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Jun-2024
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Overview
Market Insights Snapshot
Chemistry has shown a consistent presence in the California Tincture & Sublingual category, maintaining a position within the top 15 brands over the past four months. Starting at rank 10 in March 2024, the brand experienced a slight dip to rank 12 in April but managed to recover to rank 11 in May, only to return to rank 12 in June. This stability suggests a solid consumer base and a resilient market position despite minor fluctuations. The sales figures reflect this trend, with a notable dip in April but a subsequent recovery in May and June, indicating a potential seasonal or market-driven factor affecting performance.
Despite Chemistry's relatively stable performance in California, the absence of rankings in other states or provinces implies that the brand has yet to establish a significant presence outside this market. This could be viewed as a limitation in their current market strategy or an opportunity for expansion. The data highlights the importance of maintaining and growing their footprint in established markets while exploring new regions to diversify their consumer base and mitigate risks associated with market-specific downturns.
Competitive Landscape
In the competitive landscape of the Tincture & Sublingual category in California, Chemistry has experienced notable fluctuations in its rank and sales over recent months. Chemistry's rank dropped from 10th in March 2024 to 12th in April, then briefly improved to 11th in May, only to fall back to 12th in June. This indicates a volatile performance compared to its competitors. For instance, My Blue Dove maintained a relatively stable position, hovering around the 11th and 12th ranks, with a significant sales spike in June. Meanwhile, Super Wow consistently outperformed Chemistry, holding the 10th rank for three consecutive months and showing a strong upward sales trend. Breez remained steady at the 13th rank, while Moods Spray experienced a decline, dropping from 14th to 16th. These dynamics suggest that while Chemistry remains competitive, it faces strong and stable contenders, necessitating strategic adjustments to regain and sustain higher rankings.
Notable Products
In June 2024, Vanilla Frosting High THC Tincture (682mg THC, 58.9mg THCA, 30ml) maintained its top position for the fourth consecutive month with sales reaching 603 units. Moods - CBD/THC 18:1 Green Tincture (137mg CBD, 8.1mg THC, 15ml) held steady at the second spot, showing a significant increase in sales to 590 units. CBD/THC/CBN 3:2:1 CBN Moon Beam Full Spectrum Tincture (386mg CBD, 234mg THC, 153mg CBN, 30ml) dropped to third place despite being the top product in May 2024. Moods- CBD:THC 1:1 Pink Tincture (64.2mg CBD, 64.4mg THC, 15ml, 0.5oz) continued its decline, finishing fourth after being second in April 2024. Notably, Hella Jelly Live Resin Diamonds Infused Pre-Roll (1g) entered the rankings for the first time in June, debuting at fifth place.
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