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Jun-2024
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Overview
Market Insights Snapshot
Zest Cannabis has shown varied performance across different categories and states/provinces over the recent months. In Alberta, the brand's Pre-Roll category has struggled to make a significant impact, consistently ranking outside the top 30, with a slight decline in sales from March to May 2024. Conversely, their Vapor Pens category has seen a downward trend in rankings, dropping from 38th in March to 49th in June 2024, accompanied by a notable decrease in sales over the same period. This suggests a need for strategic adjustments in Alberta to regain market share, particularly in the Vapor Pens category.
In contrast, Ontario has presented a mixed bag for Zest Cannabis. While their Pre-Roll category has not ranked in the top 30 since April, their Vapor Pens have maintained a relatively strong presence, although they slipped from 19th in March and April to 31st by June 2024. Sales data for Vapor Pens in Ontario indicates a sharp decline, which could be a cause for concern. Meanwhile, in Saskatchewan, Zest Cannabis has seen a remarkable improvement in the Pre-Roll category, jumping from outside the top 30 to 22nd in June 2024. The Vapor Pens category has been more stable, consistently ranking within the top 20, although there was a slight dip in June. These trends highlight the brand's need to focus on sustaining its gains in Saskatchewan while addressing the challenges faced in Ontario and Alberta.
Competitive Landscape
In the competitive landscape of Vapor Pens in Ontario, Zest Cannabis has experienced notable fluctuations in its rank and sales over the past few months. Starting from a strong position at rank 19 in March 2024, Zest Cannabis maintained its rank in April but saw a decline to rank 24 in May and further to rank 31 in June. This downward trend in rank is accompanied by a significant drop in sales, from a peak in April to a much lower figure by June. In contrast, competitors like RAD (Really Awesome Dope) and Vortex Cannabis Inc. have shown an upward trajectory, with RAD moving from rank 43 in March to 29 in June and Vortex Cannabis Inc. improving from rank 40 to 32 over the same period. Potluck, although experiencing a slight decline, maintained a relatively stable position around the low 30s. Juicy Hoots also showed improvement, climbing from rank 37 in March to 30 in June. These trends suggest that while Zest Cannabis started strong, it faces increasing competition and may need to reassess its strategies to regain its market position in the Ontario Vapor Pens category.
Notable Products
In June 2024, the top-performing product from Zest Cannabis was the Pink Lemon Liquid Diamond Cartridge (1g) in the Vapor Pens category, maintaining its number one ranking from the previous month with sales of 2713 units. Following closely was the Cherry Blast Shatter Liquid Diamond Cartridge (1g), also in Vapor Pens, which held the second position consistently from May 2024 with 2276 units sold. The Kush Berry Diamond Shatter Infused Pre-Roll 3-Pack (1.5g) made a notable entry at the third spot in the Pre-Roll category. The Melon Haze Live Resin Diamond Infused Pre-Roll 3-Pack (1.5g) dropped from third to fourth place, showing a significant decline in sales to 783 units. Lastly, the Tangerine OG Live Resin Liquid Diamond Cartridge (1g) debuted at the fifth position in the Vapor Pens category.
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