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Mar-2024
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Overview
Market Insights Snapshot
In the realm of cannabis capsules, the brand 1906 has demonstrated a consistent and impressive performance across several states, maintaining the number one rank from December 2023 to March 2024. Particularly noteworthy is their market presence in Illinois, where they not only held the top position but also saw a significant rebound in sales from February to March 2024, indicating a strong consumer preference and loyalty. Similarly, in Missouri, 1906 experienced a remarkable growth trajectory in capsule sales, doubling from December 2023 to March 2024. This upward trend across multiple states underscores the brand’s dominance and expertise within the capsules category, showcasing their ability to not only attract but also retain a wide consumer base.
However, when examining 1906's performance in the edibles category, a different picture emerges, particularly in the competitive market of Colorado. Here, the brand struggled to break into the top 30 until December 2023 and has since made only marginal progress, inching from rank 31 in December 2023 to rank 28 by March 2024. This slow climb indicates challenges in gaining significant market share within the edibles sector, amidst possibly stiff competition and differing consumer preferences. Conversely, in New York, while the brand did show some fluctuation in edibles rankings, moving from 13th in December 2023 to 18th by March 2024, the slight recovery in sales from February to March suggests a potential for resilience and growth. These contrasting performances across categories and states highlight the complexities of consumer tastes and the competitive landscape 1906 navigates within the cannabis industry.
Competitive Landscape
In the competitive landscape of the cannabis capsule market in Illinois, 1906 has maintained its position as the top brand from December 2023 through March 2024, showcasing its dominance and consistent consumer preference. Despite a slight fluctuation in sales, with a dip in January before recovering in the following months, 1906's sales volume remains significantly higher than its closest competitors, Avexia and Pure Essentials. Avexia, holding the second position, and Pure Essentials, in third, have both experienced sales fluctuations but have not closed the substantial gap with 1906. This consistent lead by 1906 indicates a strong brand loyalty and product preference within the Illinois market. The data suggests that while the competition remains steady in their respective ranks, 1906's innovative approach and product quality keep it well ahead of the curve, making it a pivotal player in the cannabis capsule category.
Notable Products
In March 2024, 1906's top-performing product was the CBD/THC 5:1 Chill Tablets 20-Pack (500mg CBD, 100mg THC), maintaining its number one rank from the previous months with sales figures reaching 20,209 units. Following closely, the CBD/THC 1:1 Bliss Drops 20-Pack (100mg CBD, 100mg THC) secured the second position, showing a rise in its ranking from the third position in January 2024 to second in both February and March 2024. The Boost Drops Mini Pills 20-Pack (100mg) held steady at the third rank across February and March 2024, after a brief rise to the second position in January. The CBD/THC 1:1 Energy Go Drop Tablets 20-Pack (100mg CBD, 100mg THC) consistently held the fourth rank across December 2023 to March 2024. Notably, the CBD/THC 5:1 Chill Discovery Pouch 2-Pack (50mg CBD, 10mg THC) made its way into the rankings in January 2024 and has maintained the fifth position since, indicating a stable consumer interest.
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