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Apr-2024
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Overview
Market Insights Snapshot
In the competitive edible category, Good Tide has shown notable performance variations across states, with its presence strengthening in some markets while facing challenges in others. For instance, in California, Good Tide maintained a steady rank at 9th position from January to April 2024, showcasing consistent consumer demand and strong market penetration in one of the largest cannabis markets. This stability is contrasted by its performance in Arizona, where the brand was not ranked in the top 30 for the first two months of the year but made a significant jump to 9th in March and then slightly fell to 14th in April. Such movements indicate a growing interest and acceptance in Arizona, albeit with some volatility. Moreover, the brand's entry into the Nevada market in April at the 16th position suggests an expanding footprint, though it's too early to predict its trajectory in this new market.
Looking at sales figures and rankings across other states, Good Tide's strategic movements and growth can be further analyzed. In Michigan, the brand saw a remarkable improvement, climbing from 24th in January to 10th by April, indicating a successful push in market share and consumer preference within the state. This upward trend in Michigan, coupled with solid performance in Colorado where it held the 6th rank consistently, highlights Good Tide's ability to capture and maintain significant market positions. Conversely, in Illinois, while the brand improved its rank from 23rd to 16th from January to March, it experienced a slight dip back to 19th in April, suggesting a potential challenge in sustaining its growth momentum amidst the competitive landscape. These dynamics across states underscore the brand's varying degrees of success and the competitive challenges it faces in expanding its market presence and consumer base in the edible category.
Competitive Landscape
In the competitive landscape of the edible category in California, Good Tide has demonstrated a consistent performance, maintaining its 9th rank from January to April 2024. This stability in ranking is notable, especially when compared to its competitors. For instance, Smokiez Edibles and Plus have consistently held the 7th and 8th spots, respectively, indicating a slightly higher sales volume compared to Good Tide. However, Good Tide's sales have shown an upward trajectory, suggesting a growing consumer preference that could potentially challenge these competitors in the future. On the other hand, brands like Clsics and Highatus have fluctuated in their rankings but remained below Good Tide, highlighting Good Tide's ability to maintain a strong position amidst competitive pressures. This analysis underscores Good Tide's solid standing in the market and hints at its potential for further growth and increased market share within California's edible category.
Notable Products
In April 2024, Good Tide's top-selling product was the Uplifting Sativa Pineapple Solventless Hash Rosin Gummies 10-Pack (100mg) with sales reaching 69,787 units, maintaining its number one rank consistently over the past four months. Following closely, the Mellow Indica Mango Solventless Hash Rosin Gummies 10-Pack (100mg) and Balanced Hybrid Guava Solventless Hash Rosin Gummies 10-Pack (100mg) secured the second and third positions, respectively, also holding their ranks steady over the same period. The Uplifting Sativa Pineapple Solventless Hash Rosin High Dose Gummies 10-Pack (200mg) showed a notable improvement, moving up to the fourth rank in April from the fifth position in February. The Balanced Hybrid Guava Solventless Hash Rosin High Dose Gummies 10-Pack (200mg) rounded out the top five, despite a slight rank fluctuation in previous months. These rankings indicate a stable consumer preference for Good Tide's edible category, with particular favor towards their solventless hash rosin gummies.
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