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Jun-2024
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Overview
Market Insights Snapshot
Firestar's performance across various states and categories has shown significant fluctuations over recent months. In Nevada, Firestar's ranking in the Flower category has seen a notable decline. Starting at 14th place in March 2024, the brand fell to 28th place by June 2024. This downward trend is concerning, especially considering that they were not in the top 30 brands in several other states and categories during this period. The sales figures also reflect this decline, dropping from $447,714 in March to $217,442 by June, indicating a substantial decrease in consumer demand or market share.
Despite the challenges in Nevada, Firestar's overall presence in other states and categories remains a mixed bag. The absence of Firestar in the top 30 rankings in multiple states and categories could be seen as a negative indicator of their competitive positioning. However, this also presents an opportunity for the brand to reassess and strategize its market approach to regain its standing. The brand's performance in Nevada serves as a critical data point for understanding broader market dynamics and consumer preferences, which can be leveraged to improve future outcomes.
Competitive Landscape
In the competitive landscape of the Nevada flower category, Firestar has experienced notable fluctuations in its rank and sales over the past few months. Starting from a strong position at rank 14 in March 2024, Firestar saw a slight improvement to rank 13 in April before dropping to rank 19 in May and further to rank 28 in June. This downward trend in rank is mirrored by a decline in sales, from $447,714 in March to $217,442 in June. Comparatively, Polaris MMJ also experienced a drop in rank, from 15 in March to 26 in May and June, indicating a similar struggle in maintaining market position. Meanwhile, Dope and Superior (NV) have shown more stability, with Dope re-entering the top 20 in May and Superior (NV) maintaining a consistent rank around the 30s. Interestingly, Verano was not in the top 20 until June, when it jumped to rank 27, suggesting a potential new competitor on the rise. These dynamics highlight the competitive pressures Firestar faces and underscore the importance of strategic adjustments to regain and sustain its market position.
Notable Products
In June 2024, the top-performing product for Firestar was Dirty Diana (14g) in the Flower category, taking the number 1 rank with sales of 959 units. Lemon Essence (3.5g) followed closely at rank 2, maintaining strong performance despite dropping from the top position in April 2024. Black Jack (3.5g) secured the third spot, showing consistent sales performance over the months. Whoa Si Whoa (3.5g) entered the rankings in June at position 4. Lemon Essence (14g) rounded out the top 5, though it experienced a slight decline from its third-place rank in May 2024.
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