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Jun-2024
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Overview
Market Insights Snapshot
Freshly Baked has shown varied performance across different product categories in Massachusetts. In the Edible category, the brand has seen a consistent decline in rankings, slipping from 23rd in March 2024 to 30th by June 2024. This downward trend is also reflected in their sales figures, which decreased from $121,778 in March to $79,965 in June. Such a decline suggests that Freshly Baked may need to reassess its strategy in the Edible market to regain its standing. On the other hand, their Vapor Pens category has demonstrated more stability. Despite a dip in April, the brand maintained a strong position, ranking 20th in both March and June 2024, indicating a more resilient performance in this segment.
The Pre-Roll category presents a different story for Freshly Baked in Massachusetts. The brand did not make it into the top 30 rankings for March and April 2024, but it emerged at 89th in May and slightly dropped to 95th in June. This late entry into the rankings could be seen as a positive movement, suggesting that Freshly Baked is gaining traction in the Pre-Roll market, albeit slowly. However, the sales figures indicate a need for improvement, with a decline from $34,004 in May to $23,238 in June. Overall, while Freshly Baked shows promise in some areas, there are clear opportunities for growth and optimization across different product segments.
Competitive Landscape
In the competitive landscape of vapor pens in Massachusetts, Freshly Baked has shown a notable fluctuation in its rankings and sales over recent months. Despite a dip to 27th place in April 2024, Freshly Baked managed to recover to 20th place by June 2024. This recovery is significant, especially when compared to competitors like Papa's Herb, which saw a decline from 13th to 18th place over the same period, and Galactic (fka Galactic Meds), which fluctuated but remained outside the top 20 in April and June. Additionally, Sparq Cannabis Company experienced a drop from 13th to 19th place, indicating a volatile market where Freshly Baked's resilience stands out. This dynamic shift in rankings underscores the competitive pressure and the importance of strategic adjustments to maintain and improve market position. For customers and investors, these insights highlight the potential for Freshly Baked to capitalize on market opportunities and improve its standing amidst fluctuating competitor performance.
Notable Products
In June 2024, the top-performing product for Freshly Baked was Acapulco Gold Distillate Disposable (1g) in the Vapor Pens category, securing the first rank with a notable sales figure of $1,216. Blue Dream Distillate Cartridge (1g), also in the Vapor Pens category, followed closely at the second position, showing a consistent improvement from its third rank in May 2024. Jack Herer Distillate Cartridge (1g) climbed to the third spot, a significant rise from its previous absence in May. Ghost Train Haze Distillate Cartridge (1g) maintained its fourth position, demonstrating steady sales performance. Blueberry Lemonade Gummies 20-Pack (100mg) in the Edible category saw a drop to fifth place, reflecting a decrease in sales from its leading position in May 2024.
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