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Jun-2024
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Overview
Market Insights Snapshot
Ancient Roots has shown varied performance across different categories and states. In Ohio, the brand has maintained a presence in the Concentrates category, albeit with some fluctuations. Starting at rank 21 in March 2024, they dropped to rank 25 in April, further slid to rank 29 in May, and then slightly recovered to rank 27 in June. This downward trend, followed by a minor recovery, suggests a need for strategic adjustments to regain a stronger foothold in the market. Notably, the sales figures reflect a significant decline from March to May, with a slight uptick in June, indicating potential seasonal or market-specific factors affecting their performance.
In the Flower category in Ohio, Ancient Roots did not make it into the top 30 brands in March 2024, highlighting a challenge in this segment. They entered the rankings at position 52 in April and maintained this rank through May, but did not rank again in June. This stagnation and lack of ranking in other months could be seen as a concern, suggesting that the brand is struggling to compete effectively in the Flower category. The consistency in sales figures from April to May, despite not ranking in June, indicates that while there is some demand, it is not strong enough to propel them into a competitive position.
Competitive Landscape
In the Ohio concentrates market, Ancient Roots has experienced notable fluctuations in its ranking and sales over recent months. From March to June 2024, Ancient Roots saw a decline from 21st to 27th place, indicating a challenging competitive landscape. This downward trend contrasts with the performance of brands like Garden Society, which improved its rank from outside the top 20 to 21st place in April before settling at 25th in June. Similarly, Superflux maintained a relatively stable position, fluctuating between 20th and 24th place, while Buckeye Relief consistently outperformed, staying within the top 15. The competitive pressure is evident as Ancient Roots' sales dropped significantly from $27,142 in March to $12,718 in June, whereas competitors like Pure Ohio Wellness showed more stable sales figures. These insights highlight the need for Ancient Roots to reassess its market strategies to regain its competitive edge.
Notable Products
In June 2024, the top-performing product from Ancient Roots was Multi Strain Kief (1g), maintaining its first-place ranking from the previous two months with notable sales of $376. Lemon Kush #2 (2.83g) held steady at the second position, showing significant growth from its debut in May. Haley's Comet Hashtroids Bubble Hash (1g) climbed to the third spot, improving from fourth place in May. New to the top five, Fuji Apple Live Rosin Gummies 10-Pack (110mg) secured the fourth position, while Hash Burger Kief (4g) entered the ranking at fifth place. These shifts indicate a dynamic market with increasing consumer interest in both concentrates and edibles.
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