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Jun-2024
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Overview
Market Insights Snapshot
Baked Bros has shown a consistent performance in the Arizona market within the Edible category. The brand maintained a steady 4th place ranking from March to May 2024, before climbing to 3rd place in June 2024. This upward movement in ranking indicates a positive trend, despite a gradual decline in monthly sales figures from March to June. The ability to improve its position in the rankings while experiencing a dip in sales showcases the brand's resilience and strong market presence in Arizona.
In contrast, Baked Bros did not appear in the top 30 brands in any other states or provinces for the Edible category during this period. This absence highlights a potential area for growth and expansion beyond its stronghold in Arizona. The brand's performance in Arizona can serve as a benchmark for its strategies in entering and capturing market share in other regions. Monitoring Baked Bros' movements in the coming months will be crucial to understanding whether they can replicate their Arizona success story in other states or if they will continue to focus predominantly on their established market.
Competitive Landscape
In the competitive landscape of the Arizona edible cannabis market, Baked Bros has shown a notable upward trend in recent months. Initially ranked 4th from March to May 2024, Baked Bros climbed to 3rd place in June 2024. This rise in rank is significant given the competitive pressure from established brands like Wyld, which consistently held the top spot, and OGEEZ, which maintained 2nd place throughout the same period. The brand Gron / Grön experienced a decline, dropping from 3rd to 4th place, which coincided with Baked Bros' ascent. Meanwhile, Smokiez Edibles showed a steady improvement, moving from 7th to 5th place. This competitive dynamic suggests that Baked Bros is effectively capturing market share, particularly as Gron / Grön's sales have decreased over time, providing an opportunity for Baked Bros to strengthen its position in the Arizona market.
Notable Products
In June 2024, the top-performing product from Baked Bros was the Sleepy - CBD/THC 2:1 Blackberry Acai x Granddaddy Purple Gummies 10-Pack (200mg CBD, 100mg THC), maintaining its number one rank with a sales figure of $20,087. The Happy - CBD/CBC/THC 1:1:1 Jack Herer Pomegranate Nectarine Gummies 10-Pack (100mg CBD, 100mg CBC, 100mg THC) held steady at the second position, continuing its consistent performance over the past months. Stoney CBG/THC 1:1 OG Kush x Prickly Pear Lemonade Gummies 10-Pack (100mg CBG, 100mg THC) remained in the third spot, although its sales saw a decline. Very Berry Rosin Gummies 10-Pack (100mg) improved its ranking to fourth place from fifth in March and April, while the Arizona Punch Rosin Gummies 10-Pack (100mg) debuted in May and held the fifth position in June. Overall, the rankings of the top products have shown remarkable stability, with only minor shifts in positions and sales figures.
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