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Jun-2024
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Overview
Market Insights Snapshot
Do Drops has shown a varied performance across different states and categories in recent months. In Massachusetts, the brand has struggled to break into the top 30 rankings for the Edible category, with its rank hovering around the 46th to 53rd positions from March to June 2024. Despite this, the brand's sales have shown some resilience, with a noticeable increase from $30,973 in April to $41,774 in June. This upward trend in sales, despite not making it into the top 30, suggests a potential for growth if the brand can improve its market penetration and visibility in the state.
Conversely, in Maryland, Do Drops has maintained a stronger presence within the Edible category, consistently ranking within the top 15 brands from March to June 2024. The brand experienced a dip in rankings in May, moving from 11th to 15th place, but quickly rebounded to 12th place in June. This fluctuation in ranking is accompanied by a corresponding dip and subsequent recovery in sales figures, indicating a responsive market that reacts quickly to changes in brand performance. These trends highlight the importance of maintaining consistent quality and marketing efforts to sustain and improve market position in competitive states like Maryland.
Competitive Landscape
In the competitive landscape of the Edible category in Maryland, Do Drops has experienced notable fluctuations in rank and sales over the past few months. While Do Drops saw a peak rank of 11th in April 2024, it dipped to 15th in May before climbing back to 12th in June. This volatility contrasts with the more stable performance of competitors like Dixie Elixirs, which consistently held the 14th position from April to June, and Smokiez Edibles, which maintained the 10th rank for three consecutive months. Despite these fluctuations, Do Drops' sales rebounded strongly in June, reaching $305,114, which is higher than Beboe's $318,841 and Evermore Cannabis Company's $279,315. This indicates a potential for growth and resilience in a competitive market. For a deeper dive into these trends and more advanced data, consider exploring our comprehensive market reports.
Notable Products
In June 2024, the top-performing product from Do Drops was Pride - Starfruit Gummies 10-Pack (100mg), which saw a significant sales increase to $3,686 and secured the number one rank for the month. The Energy - CBD/CBG/THC 2:2:1 Lemon Citrus Gummies 10-Pack (200mg CBD, 200mg CBG, 100mg THC) slipped to the second position after holding the top spot for three consecutive months. Sleep - CBN/THC 1:1 Slumberberry Gummies 10-Pack (100mg CBN, 100mg THC) improved its ranking to third place from fourth in May 2024. Focus - CBG/THC/THCV 1:1:1 Watermelon Gummies 10-Pack (100mg CBG, 100mg THC, 100mg THCV) dropped one spot to fourth in June. Relief - CBG/THC 4:1 Pineapple Ginger Gummies 10-Pack (400mg CBG, 100mg THC) maintained its fifth position for the second month in a row.
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