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Jun-2024
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Overview
Market Insights Snapshot
Chompd Edibles has experienced a notable shift in its performance across various states and categories over the recent months. In Oregon, the brand saw a steady decline in its ranking within the edibles category, dropping from 17th place in March 2024 to 26th place by June 2024. This downward trend is reflected in their sales figures, which fell from $64,318 in March to $24,271 in June. This significant drop in both ranking and sales could indicate increasing competition or shifting consumer preferences within the state.
Interestingly, there are no rankings available for Chompd Edibles in other states for the same period, suggesting that the brand did not make it into the top 30 in those markets. This could be a sign that Chompd Edibles is struggling to establish a strong presence outside of Oregon or that the competition is particularly fierce in those regions. The absence of rankings in other states serves as a critical point for the brand to address if it aims to expand its market share and improve overall performance.
Competitive Landscape
In the competitive landscape of the Oregon edibles market, Chompd Edibles has experienced notable fluctuations in its ranking and sales over recent months. Despite starting strong with a rank of 17 in March 2024, Chompd Edibles saw a decline to 26 by June 2024, indicating a significant drop in market position. This decline can be attributed to the consistent performance of competitors such as Pacific Wave, which maintained a steady rank around 22-23, and She Don't Know, which hovered around the 26-27 mark. Additionally, Canna Crispy showed stable performance with a rank of 25 throughout the period. The entry of Green State of Mind into the top 30 in May and June 2024 further intensified competition. These dynamics suggest that Chompd Edibles needs to reassess its market strategy to regain its earlier momentum and address the competitive pressures from these steadily performing brands.
Notable Products
In June 2024, the top-performing product from Chompd Edibles was Tropical Rainbow Geek Bites Gummies 10-Pack (100mg), which maintained its top rank from March and April, despite a decrease in sales to 448 units. Blue Raspberry & Rainbow Geek Gummy Bites 10-Pack (100mg) held the second position, dropping from its peak sales in May. Berry Blast Rainbow Geek Bites Gummies 10-Pack (100mg) remained consistently in the top three throughout the months, securing the third spot in June. Tropical Gummy Bites 10-Pack (100mg) debuted in the rankings at fourth place. Berry Blast Gummy 10-Pack (100mg) slipped to fifth place after ranking fourth in May.
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