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Mar-2024
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Overview
Market Insights Snapshot
In the state of Oregon, Cultivated Industries has shown a mixed bag of results across different cannabis product categories, with notable movements in rankings that could indicate shifting consumer preferences or operational adjustments. The brand's performance in the Concentrates category has seen a gradual improvement over the recent months, moving from a rank of 86 in December 2023 to 66 in March 2024. This upward trajectory, despite starting from a lower position, suggests a positive response to possible strategic changes or market dynamics, even as sales figures in February 2024 showed a significant jump to 17,042 from 7,196 in January 2024. However, the absence of Cultivated Industries in the top 30 brands for Pre-Rolls until February 2024, where it suddenly appeared at rank 66, highlights a potential area of concern or a new market entry strategy worth monitoring for future performance implications.
On the other hand, the Flower category paints a more consistently competitive picture for Cultivated Industries within the Oregon market. After starting at rank 34 in December 2023, the brand made a notable leap to rank 22 by January 2024 and further improved to rank 21 by March 2024. This progression, coupled with a significant increase in sales from 185,898 in December 2023 to 288,844 in March 2024, underscores Cultivated Industries' strong presence and consumer demand in this category. Such performance not only reflects the brand's solid footing but also its potential to capitalize on market trends and consumer preferences in Oregon's competitive cannabis landscape. Despite these insights, the detailed strategies behind these movements and how they compare to performance in other states or provinces remain areas ripe for further exploration.
Competitive Landscape
In the competitive landscape of the Oregon cannabis flower market, Cultivated Industries has shown a notable upward trajectory in its ranking, moving from not being in the top 20 in December 2023 to securing the 21st position by March 2024. This improvement in rank is a testament to its growing presence and sales in a highly competitive market. Competitors such as Oregon Roots and Cosmic Treehouse have displayed fluctuations in their rankings, with Oregon Roots experiencing a slight decline from 14th to 19th position from January to March 2024, and Cosmic Treehouse moving from 18th to 22nd in the same period, despite having higher sales figures than Cultivated Industries at the start of the year. Meanwhile, Juicy Farms made a significant leap, jumping from not being in the top 20 to the 20th position by March, indicating a highly dynamic market. Meraki Gardens, another competitor, also saw a decrease in rank, moving from 27th to 23rd from January to March 2024. These shifts highlight the competitive nature of the Oregon flower market and suggest that Cultivated Industries' recent performance could position it for further growth amidst these fluctuations.
Notable Products
In March 2024, Cultivated Industries saw Cap Junky (Bulk) leading their product sales in the Flower category, marking a significant rise to the top position from its previous second rank in February, with sales reaching 12,846 units. Following closely, Peanut Butter Soufflé (Bulk) and Purple Churro (3.5g) secured the second and third ranks, respectively, showcasing their popularity among consumers. Tropical Gelato B-Bud (3.5g) also performed well, landing in the fourth position, indicating a strong preference for Cultivated Industries' diverse Flower offerings. Notably, AJ's Sour Diesel (Bulk), which was the top seller in February, saw a decrease in its ranking, dropping to the fifth position in March. This shift in rankings highlights dynamic consumer preferences and the competitive nature of Cultivated Industries' product lineup.
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