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Jun-2024
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Overview
Market Insights Snapshot
Amnesia has shown a notable performance in the Vapor Pens category across different states, with significant movements in rankings. In Michigan, the brand experienced a substantial rise from being ranked 42nd in March 2024 to reaching the 15th position by May 2024. However, there was a slight dip in June 2024, dropping to the 24th spot. This fluctuation indicates a dynamic market presence and suggests that while Amnesia can capture higher positions, maintaining them consistently poses a challenge. The peak in May 2024, where sales soared to over 825,000 units, highlights a period of strong consumer demand and effective market strategies.
It's important to note that in some months, Amnesia did not make it into the top 30 brands in certain states and categories, which could be seen as a setback. For instance, the absence of ranking details for states other than Michigan suggests that Amnesia may not have been as competitive in those markets during this period. This lack of presence could indicate either a strategic focus on specific regions or potential areas for growth and improvement. By analyzing these trends, stakeholders can gain insights into the brand's performance and identify opportunities for expansion or reinforcement in underperforming markets.
Competitive Landscape
In the competitive landscape of vapor pens in Michigan, Amnesia has shown significant fluctuations in its rank over recent months, which can be attributed to dynamic market conditions and competitive pressures. Notably, Amnesia's rank improved dramatically from 42nd in March 2024 to 15th in May 2024, before settling at 24th in June 2024. This surge in rank was accompanied by a substantial increase in sales, peaking in May 2024. However, competitors like Redbud Roots and Gelato have maintained more stable positions within the top 25, indicating consistent consumer preference and possibly more robust brand loyalty. Dragonfly Cannabis also demonstrated a steady performance, hovering around the mid-20s rank, which suggests a resilient market presence. The volatility in Amnesia's ranking highlights the importance of strategic marketing and product differentiation to sustain growth and compete effectively against these established brands.
Notable Products
In June 2024, the top-performing product from Amnesia was Blueberry Pancake Distillate Cartridge (1g) in the Vapor Pens category, maintaining its leading position from May 2024 with notable sales of 4321 units. The second spot was taken by Blue Razz Co2 Cartridge (1g), a new entrant in the rankings. Strawberry Cough Distillate Cartridge (1g) climbed to third place, showing a significant improvement from its fifth position in May 2024. Peaches & Cream Co2 Cartridge (1g) secured the fourth spot, while Lemon Drop Co2 Cartridge (1g) dropped to fifth place from its previous third position. These shifts indicate a dynamic market with new products gaining traction and established ones maintaining strong performance.
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