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Apr-2024
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Overview
Market Insights Snapshot
In the competitive cannabis beverage category, Artet has shown a consistent and promising performance across different states, with a particular focus on California and Illinois. In California, Artet's ranking within the top 30 brands has seen a slight but steady improvement from January to April 2024, moving from 22nd to 20th position. This upward trend, despite the fluctuating sales figures, indicates a growing consumer preference and market share in a state known for its significant cannabis market. The increase in April to 49,821 in sales from 33,698 in March suggests a robust recovery and potential for further growth. However, the fact that Artet has not broken into the top 15 yet might suggest room for improvement or increased competition within the category.
On the other hand, Artet's performance in Illinois has been notably stronger, consistently holding a position within the top 10 from January to April 2024. The brand improved its ranking from 6th to 5th place over these months, which is an impressive feat in a rapidly growing market. This consistent top-tier ranking, coupled with a significant increase in sales from 31,898 in February to 56,896 in April, underscores Artet's strong market presence and consumer acceptance in Illinois. The stability in its ranking, despite the competitive landscape, highlights Artet's success in maintaining its brand appeal and possibly its effective marketing strategies or product quality. This strong performance in Illinois, compared to the gradual climb in California, may reflect different market dynamics or consumer preferences between the two states.
Competitive Landscape
In the competitive landscape of the beverage category in Illinois, Artet has shown a notable upward trajectory in its ranking, moving from the 6th position in the first quarter of 2024 to the 5th by April. This shift indicates a positive trend in its market presence, contrasting with the static positions of its competitors like CQ (Cannabis Quencher), which consistently held the 3rd rank, and Spring Lake Craft Infusions, maintaining the 4th spot throughout the same period. Artet's sales have also shown an upward trend, with a significant increase from January to April, suggesting a growing consumer preference. This is in stark contrast to Zero Proof, which experienced a slight decline, moving from 5th to 6th rank, and Señorita, which despite improving its rank from 8th to 7th, still trails behind Artet in terms of market position. The data suggests that while Artet is not leading the market, its consistent rank improvement and sales growth position it as a strong competitor with a promising trajectory in the Illinois beverage category.
Notable Products
In April 2024, Artet's top-performing product was the CBD/THC 1:1 Mango Ginger Spritz Sparking Drink 4-Pack (20mg CBD, 20mg THC, 8oz), leading the sales chart with a significant leap to 1807 units sold. Following closely, the Cannabis Apertif Elixir (37.5mg THC, 750ml) secured the second position, maintaining its rank from March 2024. The third spot was held by the CBD/THC 1:1 Chamomile Lemon Spritz Sparkling Drink 4-Pack (20mg CBD, 20mg THC), which also retained its position from the previous month. The CBD/THC 1:1 Strawberry Basil Spritz Sparkling Drink 4-Pack (20mg CBD, 20mg THC, 237ml, 8oz) showed improvement, moving up to the fourth rank in April from fifth in March. Interestingly, a new entrant in April, the CBD/THC 1:1 Mango Ginger Spritz Sparking Drink (5mg CBD, 5mg THC, 8oz), captured the fifth spot, indicating a growing interest in lower-dose options among consumers.
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