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Jun-2024
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Overview
Market Insights Snapshot
Green Envy has shown a somewhat volatile performance across different states and categories over the past few months. In Washington, the brand's ranking in the Concentrates category has fluctuated, starting at 19th place in March 2024, dropping to 27th in April, and then recovering to 20th and 21st in May and June, respectively. This indicates a struggle to maintain a consistent position within the top 20, reflecting a competitive market landscape. The sales figures also show a notable decline from March to April, followed by a recovery in May, but a slight dip again in June, suggesting that while the brand can regain momentum, sustaining it remains a challenge.
Interestingly, the absence of Green Envy from the top 30 brands in other states and categories could be seen as a significant area for improvement. This lack of presence indicates missed opportunities in expanding their market reach and diversifying their product portfolio. For instance, not ranking in any other state or category besides Concentrates in Washington suggests that Green Envy may need to reassess its market strategy or product offerings to gain a foothold in other lucrative markets. Despite these challenges, the brand's ability to bounce back in Washington's Concentrates category showcases its potential for resilience and adaptability in a highly competitive industry.
Competitive Landscape
In the competitive landscape of the Washington concentrates market, Green Envy has experienced notable fluctuations in rank and sales over recent months. While Green Envy held the 19th position in March 2024, it dropped out of the top 20 in April, only to re-enter at 20th in May and slightly decline to 21st in June. This volatility contrasts with the more stable performance of competitors like Sitka, which consistently improved its rank, moving from 22nd in March to 19th in June. Similarly, Lifted Cannabis Co maintained a relatively stable presence, though it saw a slight decline from 17th in March to 23rd in June. Meanwhile, Bodega Buds showed strong performance, peaking at 14th in March before settling at 20th in June. On the other hand, Dab Man exhibited a more erratic pattern, fluctuating between 21st and 27th positions. These dynamics suggest that while Green Envy faces stiff competition, particularly from brands with more consistent rankings, there is potential for recovery and growth if strategic adjustments are made.
Notable Products
In June 2024, the top-performing product from Green Envy is 9lb Hammer Wax (1g) in the Concentrates category, which reclaimed its first position with sales reaching 1865 units. Blackberry Cobbler Wax (1g) dropped to the second position after leading in the previous two months, with notable sales of 1523 units. Fruity Pebbles Wax (1g) maintained its third-place ranking consistently over the past three months. Apple Jax Wax (1g) moved up to fourth place after debuting in May. Hawaiian Punch Wax (1g) entered the rankings in June, securing the fifth position.
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