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Jun-2024
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Overview
Market Insights Snapshot
In the state of Washington, Cosmic Candy has shown consistent performance in the Edible category. For four consecutive months, from March to June 2024, the brand maintained its 18th position. This stability suggests a loyal customer base and steady demand for their products. However, the sales figures reveal a slight downward trend, with sales decreasing from $98,030 in March to $88,766 in June. This decline could indicate increasing competition or a need for new product innovation to reignite consumer interest.
While Cosmic Candy's presence in the Washington Edible market is noteworthy, it's essential to highlight that the brand did not make it into the top 30 rankings in other states or categories during this period. This absence could be seen as a missed opportunity for the brand to expand its market reach and diversify its product offerings. On the positive side, the consistent ranking in Washington provides a solid foundation for potential growth strategies in neighboring states or new categories. By analyzing consumer preferences and market dynamics, Cosmic Candy could identify areas for expansion and capitalize on emerging trends.
Competitive Landscape
In the Washington edibles market, Cosmic Candy has maintained a consistent rank of 18th place from March to June 2024. Despite this stability, it faces stiff competition from brands like Marmas, which has consistently held the 16th rank and shows a strong upward trend in sales, peaking at 206,973 in June. Another competitor, Mari's, has also maintained its 17th rank but with a notable increase in sales to 131,069 in June. Meanwhile, Binske and Swell Edibles have been fluctuating around the 19th and 20th ranks, with Swell Edibles showing a slight improvement in sales. These dynamics suggest that while Cosmic Candy has a stable position, there is significant competitive pressure from brands just above and below its rank, necessitating strategic efforts to boost its market share and sales.
Notable Products
In June 2024, the top-performing product from Cosmic Candy was Flying Saucer - Indica Big Bang Blue Raspberry Gummies 10-Pack (100mg), maintaining its first-place rank with sales of 2529 units. Following closely in second place was Flying Saucer - Sativa Big Bang Blue Raspberry Gummies 10-Pack (100mg), which also held its position from the previous month. Flying Saucer - Sativa Planetary Peach Gummies 10-Pack (100mg) climbed to third place, outperforming its fourth-place rank from May 2024. Meanwhile, Flying Saucer - Indica Planetary Peach Gummies 10-Pack (100mg) remained steady in fourth place. Lastly, Flying Saucers - Indica Supernova Strawberry Gummy 10-Pack (100mg) stayed in fifth place, despite a consistent decline in sales over the past few months.
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