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Jun-2024
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Overview
Market Insights Snapshot
FloraVega / Welleaf has exhibited notable performance fluctuations in the Flower category within Nevada. The brand's ranking experienced a dip from 11th place in March 2024 to 12th in April 2024, but it saw a significant resurgence to 6th place in May 2024 before falling back to 11th in June 2024. This volatility suggests a competitive market landscape and possibly varying consumer preferences or seasonal demand shifts. Notably, the brand's sales in May 2024 spiked considerably, indicating a successful campaign or product launch during that period, despite the subsequent decline in June.
In contrast, FloraVega / Welleaf's presence in the Pre-Roll category in Nevada is less prominent. The brand was ranked 65th in March 2024 and did not appear in the top 30 rankings for subsequent months. This absence highlights an area for potential growth or strategic reevaluation. The lack of consistent top 30 rankings in the Pre-Roll category could be viewed as an opportunity for the brand to innovate or improve its market positioning to capture more consumer interest and increase its share in this segment.
Competitive Landscape
In the competitive landscape of the Flower category in Nevada, FloraVega / Welleaf has experienced notable fluctuations in rank and sales over recent months. Starting at rank 11 in March 2024, the brand saw a slight dip to 12 in April, a significant rise to 6 in May, and then a drop back to 11 in June. This volatility contrasts with competitors like Stackhouse, which maintained a relatively stable position within the top 10 before falling to 12 in June, and Lavi, which showed a steady climb from 19 in March to 9 in June. Despite these fluctuations, FloraVega / Welleaf's peak in May indicates potential for strong performance, although it faces stiff competition from brands like High Heads and Twelve Twelve, which also exhibit varying degrees of rank stability and sales performance. These dynamics suggest that while FloraVega / Welleaf has the capacity for high sales, maintaining a consistent rank amidst competitive pressures remains a challenge.
Notable Products
In June 2024, the top-performing product for FloraVega / Welleaf was RS-37 (3.5g), which maintained its top rank from May 2024, with sales reaching $1324. Grape 98 (3.5g) secured the second position, marking its debut in the rankings. Lemon Cherry Gelato (14g) followed closely in third place, also appearing for the first time. SFV OG (3.5g) and Chernobyl (14g) rounded out the top five, both new entries in June. Compared to previous months, RS-37 (3.5g) has consistently performed well, while the other products showed notable new entries in the rankings.
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