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Jun-2024
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Overview
Market Insights Snapshot
Artet has shown a mixed performance across different states and categories over recent months. In California, the brand has maintained a relatively stable position within the beverage category, hovering around the 19th to 22nd rank from March to June 2024. Despite a notable increase in sales from March to April, the subsequent months saw a decline, indicating potential volatility in consumer demand or market competition. It's worth noting that Artet did not drop out of the top 30 brands in California during this period, which can be seen as a positive sign of consistent market presence.
In contrast, Artet's performance in Illinois reflects a slightly different trend. The brand started strong, holding the 6th position in March and April, but experienced a gradual decline to the 10th rank by June 2024. This downward movement, despite relatively stable sales figures, suggests increasing competition within the Illinois beverage market or shifting consumer preferences. The fact that Artet remained within the top 10 brands for most of this period highlights its strong market penetration in Illinois, although the drop in rankings might be a cause for concern if the trend continues.
Competitive Landscape
In the competitive landscape of the Illinois cannabis beverage market, Artet has experienced notable fluctuations in its rank and sales over recent months. Artet maintained a steady 6th position in March and April 2024 but saw a decline to 9th in May and further to 10th in June. This downward trend is significant as it indicates increasing competition and potential challenges in maintaining market share. For instance, CANN Social Tonics also saw a decline in rank, dropping out of the top 20 in June, which might suggest a broader market shift. Meanwhile, Vibations showed a positive trajectory, moving from 11th in April to 8th in June, and Zero Proof remained relatively stable, fluctuating between 5th and 9th positions. These dynamics underscore the competitive pressure on Artet, necessitating strategic adjustments to regain and sustain its market position.
Notable Products
In June 2024, the top-performing product for Artet was the CBD/THC 1:1 Mango Ginger Spritz Sparkling Drink 4-Pack, maintaining its first-place ranking from May and achieving sales of 829 units. The Cannabis Apertif Elixir climbed back to the second position after slipping to third in May, with notable sales of 693 units. The CBD/THC 1:1 Chamomile Lemon Spritz Sparkling Drink 4-Pack held steady in third place, despite a slight dip in sales to 571 units. The CBD/THC 1:1 Strawberry Basil Spritz Sparkling Drink 4-Pack re-entered the rankings at fourth place with 443 units sold. Lastly, the CBD:THC 1:1 Grapefruit Rosemary Seltzer remained consistent in fifth place with 428 units sold, showing a positive sales trend.
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