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Jun-2024
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Overview
Market Insights Snapshot
Goldsmith Extracts has shown a steady performance in the Arizona market, particularly in the Concentrates category. Over the past four months, the brand has maintained a rank within the top 30, oscillating between 18th and 21st positions. This consistency indicates a stable consumer base and a reliable product line in this category. Notably, the sales figures for Concentrates have seen a positive trend from April to June, rising from $73,944 to $89,874, which suggests growing consumer demand and effective market strategies. However, it is important to observe how the brand continues to perform in the upcoming months to determine if this trend is sustainable.
In contrast, Goldsmith Extracts' performance in the Vapor Pens category in Arizona has been less robust. The brand has consistently ranked at the lower end of the top 30, holding the 25th to 26th positions over the past four months. This indicates a potential struggle in capturing a significant share of the Vapor Pens market. Furthermore, sales have been on a downward trajectory, decreasing from $180,463 in March to $119,308 in June. This decline could be attributed to increased competition or changing consumer preferences. Monitoring future rankings and sales data will be crucial to understanding if Goldsmith Extracts can rebound in this category or if strategic adjustments are necessary.
Competitive Landscape
In the competitive landscape of vapor pens in Arizona, Goldsmith Extracts has experienced notable fluctuations in its ranking and sales over recent months. Despite maintaining a consistent rank of 26th from April to June 2024, Goldsmith Extracts has seen a downward trend in sales, dropping from $135,961 in April to $119,308 in June. This decline contrasts with the performance of competitors such as The Giving Tree, which, although experiencing a decrease in sales, still maintains higher sales figures and a better rank, fluctuating between 21st and 24th place. Similarly, Big Bud Farms has shown a more stable performance, improving its rank from 27th to 24th between March and May, before slightly dropping to 25th in June. Meanwhile, The Pharm has had a more volatile journey, falling out of the top 30 in April and May but rebounding to 27th in June. These dynamics indicate that while Goldsmith Extracts remains a competitive player, it faces significant challenges from brands with more stable or higher sales trajectories, highlighting the need for strategic adjustments to regain market share and improve its ranking.
Notable Products
In June 2024, the top-performing product from Goldsmith Extracts was Mimosa Distillate Syringe (1g) in the Concentrates category, which rose to the first rank with sales of 693 units, up from the fourth position in May. Purple Punch Badder (1g) maintained its strong performance, holding steady at the second rank with 661 units sold. Grand Daddy Purple Distillate Syringe (1g) dropped to third place from its previous top rank in May, with sales of 597 units. Sour Tangie Distillate Syringe (1g) made a notable entry at the third rank, matching the sales figure of Grand Daddy Purple Distillate Syringe (1g). GG #4 Badder (1g) remained consistent, ranking fourth with sales of 533 units, slightly down from May.
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