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Jun-2024
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Overview
Market Insights Snapshot
Care By Design has shown varied performance across different categories in California. In the Capsules category, the brand maintained a steady 10th place ranking from March through May 2024, but experienced a slight drop to 11th place in June 2024. This indicates a minor decrease in market share within this category. Conversely, in the Tincture & Sublingual category, Care By Design consistently held the 2nd place ranking from March to June 2024, demonstrating strong and stable performance. However, their presence in the Vapor Pens category saw a downward trend, starting at the 80th position in March and falling to 91st by June, which could be a cause for concern regarding their competitive standing in this segment.
In the Edible category, Care By Design showed improvement, moving from 60th place in March to 49th place by May and maintaining that position in June 2024. This upward movement suggests growing consumer acceptance and market penetration in this category. On the other hand, the brand's performance in the Topical category remained stable at the 7th position throughout the four months, indicating consistent demand and a solid market position. Notably, Care By Design did not rank within the top 30 brands in some categories, which highlights areas where the brand could potentially improve its market strategy to enhance visibility and sales.
Competitive Landscape
In the competitive landscape of the Tincture & Sublingual category in California, Care By Design has consistently maintained its position as the second-ranked brand from March to June 2024. Despite this stability, it faces strong competition from Papa & Barkley, which holds the top rank and has shown a downward trend in sales, potentially indicating a slight weakening in its market dominance. Meanwhile, Yummi Karma remains steadfast in the third position, with a gradual decline in sales, suggesting a potential opportunity for Care By Design to further solidify its market share. Additionally, VET CBD has shown consistent performance in the fourth position, with a notable increase in sales in June 2024, which could pose a future threat if this upward trend continues. Overall, Care By Design's stable ranking amidst fluctuating sales figures of its competitors highlights its strong market presence, but also underscores the need for strategic initiatives to capitalize on the shifting dynamics within the California market.
Notable Products
In June 2024, the top-performing product for Care By Design was the CBD/THC 1:1 Peppermint MAX Drops (1000mg CBD, 1000mg THC, 15ml, 0.5 fl oz) with sales of $2204, maintaining its first-place ranking for four consecutive months. The CBD/THC 40:1 Full Spectrum Refresh Drops (480mg CBD, 12mg THC, 15ml) held steady at the second position, consistent with its ranking since March 2024. The CBD/THC 1:1 Refresh Full Spectrum Sublingual Tincture (240mg CBD, 60mg CBDA, 240mg THC, 60mg THCA, 15ml) remained in third place for June, showing a gradual rise from fifth place in March. New to the top five, the CBD/THC 1:1 Raspberry Gummies 20-Pack (100mg CBD, 100mg THC) debuted at fourth place. Additionally, the CBD/THC 18:1 Refresh Sublingual Tincture (300mg CBD, 15mg THC, 15ml) entered the rankings in June, securing the fifth position.
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