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Jun-2024
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Overview
Market Insights Snapshot
CANN Social Tonics has shown a consistent performance in the Beverage category across various states, with notable stability in California where it maintained a steady rank of 3rd place from March to June 2024. Despite a slight dip in sales in May, the brand rebounded in June, indicating a resilient market presence. In Massachusetts, CANN Social Tonics also demonstrated a strong foothold, consistently ranking 5th until June when it slightly dropped to 6th. The upward trend in sales figures in Massachusetts suggests a growing acceptance and popularity of the brand in this region.
In contrast, the performance in Illinois presents a more varied picture. CANN Social Tonics saw a gradual decline in rankings from 8th in March to 11th in May, before falling out of the top 30 by June. This indicates potential challenges in maintaining market share in Illinois, possibly due to increased competition or shifting consumer preferences. The absence from the top 30 in June is a notable concern and highlights the need for strategic adjustments to regain momentum in this state.
Competitive Landscape
In the competitive landscape of the California cannabis beverage market, CANN Social Tonics consistently holds a strong position, maintaining the 3rd rank from March to June 2024. This stability in rank indicates a solid consumer base and effective market strategies. However, the brand faces stiff competition from St Ides and Uncle Arnie's, which have consistently occupied the 1st and 2nd ranks, respectively. Notably, St Ides leads the market by a significant margin, while Uncle Arnie's also shows strong sales figures. Meanwhile, Manzanita Naturals and Pabst Labs have shown fluctuations in their rankings, indicating potential volatility in their market positions. Despite the fierce competition, CANN Social Tonics' consistent rank suggests a robust brand presence, though there is room for growth to challenge the top two competitors.
Notable Products
In June 2024, the top-performing product for CANN Social Tonics was the CBD/THC 2:1 Lemon Lavender Social Tonic 6-Pack (24mg CBD, 12mg THC), maintaining its first-place ranking with sales of $5,273. The CBD/THC 2:1 Blood Orange Cardamom Social Tonic 6-Pack (24mg CBD, 12mg THC) held steady in second place. The Hi Boy - Blood Orange Cardamom Social Tonic 4-Pack (20mg THC, 48oz, 1420ml) remained in third place, consistent with its May ranking. The Hi Boy - Lemon Lavender Social Tonic 4-Pack (20mg THC, 1420ml) also retained its fourth-place position. Notably, the Hi Boys - Lemon Lavender Social Tonic (5mg THC, 355ml, 12oz) entered the rankings at fifth place, showing a new entry for June.
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