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Jun-2024
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Overview
Market Insights Snapshot
Alchemy (Ieso) has shown significant performance variations across different product categories and states. In Illinois, the brand has demonstrated a notable presence in the Concentrates category, moving from the 12th rank in March 2024 to the 6th rank by May 2024, before slightly dropping to the 7th rank in June 2024. This upward trajectory, especially the leap to 6th place, indicates strong consumer demand and effective market penetration. In terms of sales, the brand saw a peak in May 2024 with $457,403, which underscores the impact of their strategic initiatives in the state. However, it is worth noting that Alchemy (Ieso) did not rank in the top 30 brands in some months for other categories, which might suggest areas for potential growth or market challenges.
In the Vapor Pens category in Illinois, Alchemy (Ieso) has shown a gradual improvement, moving from outside the top 30 in March 2024 to the 39th rank by June 2024. Although not yet within the top 30, this positive trend indicates a growing market presence and increasing consumer acceptance. The sales figures reflect this growth, with a steady increase culminating in $142,982 in June 2024. This incremental progress could suggest that the brand's efforts in product development and marketing are beginning to pay off, albeit at a slower pace compared to their performance in the Concentrates category. The absence of top 30 rankings in previous months highlights the competitive nature of the Vapor Pens market and the challenges Alchemy (Ieso) faces in establishing a stronger foothold.
Competitive Landscape
In the competitive landscape of the Illinois concentrates market, Alchemy (Ieso) has shown significant fluctuations in rank and sales over the past few months. Starting from a rank of 12 in March 2024, Alchemy (Ieso) experienced a dip to 13 in April, followed by a remarkable surge to 6 in May, before slightly declining to 7 in June. This volatility contrasts with the more consistent performance of competitors such as Nature's Grace and Wellness, which maintained a relatively stable ranking, peaking at 6 in June. Similarly, Cresco Labs showed steady improvement, moving from 11 in March to 9 in June. Meanwhile, pts: PURE saw a dramatic rise to 3 in April but fell to 10 by June, indicating potential volatility. Lula's maintained a strong presence, consistently ranking in the top 10, peaking at 4 in June. These insights suggest that while Alchemy (Ieso) has the potential for rapid growth, it faces stiff competition and must strive for consistency to secure a more stable position in the market.
Notable Products
In June 2024, the top-performing product for Alchemy (Ieso) was Jet Fuel Cured Budder (1g) in the Concentrates category, maintaining its first-place ranking from May 2024 with sales of $2,301. Monkey Business Cured Resin (1g), also in the Concentrates category, moved up to second place from an unranked position in May, achieving sales of $1,641. Blue Dream Live Resin Cartridge (0.5g) and Cherry Pie Live Resin Cartridge (0.5g), both in the Vapor Pens category, secured the third and fourth positions, respectively. Chemdawg Cured Resin (1g) in the Concentrates category completed the top five. Notably, Jet Fuel Cured Budder (1g) has consistently held the top spot since it appeared in the rankings.
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