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Mar-2024
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Overview
Market Insights Snapshot
In the competitive cannabis market of New York, Gage Farms has shown a varied performance across different product categories. In the concentrates category, the brand maintained a presence within the top 30 over the last four months, though it experienced a slight downtrend, moving from 19th in December 2023 to 27th in March 2024. This indicates a steady demand for their concentrates, despite a slight decrease in their market position. Conversely, their performance in the flower category, while not cracking the top 30 in December 2023, showed an improvement moving into March 2024, suggesting a potential rebound or increased marketing efforts in this category. However, the sales figures, such as the increase from 514.0 in February 2024 to 1141.0 in March 2024 for concentrates, hint at a complex interplay of factors affecting sales beyond mere ranking changes.
On the other hand, Gage Farms' pre-roll products have faced significant challenges in maintaining their market position within New York's competitive landscape. Starting outside the top 30 in December 2023 and sliding further away by March 2024, indicates a struggle to capture and retain a significant share of the pre-roll market. This downward trend could reflect a variety of challenges, including increased competition, consumer preference shifts, or possibly inventory and distribution issues. While specific sales details are reserved, the directional movement suggests that Gage Farms may need to reassess their strategy within this category to regain lost ground. Overall, Gage Farms' performance across categories in New York presents a mixed bag of results, with each category telling a different story of the brand's adaptability and market presence.
Competitive Landscape
In the competitive landscape of the Flower category in New York, Gage Farms has experienced fluctuations in its market position, as evidenced by its rank changes from December 2023 to March 2024. Initially ranked 31st in December, it slightly dipped to 32nd in January, fell to 39th in February, and then improved to 35th in March. This trajectory indicates a volatile market presence, especially when compared to its competitors. Grassroots showed a significant improvement, moving from 45th to 34th, suggesting a stronger sales performance relative to Gage Farms. Similarly, Glenna's demonstrated remarkable growth, leaping from 58th to 33rd, and outpacing Gage Farms in terms of rank improvement and possibly sales volume, given its higher rank in March. urbanXtracts and Flower by Edie Parker also showed variability in their rankings, but their movements suggest a competitive field where brands are closely jockeying for position. These dynamics highlight the challenges Gage Farms faces in maintaining and improving its market position amidst aggressive competition and fluctuating sales performances.
Notable Products
In Mar-2024, Gage Farms saw Blueberry Cupcake (3.5g) maintain its position as the top-selling product, with sales reaching 695 units, marking its consistent performance as number one since Dec-2023. Trainwreck (3.5g) made a notable debut in the rankings, securing the second spot with impressive sales figures. Sour Diesel (3.5g) saw an improvement, moving up from the fourth position in Feb-2024 to third in Mar-2024, indicating a growing consumer preference. Krazy Runtz (3.5g) experienced a slight decline, dropping from third to fourth place, reflecting a shift in consumer interest. Lastly, Planet of the Grapes (3.5g), which was not in the top rankings in Feb-2024, entered the list at fifth place, showcasing the dynamic nature of consumer preferences within Gage Farms' product offerings.
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