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Jun-2024
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Overview
Market Insights Snapshot
Derby's Farm has experienced a mixed performance across categories and states in recent months. In Oregon, their Flower category rankings have seen a decline, dropping from 16th place in March 2024 to 34th place by June 2024. This movement indicates a significant decrease in their market position within the Flower category. The sales figures for this category also reflect this downward trend, with a notable drop from $326,389 in March to $216,301 in June. This decline suggests that Derby's Farm may be facing increased competition or challenges in maintaining their market share in this category within Oregon.
Conversely, Derby's Farm has shown more stability in the Pre-Roll category in Oregon. Despite some fluctuations, their rankings remained relatively steady, moving from 19th place in March 2024 to 20th place in June 2024. The sales in this category have been more consistent, with a slight increase from $168,764 in March to $192,303 in June. This indicates that while Derby's Farm may be struggling in the Flower category, they are maintaining a more stable presence in the Pre-Roll market. However, it is worth noting that they did not break into the top 30 in any other states or categories, which could be seen as a missed opportunity for broader market penetration.
Competitive Landscape
In the competitive landscape of the Oregon flower category, Derby's Farm has experienced notable fluctuations in its rank and sales over the past few months. Starting from a strong position at rank 16 in March 2024, Derby's Farm saw a decline to rank 34 by June 2024. This downward trend in rank is mirrored by a decrease in sales, from a high of $326,389 in March to $216,301 in June. In contrast, Mother Magnolia Medicinals has shown a significant upward trajectory, climbing from rank 85 in March to rank 30 in June, with sales increasing from $98,576 to $225,823. Similarly, Verdant Leaf Farms improved its rank from 71 in March to 54 in June, although its sales saw a slight decline in the latter months. Meraki Gardens maintained a relatively stable position, fluctuating between ranks 21 and 32, but also experienced a drop in sales from $305,380 in April to $221,276 in June. Arise Cannabis entered the top 20 in April at rank 48, but did not sustain its position, falling out of the top 20 by June. These competitive dynamics suggest that while Derby's Farm has a strong market presence, it faces significant competition from brands that are rapidly improving their market positions and sales, indicating a need for strategic adjustments to regain its competitive edge.
Notable Products
In June 2024, the top-performing product for Derby's Farm was Banana Cream Pop (Bulk) in the Flower category, maintaining its number one rank from May 2024 with notable sales of $3,615. Wet Dream (Bulk) secured the second position, followed by Sour Tropicanna Shake (1g) in third place. Sour Cherry Blowpop (Bulk) and Broadway Runtz (Bulk) rounded out the top five, ranking fourth and fifth respectively. Notably, Banana Cream Pop (Bulk) has consistently held the top spot since March 2024, indicating strong and stable consumer demand. The other products entered the top five for the first time in June 2024, showing a shift in consumer preferences.
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