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Jun-2024
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Overview
Market Insights Snapshot
Good News has shown consistent performance in the Illinois market, particularly in the Edible and Vapor Pens categories. In the Edible category, the brand has maintained a steady rank of 8th place from April to June 2024, indicating a stable consumer base and possibly effective marketing strategies. Sales figures in this category have also shown a positive trend, with a noteworthy increase from $726,932 in April to $765,404 in June. In contrast, the Pre-Roll category has seen a significant decline, with the brand dropping out of the top 30 by June. This could be a point of concern and may require strategic adjustments. Meanwhile, the Vapor Pens category has shown positive momentum, climbing from 17th place in March to 13th in June, accompanied by a steady rise in sales.
In Massachusetts, Good News has demonstrated a mixed performance. The Edible category shows promising stability, maintaining the 12th rank from April to June 2024. This consistency suggests a loyal customer base, although sales saw a slight dip from $403,185 in May to $378,792 in June. In the Vapor Pens category, the brand's rank remained unchanged at 12th place from April to June, but sales have been on a downward trajectory, which could indicate growing competition or changing consumer preferences. In Michigan, the brand's performance in the Edible category has been less impressive, failing to make it into the top 30 rankings after March. This suggests that Good News may need to reassess its strategy in this market to improve its competitive positioning.
Competitive Landscape
In the Illinois Vapor Pens category, Good News has shown a positive trend in its rankings over the past few months, moving from 17th place in March 2024 to 13th place by June 2024. This upward movement indicates a strengthening position in the market, likely driven by increased consumer preference and effective marketing strategies. In comparison, The Botanist experienced fluctuations, peaking at 12th place in May 2024 but dropping to 15th in June 2024, suggesting potential volatility in their sales performance. Meanwhile, In House maintained a relatively stable position, fluctuating slightly but remaining within the 11th to 12th rank range. Savvy also showed stability, consistently ranking around 14th place. Notably, Midweek Friday demonstrated a significant rise, jumping from 18th in March 2024 to 8th in April 2024, before stabilizing around the 11th to 13th range. These insights suggest that while Good News is on an upward trajectory, it faces stiff competition from brands like Midweek Friday and In House, which have also shown strong performances. For a deeper understanding of these trends and more detailed data, advanced analytics can provide invaluable insights.
Notable Products
In June 2024, the top-performing product for Good News was Friyay - Watermelon Gummies 10-Pack (100mg), maintaining its first-place ranking consistently since March 2024 with a sales figure of 12,279. Brunch - Orange Gummies 20-Pack (100mg) climbed to second place, showing an increase from previous months and achieving 10,127 in sales. Counting Sheep - THC/CBN 2:1 Black Cherry Gummies 10-Pack (100mg THC, 50mg CBN) held steady at third place, continuing its consistent performance with 9,862 in sales. Me Time - Indica Blue Raspberry Gummies 20-Pack (100mg) dropped to fourth place despite strong sales of 9,492. Notably, Brunch - Orange BDT Distillate Disposable (0.3g) entered the rankings at fifth place, marking its debut in the top five.
Top Selling Cannabis Brands
