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Apr-2024
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Overview
Market Insights Snapshot
In the highly competitive California market, Emerald Bay Extracts has shown a notable performance in the Capsules category, maintaining a consistent top 5 ranking from January to March 2024, before slightly slipping to the 6th position in April. This slight decline could be indicative of increased competition or shifts in consumer preferences. Their sales in January for the Capsules category stood at $586,612, which is the only raw sales detail shared, highlighting a strong start to the year. However, despite this strong position, the sales trajectory from January to April shows a gradual decrease, suggesting challenges in maintaining their sales volume in this category.
On the other hand, their journey in the Concentrates category tells a story of improvement and recovery. Starting outside the top 30 in January 2024, with a ranking of 38, Emerald Bay Extracts made a significant leap to the 23rd position by April. This upward movement in rankings is a positive sign, indicating a growing presence and possibly an increase in market share within the Concentrates category in California. The increase in their ranking is particularly impressive given the competitive nature of the California cannabis market, showcasing their ability to adapt and grow in a different product category.
Competitive Landscape
In the competitive landscape of the cannabis capsule category in California, Emerald Bay Extracts has shown a consistent performance in the first quarter of 2024, maintaining its position in the top 5 ranks from January to March before experiencing a slight dip to the 6th position in April. This shift in rank is notable when compared to its competitors, such as Kikoko, which consistently held a higher rank, fluctuating within the top 4 spots, and Buddies, which improved its position by moving up to the 5th spot in April, surpassing Emerald Bay Extracts. On the other hand, Papa & Barkley remained steady, securing the 7th rank throughout the period, indicating a stable but lower performance compared to Emerald Bay Extracts. An emerging competitor, Huxleys, showed significant growth, moving from the 10th to the 8th position by April, suggesting a potential challenge for Emerald Bay Extracts if this upward trend continues. This dynamic ranking and sales performance among competitors highlight the competitive pressure Emerald Bay Extracts faces, underscoring the importance of strategic initiatives to maintain or improve its market position in the evolving cannabis capsule market in California.
Notable Products
In April 2024, Emerald Bay Extracts saw the Ice Cream Cake RSO Syringe (1g) from the Concentrates category maintain its top position with impressive sales of 2208 units, marking it as the highest-selling product for the month. The Mendo Crumble RSO Syringe (1g), also from the Concentrates category, debuted in the rankings at second place, indicating a strong market entry. The Ice Cream Cake RSO Tablets (25mg) from the Capsules category secured the third spot, showcasing diversification in the top product categories. Notably, the Blue Dream RSO (1g) fell from second place in March to fourth in April, reflecting a shift in consumer preferences. Lastly, the CBG White RSO Tablets 40-Pack (1000mg) from the Capsules category consistently held the fifth position, indicating stable demand amidst changes in the rankings of other products.
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