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Jun-2024
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Overview
Market Insights Snapshot
Vacay has shown notable performance across various categories and provinces, demonstrating a consistent presence in the beverage market. In Alberta, Vacay's beverage category maintained a strong position, ranking 12th in March and May, and 11th in April and June. This consistency is reflected in their sales figures, which saw a steady increase from $30,095 in March to $33,649 in June. However, their edible category in Alberta saw a drop-off after March, indicating they did not rank in the top 30 for subsequent months, which could be a point of concern. Conversely, in British Columbia, Vacay's edible products have shown impressive growth, maintaining a top 15 ranking consistently from March through June, with sales peaking at $40,612 in June.
In Ontario, Vacay's beverage category also performed well, ranking consistently around the 12th to 14th positions from March to June, and seeing a significant sales increase, peaking at $107,509 in May. Their edible category in Ontario showed stable performance with a slight improvement, maintaining 24th to 25th positions throughout the months. However, the vapor pens category in Ontario presents a mixed bag; while they entered the top 100 in April and June, they did not rank in the top 30 for any month, which suggests a potential area for growth or re-evaluation. In British Columbia, their flower category saw a decline, dropping out of the top 30 in June after being ranked 76th in April, indicating a need for strategic adjustments in that segment.
Competitive Landscape
In the competitive landscape of the Ontario cannabis beverage market, Vacay has shown a relatively stable performance but faces stiff competition from several notable brands. Over the past four months, Vacay's rank has fluctuated between 12th and 14th, with a slight dip in April before recovering to 12th in June. This indicates a competitive but consistent position in the market. In contrast, Solei has demonstrated a more upward trajectory, climbing from 13th to 10th place, which suggests a stronger growth momentum. Meanwhile, Green Monke made a significant leap from 16th to 11th, reflecting a rapid increase in market share. Another competitor, TeaPot, entered the top 20 in April and quickly ascended to 13th by June, showcasing a rising trend that could pose a future threat to Vacay. Lastly, Señorita has shown steady improvement, moving from 18th to 15th place. These dynamics highlight the competitive pressures Vacay faces and underscore the importance of strategic marketing and product differentiation to maintain and improve its market position.
Notable Products
In June 2024, Vacay's top-performing product was Peanut Butter Chocolate Cup (10mg), maintaining its first-place ranking for four consecutive months with sales reaching 10,108 units. The CBD:THC:CBG 3:1:1 Strawberry Pineapple Tropical Soda (7.5mg CBD, 2.5mg THC, 355ml) held steady in second place, showing a consistent improvement in sales figures from previous months. The CBD:THC 1:1 Island Punch Soda (10mg CBD, 10mg THC) also remained in third place, with sales increasing to 7,905 units. Sparkling Pink Lemonade (10mg THC, 355ml) continued to secure the fourth spot, despite a slight dip in sales compared to May. Notably, Pecan Cluster Chocolate Caramel (10mg) re-entered the rankings in fifth place, after being unlisted in April and May.
Top Selling Cannabis Brands
