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Jun-2024
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Overview
Market Insights Snapshot
Equinox Gardens has shown notable performance improvements in the Flower category, particularly in Colorado. Starting from a rank of 32 in March 2024, the brand made a significant leap to rank 16 in April and May, and further climbed to the 9th position by June. This upward trend is indicative of a strong market presence and increasing consumer preference in Colorado. The consistent rise in rankings suggests effective market strategies and product quality that resonate well with consumers. However, it's worth noting that the brand did not make it to the top 30 in March, signaling a need for continuous improvement and adaptation to maintain and build upon this momentum.
In Washington, Equinox Gardens has a mixed performance record across different categories. While the brand did not break into the top 30 for Flower, it did show a gradual improvement, moving from rank 96 in March to 70 in June. This indicates a slow yet positive trajectory in the Flower category. Conversely, the brand has performed relatively well in the Pre-Roll category, starting at rank 30 in March and improving to 21 by June. This suggests a stronger foothold in the Pre-Roll market in Washington, though there is still room for growth to reach higher rankings. The varied performance across categories highlights the brand's potential and areas that require strategic focus.
Competitive Landscape
In the competitive landscape of the Colorado Flower category, Equinox Gardens has demonstrated significant upward momentum in recent months. Starting from a rank of 32 in March 2024, Equinox Gardens surged to rank 9 by June 2024. This impressive climb can be attributed to consistent sales growth, with a notable increase from $296,909 in March to $502,970 in June. In comparison, 710 Labs experienced a decline, dropping from rank 9 in March to rank 11 in June, while In The Flow showed a strong recovery, moving up from rank 26 in March to rank 8 in June. Similarly, Artsy Cannabis Co maintained a steady presence in the top 10, peaking at rank 7 in June. The Organic Alternative also showed resilience, fluctuating within the top 20 and ending at rank 10 in June. These shifts highlight the dynamic nature of the market and underscore Equinox Gardens' competitive edge and potential for continued growth.
Notable Products
In June 2024, the top-performing product for Equinox Gardens was Mac & Cheese (3.5g) in the Flower category, reclaiming its number one rank with sales of 2106 units. Strawberry & Cream Shake (14g) rose to the second position, showing a consistent improvement from its fifth place in March. The new entrant, Strawberry & Cream (3.5g), debuted impressively at third place. La Baker Shake (14g) saw a slight drop to fourth place from its second position in May. Green Crack Pre-Roll 14-Pack (7g) maintained its rank at fifth place, demonstrating steady performance across the months.
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