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Jun-2024
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Overview
Market Insights Snapshot
Versus has shown a notable performance across various categories in multiple states and provinces, with some significant movements in rankings. In Alberta, Versus made a strong impression in the Beverage category, climbing to the 2nd position by June 2024. However, the brand's Flower category ranking saw a decline from 6th in March to 11th by June. In the Pre-Roll category, Versus barely held onto a top-30 position, dropping from 17th in March to 30th in June, which may indicate a struggle in maintaining market share in this segment. The Vapor Pens category also saw a concerning trend as Versus fell out of the top 30 by June after being ranked 21st in March.
In Ontario, Versus maintained a consistent 2nd place ranking in the Beverage category from March to June 2024, showcasing strong consumer preference. The Flower category in Ontario also saw positive movement, with Versus improving its rank from 12th in March to 10th in June. However, the Pre-Roll category presented challenges as Versus did not make it into the top 30, indicating potential areas for growth or reevaluation. In British Columbia, Versus experienced consistent performance in the Beverage category, holding steady at 4th place in both May and June. The Flower category saw a slight dip from 10th to 13th from May to June, while the Vapor Pens category experienced a gradual decline from 13th in March to 16th in June.
Competitive Landscape
In the competitive landscape of the Flower category in Ontario, Versus has shown notable resilience and upward mobility. Over the past four months, Versus has consistently improved its rank, moving from 12th place in March 2024 to 10th place by June 2024. This upward trend is indicative of increasing consumer preference and market penetration. In contrast, Redecan has experienced a slight decline, dropping from 9th to 11th place over the same period. Similarly, The Loud Plug has seen a decline from 7th to 12th place. Meanwhile, Back Forty / Back 40 Cannabis and MTL Cannabis have both improved their standings, with MTL Cannabis making a significant leap from 14th to 8th place. These shifts suggest a dynamic market where Versus is gaining traction, potentially at the expense of some established brands, and positioning itself as a strong contender in the Ontario Flower market.
Notable Products
In June 2024, the top-performing product from Versus was CBD/THC 1:1 Neon Rush Carbonated Soda (10mg CBD, 10mg THC, 355ml), maintaining its first-place ranking with notable sales of 48,998 units. Key Lime Rapid Seltzer (10mg THC, 355ml) climbed to the second spot, showing a steady increase from fourth place in March to second place in June. Black Cherry Rapid Seltzer (10mg THC, 355ml) held the third position, slightly down from its consistent second-place ranking in previous months. Neon Rush- Cali Blast Soda (10mg) remained in fourth place, showing marginal sales growth. Blueberry Pomegranate Rapid Seltzer (10mg THC, 350ml) consistently ranked fifth throughout the months, with stable sales figures.
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