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Jun-2024
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Overview
Market Insights Snapshot
Bailey's Buds has shown a mixed performance across different categories and states over the past few months. In the Flower category in Massachusetts, the brand has struggled to break into the top 30, with rankings of 43rd in March 2024 and 50th in both May and June 2024. This consistent ranking outside the top 30 indicates a need for strategic improvements or market repositioning to boost their presence in this category. On the other hand, the sales figures have been on a downward trend, dropping from $345,772 in March to $233,602 in June, reflecting a significant decline in market traction.
Conversely, Bailey's Buds has demonstrated more stability and success in the Pre-Roll category within Massachusetts. The brand maintained a top 12 ranking from March through June 2024, peaking at 9th place in March. Despite a slight dip to 12th place by May and June, the brand has shown resilience in this category. Notably, sales in this segment have been robust, with an upward trend reaching a high of $499,454 in June. This performance suggests a strong market demand and effective positioning in the Pre-Roll category, contrasting sharply with their struggles in the Flower segment.
Competitive Landscape
In the competitive landscape of the Massachusetts pre-roll category, Bailey's Buds has shown a consistent performance, maintaining a rank between 9th and 12th place from March to June 2024. This stability is notable, especially when compared to competitors like Smyth Cannabis Co., which has also shown consistent ranks but slightly higher, ranging from 11th to 14th place. Meanwhile, Green Gold Group has seen a slight decline, dropping from 10th to 13th place over the same period. Interestingly, Bountiful Farms has made a significant leap from 46th to 10th place, indicating a strong upward trend that could pose a future threat to Bailey's Buds' market position. Additionally, Perpetual Harvest has shown a notable improvement, moving from 20th to 14th place. These shifts highlight the dynamic nature of the market and underscore the importance for Bailey's Buds to continue innovating and optimizing their offerings to maintain and potentially improve their market position.
Notable Products
In June 2024, the top-performing product from Bailey's Buds was Blue Dream x Sour Jack Pre-Roll 5-Pack (2.5g), maintaining its number one rank for four consecutive months with sales reaching 4136 units. Liberty Haze Pre-Roll 5-Pack (2.5g) held steady at the second position, consistent with its rankings from previous months. Blue Dream x Sour Jack (3.5g) remained in the third spot, showing a slight dip in sales compared to May. The Variety Pack Pre-Roll 5-Pack (2.5g) continued to perform well, retaining its fourth position from May. Liberty Haze (3.5g) also showed stability, maintaining its fifth rank from the previous month.
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