Jun-2024
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Overview
Market Insights Snapshot
Cheech & Chong's has shown significant movements across various states and categories, reflecting a dynamic performance in the cannabis market. In Arizona, the brand's Flower category saw a notable rise, jumping from rank 29 in March 2024 to an impressive rank 6 by June 2024. This upward trajectory is mirrored in the Pre-Roll category within the same state, where the brand improved from rank 20 in March to a steady rank 4 in both May and June. Such movements indicate a growing consumer preference and increasing market penetration in Arizona. However, the brand's performance in Massachusetts presents a more mixed picture. While the Flower category showed some improvement, moving from rank 30 in March to rank 20 in June, the Pre-Roll category struggled to break into the top 30, highlighting areas where the brand may need to bolster its market strategy.
In Michigan, Cheech & Chong's has been gradually climbing the ranks in the Flower category, moving from rank 92 in March to rank 56 in June. This steady improvement suggests a growing market presence, although there is still considerable room for growth. Meanwhile, in Nevada, the brand’s Flower category experienced fluctuations, with rankings oscillating between 57 and 41 over the four months, indicating a volatile market presence. The Pre-Roll category in Nevada also saw varied performance, peaking at rank 20 in June after falling out of the top 30 in May. In New York, the brand's late entry into the market is evident, with the Flower and Pre-Roll categories only appearing in the rankings from May onwards, suggesting a nascent but potentially promising market foothold.
Competitive Landscape
In the competitive landscape of the Arizona Flower category, Cheech & Chong's has shown significant volatility in its rankings over the past few months. Starting from a rank of 29 in March 2024, the brand made a remarkable leap to rank 6 by June 2024. This upward trajectory suggests a strong recovery and growing market presence. In contrast, competitors like Shango and Sunday Goods have experienced fluctuations, with Shango maintaining a relatively stable position in the top 5, while Sunday Goods saw a decline from rank 5 in March to rank 8 in June. Meanwhile, Tru Infusion and The Giving Tree have also shown some variability but remained within the top 10. The notable rise of Cheech & Chong's in the rankings, coupled with its increasing sales figures, indicates a positive trend and a growing consumer preference, positioning it as a formidable competitor in the Arizona Flower market.
Notable Products
For June 2024, the top-performing product from Cheech & Chong's is Love Machine Pre-Roll (1g) with sales of $50,806. Low Rider Pre-Roll (1g) ranks second, followed by AhhBerry Pre-Roll (1g) in third place. HiFi #9 (3.5g) and Key Lime Pie Infused Pre-Roll (1.2g) secure the fourth and fifth positions, respectively. Notably, AhhBerry Pre-Roll (1g) dropped from first place in May 2024 to third place in June 2024. Overall, the top products for June 2024 showcase a strong preference for pre-rolls among consumers.