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Jun-2024
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Overview
Market Insights Snapshot
CBD Wellness has shown notable performance in the Arizona market, particularly in the Tincture & Sublingual category. The brand maintained a strong presence with a consistent ranking of 2nd place in both March and April 2024, before experiencing a drop to 4th place in May 2024. By June 2024, CBD Wellness fell out of the top 30 brands in this category, indicating a significant decline in market position. This downward trend is echoed in their monthly sales figures, which saw a substantial decrease from $27,210 in March to just $10,203 in May. Such fluctuations highlight the competitive nature of the Tincture & Sublingual market in Arizona and suggest potential areas for strategic improvement.
In the Topical category, CBD Wellness has demonstrated more stability within the Arizona market. The brand consistently held the 7th position from March through May 2024, showcasing a steady performance. However, similar to the Tincture & Sublingual category, CBD Wellness did not appear in the top 30 brands in June 2024 for Topicals, which could indicate a broader issue affecting their market presence. Despite this, the sales figures for Topicals have been relatively stable, with a slight increase from $21,195 in March to $22,695 in April, followed by a minor dip to $21,814 in May. These trends suggest that while CBD Wellness has a foothold in the Topical market, there is room for growth and potential challenges to address in maintaining their ranking.
Competitive Landscape
In the Arizona Tincture & Sublingual category, CBD Wellness has experienced notable fluctuations in its competitive standing over recent months. Despite maintaining a strong second-place rank in March and April 2024, CBD Wellness dropped to fourth place by May 2024 and was not in the top 20 brands by June 2024. This decline is particularly significant when compared to Chronic Health, which consistently improved its position, moving from third place in March and April to second place in May and June 2024. Additionally, Drip Oils + Extracts has maintained a dominant first-place rank throughout this period, indicating a strong and stable market presence. These shifts suggest that while CBD Wellness initially held a competitive position, it has faced challenges in sustaining its rank and sales, potentially due to increased competition and market dynamics. For a more detailed analysis and strategic insights, advanced data can provide deeper understanding and actionable recommendations.
Notable Products
In June 2024, the top-performing product from CBD Wellness was CBC Rich Tincture (1000mg CBC), which climbed to the first rank with notable sales of 94 units. CBD Panther (3.5g) secured the second position, marking its debut in the top rankings. CBD Eucalyptus Bath Soak (100mg CBD) achieved the third rank, also appearing for the first time. CBN Whole Plant FSE Tincture (1000mg CBN) maintained a steady presence, ranking fourth, though it experienced a significant drop in sales from March. Lastly, CBD Eucalyptus Bath Fizzer (400mg CBD) entered the rankings at the fifth position, highlighting a diverse top five across different product categories.
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