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Jun-2024
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Overview
Market Insights Snapshot
CULTA's performance in Maryland demonstrates notable fluctuations across different categories over the past few months. In the Concentrates category, CULTA maintained a relatively stable position, ranking 10th in both May and June 2024, despite a brief dip to 11th in April. This consistency is highlighted by a significant increase in sales from $52,465 in April to $125,263 in June. Conversely, the Flower category saw a downward trend, with CULTA's ranking falling from 6th in March to 13th in June. This decline is mirrored by a steady decrease in sales, indicating potential challenges in this segment.
In the Pre-Roll category, CULTA's performance exhibited some volatility, with rankings fluctuating between 13th and 17th place over the four-month period. This inconsistency suggests a competitive market landscape and possibly varying consumer preferences. The Vapor Pens category also showed a downward trend, with CULTA dropping out of the top 10 after March and not recovering by June. The decrease in sales from $612,200 in March to $383,194 in June further underscores the brand's struggle to maintain its position in this category. Overall, while CULTA has shown resilience in certain segments, there are clear areas for improvement to regain and maintain higher rankings across all categories.
Competitive Landscape
In the Maryland flower category, CULTA has experienced a notable decline in rank and sales over the past few months. Starting from a strong position at rank 6 in March 2024, CULTA dropped to rank 13 by June 2024. This downward trend is contrasted by competitors such as Modern Flower and Good Green, which have shown more stability or even slight improvements in their rankings. For instance, Modern Flower improved from rank 19 in April to rank 14 by June, while Good Green maintained a top 10 position until May before slipping to rank 12 in June. Additionally, Grow West Cannabis Company has consistently hovered around the 10th and 11th positions, indicating a more stable performance compared to CULTA. This competitive landscape suggests that CULTA needs to reassess its strategies to regain its earlier momentum and improve its market position in Maryland's flower category.
Notable Products
In June 2024, Amnesia OG Pre-Roll 2-Pack (1g) maintained its top position as the best-selling product for CULTA, with sales reaching 4309 units. Johnny Glaze Popcorn (3.5g) emerged as the second-best performer, followed closely by Johnny Glaze (3.5g) in third place. Dosidos #22 (3.5g) ranked fourth, showing a slight decline from its second position in April 2024. Dosidos #22 Smalls (3.5g) rounded out the top five, dropping from its third-place ranking in May 2024. Overall, the rankings indicate stability for some products and notable shifts for others within CULTA's offerings.
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