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Jun-2024
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Overview
Market Insights Snapshot
Canna Clinicals has shown a consistent performance in the Tincture & Sublingual category, particularly in New York. The brand started off strong in March 2024 with a rank of 6th, and although it saw a slight dip to 7th in April, it quickly rebounded to 5th place in both May and June. This indicates a positive trend and growing consumer acceptance in this category. The sales figures also reflect this upward movement, with a notable increase from March to May, peaking at 22,244 units sold in May before a slight decline in June.
However, it is important to note that Canna Clinicals did not appear in the top 30 brands for any other states or categories during the same period. This absence can be seen as a missed opportunity for the brand to expand its market presence beyond New York. While their performance in New York is commendable, diversifying their reach could provide a buffer against market fluctuations and enhance overall brand visibility. The data suggests that while they are strong in one specific area, there is potential for growth in other states and product categories.
Competitive Landscape
In the competitive landscape of the Tincture & Sublingual category in New York, Canna Clinicals has shown notable fluctuations in rank and sales over the past few months. Starting from a 6th place rank in March 2024, Canna Clinicals experienced a dip to 7th in April but rebounded to 5th place in May and maintained this position in June. This recovery in rank is significant, especially when compared to consistent top performers like Jumbodose, which has held the 3rd position consistently, and OMO - Open Minded Organics, which remained 4th throughout the same period. Meanwhile, Veterans Choice Creations (VCC) and Harney Brothers Cannabis have seen more volatility, with VCC dropping out of the top 20 in March and Harney Brothers slipping from 5th to 8th by June. The sales figures for Canna Clinicals also reflect this dynamic, with a significant increase from April to May, followed by a slight decline in June. These shifts suggest that while Canna Clinicals is gaining traction, it faces stiff competition from established brands, and maintaining or improving its rank will require strategic marketing and product differentiation.
Notable Products
In June 2024, the top-performing product from Canna Clinicals was the CBD/THC 1:10 Max Strength Tincture (100mg CBD, 1000mg THC, 30ml), maintaining its first-place rank for four consecutive months with a notable sales figure of 207 units. The Max Strength Capsules 10-Pack (100mg CBD, 100mg THC) secured the second spot, improving from third place in the previous two months. The CBD/THC Balance Tincture (100mg CBD, 500mg THC) dropped to third place after holding the second position in April and May. The CBD/THC/CBN 1:1:1 Sleep Complex Capsules 20-Pack (100mg CBD, 100mg THC, 100mg CBN) remained consistently in fourth place throughout the four months. The CBD/THC Unwind Tincture (1050mg CBD, 90mg THC, 15ml) was not ranked in June, after being fifth in the preceding three months.
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