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Jun-2024
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Overview
Market Insights Snapshot
Encore Edibles has shown a consistent performance across several states, maintaining a steady presence in the top rankings within the Edible category. In Illinois, the brand has consistently held the 4th position from March to June 2024, demonstrating a strong foothold in this market. Their sales in Illinois have seen a slight fluctuation but remain robust, indicating a stable consumer base. Similarly, in Maryland, Encore Edibles has shown resilience, holding the 2nd or 3rd position over the same period. However, it's worth noting that their sales peaked in May but saw a dip in June, which could be indicative of seasonal trends or market competition.
In contrast, Encore Edibles' performance in Massachusetts and Nevada has been less impressive. In Massachusetts, the brand has consistently ranked 15th from March to June 2024, suggesting limited market penetration or stronger competition. Their sales in Massachusetts have also shown a downward trend, which could be a cause for concern. In Nevada, the brand's ranking has seen a slight decline from 6th in March to 8th in June, accompanied by a decrease in sales. On a more positive note, Encore Edibles has improved its position in Ohio, moving up from 5th in April to 2nd in June, reflecting a significant increase in market share and consumer acceptance.
Competitive Landscape
In the competitive landscape of the Illinois edible cannabis market, Encore Edibles consistently ranks 4th from March to June 2024, indicating a stable position in the market. However, this stability contrasts with the dynamic shifts seen in other brands. For instance, Wyld and Wana have been vying for the top spots, with Wana securing the 2nd rank from April to June 2024, while Wyld dropped to 3rd place during the same period. This competition at the top highlights the challenge for Encore Edibles to climb higher in rank. Despite this, Encore Edibles has shown resilience with a slight increase in sales from May to June 2024, contrasting with the declining sales of Wyld. Meanwhile, Ozone and Lost Farm remain steady at 5th and 6th ranks respectively, posing less immediate threat to Encore Edibles' position. The data underscores the importance for Encore Edibles to innovate and strategize effectively to break into the top three in this competitive market.
Notable Products
In June 2024, the top-performing product from Encore Edibles was Indica Concord Grape RSO Gummies 10-Pack (100mg), maintaining its first-place ranking with sales of $13,742. Indica Sweet Berry Burst Gummies 10-Pack (100mg) held the second position, consistent with its ranking from May 2024. Sativa Tropical Mango RSO Gummies 10-Pack (100mg) dropped to third place after leading in May 2024. Sativa Sweet Strawberry Gummies 10-Pack (100mg) emerged in fourth place, showing notable performance after being unranked in previous months. Sour Black Cherry RSO Gummies 10-Pack (100mg) remained steady in fifth place, consistent with its ranking in April and May 2024.
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