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Mar-2024
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Overview
Market Insights Snapshot
In the dynamic cannabis market of Massachusetts, Freshly Baked has shown notable performance across various categories, with a particularly interesting journey in the Edible and Vapor Pens segments. For Edibles, the brand climbed from a rank of 25 in December 2023 to an impressive 16 by March 2024, signaling a strong upward trajectory in consumer preference and market penetration. This is underscored by a significant sales jump from $110,876 in December 2023 to $141,933 in March 2024. On the other hand, the Vapor Pens category saw Freshly Baked moving from a rank outside the top 30 in December 2023 to a commendable 20th position by March 2024. This leap is backed by a dramatic increase in sales, peaking at $326,889 in February 2024, though it slightly dipped to $312,098 in March 2024. These movements indicate a robust growth in brand popularity and consumer trust in these segments.
However, not all categories have witnessed such positive trends. The Pre-Roll category, for instance, highlights a challenge for Freshly Baked, with the brand only breaking into the top 30 in March 2024 at rank 96, a position that reflects its nascent stage in this segment within the Massachusetts market. This late entry, despite a modest sales figure of $14,357 in March 2024, suggests room for growth and a need for strategic focus to climb the ranks. Conversely, the Topical category has shown consistency, maintaining a position around the 10th rank from December 2023 through March 2024, with sales peaking at $7,518 in March 2024. This steadiness in rankings alongside a sales increase indicates a strong foothold in the Topical segment, balancing out the brand's overall portfolio performance across categories.
Competitive Landscape
In the competitive landscape of the Vapor Pens category in Massachusetts, Freshly Baked has shown a notable upward trajectory in its rankings, moving from not being in the top 20 in December 2023 to securing the 20th position by March 2024. This climb in rank is indicative of a significant increase in sales, overtaking competitors such as Southie Adams and High Supply / Supply in the same period. Despite this impressive growth, Freshly Baked still trails behind Pioneer Valley and In House, which have maintained higher rankings and sales figures over these months. The data suggests a positive trend for Freshly Baked in terms of market penetration and consumer preference within the state, positioning it as a brand to watch as it continues to challenge established players in the Vapor Pens market in Massachusetts.
Notable Products
In March 2024, Freshly Baked's top-selling product was the Strawberry Lemonade Gummies 20-Pack (100mg) within the Edible category, achieving remarkable sales of 1838 units. Following closely, the Blue Dream Distillate Cartridge (1g) from the Vapor Pens category secured the second position with its sales slightly trailing at 1554 units. The third spot was claimed by the Northern Lights Distillate Cartridge (1g), also from the Vapor Pens category, with sales reaching 1214 units. Notably, the Blueberry Lemonade Gummies 20-Pack (100mg) fell to the fourth rank in March after being the top product in December 2023, indicating a significant shift in consumer preferences within Freshly Baked's product range. This shift underscores the dynamic nature of product popularity and sales performance over the months.
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