd place in April and slightly improved to 89th place by May, but failed to make it into the top 30. This mixed performance highlights the challenges faced by Summit (Canada) in maintaining a consistent market presence across different regions and product categories.
Competitive Landscape
In the highly competitive Colorado Flower market, Summit (Canada) has shown a notable improvement in its rank over the past few months, climbing from 69th in March 2024 to 44th in June 2024. This upward trend suggests a positive reception and growing market presence. In contrast, The Colorado Cannabis Co. has experienced a decline, dropping from 40th to 47th during the same period, which may indicate challenges in maintaining its market share. Meanwhile, Kaviar has also seen a gradual improvement, moving from 74th to 51st, though it still lags behind Summit (Canada). Seed and Smith (LBW Consulting) and Nuhi have shown mixed results, with Seed and Smith fluctuating but ultimately improving to 40th, and Nuhi stabilizing at 42nd after a significant rise. These shifts highlight Summit (Canada)'s competitive edge and potential for continued growth in the Colorado Flower market.
Notable Products
In June 2024, the top-performing product for Summit (Canada) was Iced Tea Lemonade (10mg THC, 355ml) in the Beverage category, maintaining its number one rank from previous months with sales of 8110 units. Guava Melts (Bulk) in the Flower category surged to second place with notable sales growth, reaching 5617 units. Rocket Berry Carbonated Drink (10mg THC, 355ml) in the Beverage category climbed to third place, showing significant improvement in its ranking from May 2024. Peach Iced Tea (10mg THC, 355ml) entered the top five, securing the fourth position. Peach Lemonade (10mg THC, 355ml) dropped to fifth place, continuing its downward trend from earlier months.
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