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Mar-2024
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Overview
Market Insights Snapshot
In the competitive cannabis market of California, ABX / AbsoluteXtracts has shown a notable presence across various categories, with its performance in Capsules and Concentrates standing out. The brand maintained a consistent top 10 ranking in these categories over the recent months, with Capsules consistently ranking in the top 4 and Concentrates experiencing a slight dip from 6th to 9th position from December 2023 to March 2024. This slight decline in Concentrates could signal a need for strategic adjustments to regain lost ground. On the other hand, the Capsules category has shown remarkable stability, indicating strong consumer loyalty and a solid market position. However, it's worth noting a significant sales drop in Concentrates from February to March 2024, which could reflect broader market trends or specific challenges faced by ABX / AbsoluteXtracts.
ABX / AbsoluteXtracts also competes in the Beverage, Edible, Tincture & Sublingual, and Vapor Pens categories, with varying degrees of success. The brand's performance in the Vapor Pens category, for instance, shows it hovering around the 22nd to 25th rank, suggesting there's room for growth and improvement in this highly competitive segment. The Beverage category saw a slight improvement in ranking from 63rd to 53rd, yet the brand did not break into the top 30 in earlier months, highlighting both a challenge and an opportunity for growth. The Edible and Tincture & Sublingual categories show stable rankings but with room for improvement to climb higher in the competitive standings. These insights into ABX / AbsoluteXtracts' performance across different categories in California provide a glimpse into the brand's strengths and areas where there is potential for further market penetration and growth.
Competitive Landscape
In the competitive landscape of the Vapor Pens category in California, ABX / AbsoluteXtracts has experienced a slight decline in its ranking over the recent months, moving from 22nd in December 2023 to 25th by March 2024. This shift indicates a challenging environment for ABX, especially as sales also reflect a downward trend in the same period. Notably, competitors like Punch Extracts / Punch Edibles and Alien Labs have shown resilience and even improvement in their standings, with Punch Extracts / Punch Edibles overtaking ABX in March 2024, moving up to the 24th rank. Alien Labs has also seen a positive trajectory, moving from 27th in December 2023 to 23rd by March 2024. Another competitor, UP!, despite a fluctuating performance, managed to significantly improve its rank to 26th by March 2024, showcasing a notable recovery and closing the gap with ABX. In contrast, PAX has remained relatively stable but still below ABX in the rankings. These dynamics underscore a competitive and shifting market in California's Vapor Pens category, highlighting the need for ABX / AbsoluteXtracts to innovate and adapt to maintain and improve its market position.
Notable Products
In Mar-2024, ABX / AbsoluteXtracts saw Sleepytime- THC:CBN 2:1 Elderberry Gummies 20-Pack (100mg THC, 50mg CBN) leading the sales charts in the Edible category, marking a significant rebound to the top spot with 7316 units sold. Following closely, Strawberry Haze Terp Chews 20-Pack (100mg) claimed the second position within the same category, showcasing its popularity despite not being ranked in the previous two months. Garlic Banana Badder (1g) from the Concentrates category secured the third rank, making its first appearance in the sales ranking for Mar-2024. THC:CBN 2:1 Sleepy Time XL Tincture (500mg THC, 250mg CBN, 15ml) in the Tincture & Sublingual category and THC Soft Gels 10-Pack (1000mg) from Capsules rounded out the top five, both marking their debut in the monthly sales rankings. This shift in rankings indicates a dynamic market preference, with newcomers and returning products dominating the sales chart.
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