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Jun-2024
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Overview
Market Insights Snapshot
Avexia has shown a consistent performance in the Illinois market, particularly in the Topical and Capsules categories. The brand has maintained its top position in the Topical category for four consecutive months, reflecting strong consumer demand and brand loyalty. In the Capsules category, Avexia has also held steady at the second rank, indicating a solid presence. However, in the Concentrates category, the brand's performance has been more volatile, with rankings fluctuating between 16th and 21st position over the same period. This inconsistency in Concentrates may suggest a need for strategic adjustments or increased marketing efforts to capture a larger market share.
In Massachusetts, Avexia's presence is less stable. The brand appeared in the Concentrates category at the 30th position in March but did not maintain a top 30 ranking in subsequent months, which is a negative indicator of its market penetration in this category. Conversely, in the Topical category, Avexia achieved a notable 4th rank in April, although it did not make the top 30 in other months, suggesting potential but inconsistent performance. In Maryland, Avexia has shown a strong and improving trend in the Capsules category, climbing from 5th to 2nd place from April to June. Additionally, the brand has consistently held the top position in the Topical category, underscoring its dominance and consumer preference in this segment.
Competitive Landscape
In the Illinois Topical cannabis category, Avexia has consistently maintained its top rank from March to June 2024, indicating strong brand loyalty and market presence. Despite fluctuations in monthly sales, Avexia's dominance is evident when compared to its closest competitors. Doctor Solomon's has held the second position throughout the same period, but its sales figures are significantly lower, ranging from approximately $131,889 to $147,273. Meanwhile, Nature's Grace and Wellness emerged in June 2024 at the third rank, suggesting a recent surge in popularity. This competitive landscape highlights Avexia's robust market strategy and product appeal, which have kept it ahead of emerging and established brands alike.
Notable Products
In June 2024, the top-performing product for Avexia remained the CBD/THC 1:1 Harmony Pain Relief Balm (100mg CBD, 100mg THC, 2oz) in the Topical category, with sales reaching $12,509. The CBD/THC 4:1 Relief Tablets 40-Pack (400mg CBD, 100mg THC) held steady in second place within the Capsules category. The CBN/CBD/THC 1:1:1 Comfort Tablets 40-Pack (100mg CBN, 100mg CBD, 100mg THC) consistently ranked third, also in the Capsules category. The CBD/THC 1:1 Harmony Micro-Dosed Tablets 40-Pack (100mg CBD,100mg THC) maintained its fourth position in the Capsules category. Notably, the CBG/THC 1:1 Balance Tablets 40-Pack (100mg CBG, 100mg THC) continued to rank fifth, showing gradual sales growth over the months.
Top Selling Cannabis Brands
