Apr-2024
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Overview
Market Insights Snapshot
In the competitive cannabis beverage market, CQ (Cannabis Quencher) has shown a consistent performance across several states, with notable trends in its category rankings. In California, the brand maintained its position at 13th across the first four months of 2024, indicating a stable but not leading presence in one of the largest cannabis markets. This consistency, coupled with a slight increase in sales from January (115470.0) to March (123933.0), suggests a steady demand for their products. However, the lack of upward movement in rankings could imply a strong competition or a saturation in the beverage category within the state. Contrastingly, in Illinois, CQ (Cannabis Quencher) held a much stronger position, consistently ranking 3rd from January to April 2024, and experiencing a significant increase in sales, peaking at 404952.0 in April. This indicates a strong consumer preference and a potentially dominant position in the Illinois beverage market.
Looking at other states, CQ (Cannabis Quencher) has shown an impressive ability to improve its market stance, particularly in Michigan, where it climbed from the 6th position in January to 4th by April 2024, accompanied by a remarkable sales jump to 129109.0 in the latter month. This upward trend signifies a growing consumer base and possibly effective marketing strategies or product improvements. In contrast, Massachusetts presents a more challenging landscape, with the brand fluctuating slightly in the rankings but managing to stay within the top 10. Despite these fluctuations, a steady increase in sales from January (36711.0) to April (44556.0) suggests that CQ (Cannabis Quencher) is gradually solidifying its presence in the state. These state-by-state performances highlight the brand's varying degrees of success and market penetration, reflecting the diverse consumer preferences and competitive dynamics across regions.
Competitive Landscape
In the competitive landscape of the beverage category in Illinois, CQ (Cannabis Quencher) has maintained a consistent third rank across the first four months of 2024, showcasing stable demand amidst fluctuating market dynamics. Its closest competitors, tonic and Journeyman, have secured the second and first ranks respectively during the same period, with Journeyman leading the pack by a significant margin in terms of sales volume. Notably, tonic's sales have shown a slight decline from February to April, indicating potential opportunities for CQ to capture additional market share. Meanwhile, Spring Lake Craft Infusions and Artet trail behind, occupying the fourth and fifth/sixth positions, with Artet showing a positive trajectory moving from sixth to fifth rank. This competitive analysis underscores the importance of strategic positioning and product differentiation for CQ (Cannabis Quencher) as it navigates the highly competitive beverage market in Illinois.
Notable Products
In Apr-2024, CQ (Cannabis Quencher) saw its "Old Fashioned Lemonade Shot (100mg THC, 2oz)" maintain its top position in sales with a notable figure of 13,207 units, continuing its streak from the previous three months. Following closely, the "Strawberry Lemonade Shot (100mg THC, 2oz)" climbed to the second rank, showing an improvement from its third and fourth positions earlier in the year. The "Strawberry Lemonade (100mg THC, 16oz, 437ml)" secured the third spot, despite a drop from its second rank in February. The "Wildberry Guava Agua Fresca Shot (100mg THC, 2oz)" held onto the fourth position, demonstrating a consistent improvement in its ranking over the four months. Lastly, the "Ginger Ale Soda (10mg THC, 355ml, 12oz)" entered the top five in April, a new addition to the rankings, underscoring a diversifying interest among CQ's offerings.