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Jun-2024
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Overview
Market Insights Snapshot
Tweed has demonstrated a varied performance across different categories and provinces. In Alberta, the brand's Flower category saw fluctuations, moving from rank 22 in March to 20 in June, with a noticeable increase in sales from March to April. However, its Pre-Roll category in Alberta experienced a decline, dropping from rank 10 in March to 18 by June. On a more positive note, Tweed's Oil category in Alberta maintained a strong and consistent performance, holding steady at rank 3 from April to June, showcasing a steady increase in sales. This indicates a strong consumer preference for Tweed's oil products in this province.
In Ontario, Tweed's Flower category showed a consistent upward trend, improving from rank 13 in March to 14 in June, coupled with increasing sales. Conversely, its Beverage category did not make it to the top 30 in June, highlighting a potential area for improvement. The Capsules category in Ontario remained stable at rank 2 throughout the months, indicating a solid market presence. Meanwhile, in Saskatchewan, Tweed's performance in the Flower category was notable, achieving rank 1 in May and maintaining a strong position at rank 2 by June. However, the Pre-Roll category faced challenges, with the brand not ranking in the top 30 in April but rebounding to rank 5 by June. This variation across categories and provinces underscores the dynamic nature of Tweed's market performance.
Competitive Landscape
In the competitive landscape of the Flower category in Ontario, Tweed has experienced notable fluctuations in its ranking and sales over recent months. Tweed's rank has hovered between 13th and 15th place from March to June 2024, indicating a relatively stable but mid-tier position. In contrast, FIGR has shown a more dynamic movement, climbing from 18th to 15th place before settling at 16th, suggesting a competitive edge that could challenge Tweed's market share. Meanwhile, Big Bag O' Buds has seen a slight decline from 11th to 15th place, which may present an opportunity for Tweed to capitalize on shifting consumer preferences. The Loud Plug consistently outperforms Tweed, maintaining a top 12 position, which underscores the competitive pressure in the premium segment. Interestingly, Pepe has made a significant leap from outside the top 20 to 13th place, mirroring Tweed's rank and indicating emerging competition. These dynamics suggest that while Tweed maintains a steady presence, it faces increasing competition from both established and emerging brands, necessitating strategic adjustments to sustain and improve its market position.
Notable Products
In June 2024, the top-performing product for Tweed was Quickies - Kush Mints Pre-Roll 10-Pack (3.5g), maintaining its rank at number one for four consecutive months with sales of 15,121 units. Following closely, Quickies - Chemsicle Pre-Roll 10-Pack (3.5g) also held its consistent second position. Penelope Softgels 15-Pack (105mg CBD, 150mg THC) rose to third place, improving from its fourth position in April and May. Strawberry Lemonade Sparkling Beverage (7.5mg THC, 355ml) moved up to fourth place from fifth in May. Kush Mints (28g) debuted in June at the fifth position, indicating strong performance in its initial month.
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