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Jun-2024
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Overview
Market Insights Snapshot
Good Tide has shown varying performance across different states and categories, with notable fluctuations in rankings and sales. In Arizona, the brand experienced a decline in its position, moving from 10th in March 2024 to 20th by June 2024. This drop is reflected in their sales figures, which decreased significantly from $326,350 in March to $86,226 in June. Conversely, in California, Good Tide maintained a steady 9th place ranking over the same period, though their sales showed a downward trend, indicating potential market saturation or increased competition.
In Colorado, Good Tide consistently held the 6th position in the Edible category, with a remarkable sales increase from $621,005 in March to $967,201 in June, suggesting strong brand loyalty or effective marketing strategies. However, in Nevada, the brand's performance was less stable, as it did not rank in the top 30 in March but improved to 8th place by April, eventually slipping to 10th in June. This fluctuation highlights potential volatility in consumer preferences or market conditions in Nevada. Overall, Good Tide's performance varies significantly across states, with some markets showing consistent rankings and others indicating room for improvement.
Competitive Landscape
In the competitive landscape of the Colorado edible cannabis market, Good Tide has maintained a consistent rank of 6th place from March to June 2024. This stability is noteworthy, especially when compared to competitors such as Incredibles, which fluctuated between 7th and 9th place, and Joyibles, which saw more significant rank changes, dropping to 10th place in May before rebounding to 7th in June. Despite the consistency in rank, Good Tide's sales have shown a positive trend, with a notable increase from $508,355 in April to $967,201 in June. This upward trajectory in sales indicates a growing consumer preference and market share, even as top competitors like Tastebudz and Dialed In Gummies maintain higher ranks but experience fluctuating sales. For instance, Dialed In Gummies dropped from 3rd to 4th place in June, with a corresponding decline in sales, suggesting potential market volatility. These insights highlight Good Tide's robust performance and potential for future growth in the competitive Colorado edible cannabis market.
Notable Products
In June 2024, the top-performing product from Good Tide was the Pineapple Solventless Hash Rosin Gummies 10-Pack (100mg), maintaining its first-place ranking for four consecutive months with sales reaching 78,962 units. The Guava Solventless Hash Rosin Gummies 10-Pack (100mg) climbed to second place, showing a notable increase from its consistent third-place ranking in previous months. The Mellow Indica Mango Solventless Hash Rosin Gummies 10-Pack (100mg) dropped to third place after holding the second spot for three months. The Pineapple Solventless Hash Rosin High Dose Gummies 10-Pack (200mg) remained steady in fourth place, showing gradual sales growth. Lastly, the Guava Solventless Hash Rosin High Dose Gummies 10-Pack (200mg) maintained its fifth-place ranking, indicating stable performance since its introduction.
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