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Jun-2024
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Overview
Market Insights Snapshot
The performance of 1906 in the Capsules category has been consistently strong across multiple states. In Colorado, Illinois, Massachusetts, Missouri, and New York, 1906 has maintained the top rank from March to June 2024. This consistency highlights the brand's strong market presence and consumer preference in these states. However, in Michigan, 1906 only appeared in the rankings for March 2024, indicating that it did not sustain its position in the top 30 brands in subsequent months. This could be a point of concern for the brand's market penetration and competitive strategy in Michigan.
In the Edible category, 1906's performance in New York shows some variability. The brand ranked 14th in April 2024, dropped to 18th in May 2024, and then climbed back to 14th in June 2024. This fluctuation suggests a less stable market position compared to their dominance in the Capsules category. The absence of rankings in other states for the Edible category indicates that 1906 is not yet a significant player in this segment outside of New York. Monitoring these trends can provide insights into the brand's growth opportunities and areas that might need strategic adjustments.
Competitive Landscape
In the Illinois capsules category, 1906 has consistently maintained the top rank from March to June 2024, showcasing its strong market presence and customer loyalty. Despite a gradual decline in sales over these months, 1906's position remains unchallenged, indicating a robust brand strength. In comparison, Avexia and Pure Essentials have held steady at the second and third ranks, respectively, without any significant movement in their positions. However, their sales figures are substantially lower than those of 1906, highlighting a significant competitive gap. This stability in ranking suggests that while 1906's sales are experiencing a downward trend, its competitors are not gaining enough traction to threaten its leading position in the Illinois market.
Notable Products
In June 2024, the top-performing product for 1906 was Boost Drops Mini Pills 20-Pack (100mg), maintaining its first-place ranking from May despite a sales dip to $15,091. The CBD/THC 5:1 Chill Tablets 20-Pack (500mg CBD, 100mg THC) ranked second, a slight improvement from its third-place position in May. CBD/THC 1:1 Bliss Drops 20-Pack (100mg CBD, 100mg THC) dropped to third place from second. The CBD/THC 1:1 Go Drop Tablets 20-Pack (100mg CBD, 100mg THC) held steady in fourth place. The CBD/THC 1:1 Love Drops 30-Pack (75mg CBD, 75mg THC) rounded out the top five, maintaining its fifth-place ranking from May.
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