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Apr-2024
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Overview
Market Insights Snapshot
In the competitive cannabis beverage sector, Drink Loud has shown notable performance trends across various states, with each state highlighting a different aspect of the brand's market dynamics. In California, Drink Loud maintained a consistent presence in the top 30 brands, albeit with a slight fluctuation in rankings from 26th in January to 24th in March, before dipping back to 26th in April. This slight decrease in rank, despite a fluctuating sales pattern, suggests a competitive market environment in California where maintaining or improving rank can be challenging. Conversely, in Massachusetts, Drink Loud held steady at the 8th rank across all four months, indicating a strong and stable position within the top 10 beverage brands. This stability, combined with a significant sales increase in March, underscores the brand's solid foothold and positive consumer reception in the Massachusetts market.
Looking at Drink Loud's performance in other states, the brand has achieved remarkable success in Missouri and Nevada, securing the 2nd rank consistently in Missouri over the four months and showing impressive sales growth. This top-tier ranking, alongside substantial sales figures, such as the $162,089 in sales in March 2024, highlights the brand's dominance and strong consumer demand in Missouri. In Nevada, while Drink Loud maintained the 2nd position from January to March, a slight decline to the 4th rank in April could indicate emerging challenges or increased competition within the state's beverage category. Despite this, the brand's performance in Nevada remains strong, suggesting that Drink Loud has effectively captured and maintained a leading position in multiple key markets.
Competitive Landscape
In the competitive landscape of the beverage category in Missouri, Drink Loud has maintained a strong second position consistently from January to April 2024, trailing behind the market leader Keef Cola. Despite Drink Loud's solid ranking, the gap between it and Keef Cola is significant, with Keef Cola's sales dwarfing those of Drink Loud across all observed months. However, Drink Loud has shown a positive sales trajectory, indicating a growing consumer base or increased market penetration. Notably, Sprinkle has made a remarkable leap in rankings from ninth to fourth place within the same period, showcasing a rapid growth in popularity and potentially signaling a future competitive threat to Drink Loud. Meanwhile, Countdown has experienced fluctuations in its rankings but managed to secure the fourth position by April, slightly ahead of Sprinkle. This dynamic market suggests that while Drink Loud holds a strong position, it must innovate and adapt to maintain its rank and fend off fast-growing competitors like Sprinkle and Countdown.
Notable Products
In April 2024, Drink Loud saw the Chill - THC/CBN 10:1 Kush Berry Shot (100mg THC, 10mg CBN) leading its sales with 6088 units, marking a return to its January peak position. Following closely, the Lifted - Maui Blast Potion Shot (100mg) ranked second, despite being the top seller in March. The third spot was taken by Cruise - Pink Lemonade Potion Shot (100mg), which had briefly led the sales in February but dropped down in the following months. The Spark - Cucumber Haze Potion Shot (100mg) consistently held the fourth position throughout the four months, indicating stable but lower sales compared to its counterparts. These rankings highlight a competitive landscape within Drink Loud's beverage category, with notable shifts in consumer preferences over the months.
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