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Mar-2024
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Overview
Market Insights Snapshot
In the competitive cannabis market, Chill Medicated has shown remarkable consistency and growth in certain categories, particularly in the Massachusetts market. The brand has maintained a strong position in the Beverage category, holding the second rank consistently from December 2023 through March 2024, with sales peaking in March at $222,086. This indicates a steady demand for their beverage products in Massachusetts. Even more impressive is their performance in the Topical category within the same state, where they've held the top spot over the same period, with sales notably jumping from $59,513 in December 2023 to $85,219 by March 2024. This growth not only highlights their dominance in the Topical category but also suggests an increasing consumer trust and preference for Chill Medicated's topical products in Massachusetts.
However, the brand's performance in Michigan presents a mixed picture. While Chill Medicated has maintained a strong presence in the Beverage and Topical categories, ranking as high as 2nd and 1st respectively, their journey in the Concentrates category tells a different story. Starting from a rank of 56 in December 2023 and slipping to 97 by March 2024, this significant drop indicates a challenge in capturing a substantial market share within Michigan's concentrates market. Despite the struggle in concentrates, their topicals have seen exceptional performance, maintaining the top position with sales rebounding to $405,767 by March 2024 after a dip in February. This contrast within their product lines in Michigan underscores the brand's need to reassess its strategy in the concentrates segment while continuing to leverage its strength in topicals and beverages.
Competitive Landscape
In the competitive landscape of the topical cannabis category in Michigan, Chill Medicated has demonstrated a strong presence, maintaining the top position in December 2023 and January 2024, experiencing a slight dip to second place in February 2024, before reclaiming its lead in March 2024. This fluctuation in rank, particularly the brief overtaking by Mary's Medicinals in February, highlights the competitive dynamics within the market. Despite this, Chill Medicated's sales rebounded in March, underscoring its resilience and consumer loyalty. Escape Artists, another notable competitor, has consistently held the third rank, showing steady performance but not challenging the top two brands significantly. The sales trends suggest that while Chill Medicated enjoys a leading position, the competition remains fierce, with Mary's Medicinals posing a significant challenge. This competitive analysis indicates a need for Chill Medicated to continue innovating and engaging with their customer base to maintain and strengthen their market position.
Notable Products
In Mar-2024, the top-performing product from Chill Medicated was the CBD/THC 1:1 Extreme X Body Rub, ranking first with sales of 2990 units. Following closely, the newly introduced CBD/THC 1:1 Relax Body Rub secured the second spot, indicating a strong market entry. The Cherry Syrup product emerged as the third best-seller, showcasing the popularity of Chill Medicated's beverage line. Notably, the RSO Dart, previously a top seller, dropped to the fourth position, highlighting a shift in consumer preferences. Lastly, the Sour Green Apple Syrup rounded out the top five, maintaining its presence in the market despite not being ranked in the previous two months.
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