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Jun-2024
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Overview
Market Insights Snapshot
Hi5 Seltzer has demonstrated notable performance in the Beverage category across several states, with particularly strong showings in Massachusetts. In Massachusetts, Hi5 Seltzer maintained a consistent rank of 4th place from March to May 2024 before climbing to 3rd place in June 2024. This upward movement in the rankings is complemented by a steady increase in sales, culminating in a significant sales figure for June. The brand's ability to ascend in rankings while also increasing sales indicates a strong consumer acceptance and growing market presence within the state.
However, the performance of Hi5 Seltzer in other states is less clear, as it did not make it into the top 30 brands in those markets. This absence can be interpreted in different ways, but it suggests that Hi5 Seltzer may either be focusing its efforts more intensively in states like Massachusetts or that it faces stiffer competition in other regions. The brand's notable success in Massachusetts could serve as a strategic model for expansion into other states, leveraging its strengths to improve rankings and sales figures elsewhere. By analyzing these trends, stakeholders can better understand the brand's market dynamics and potential areas for growth.
Competitive Landscape
In the Massachusetts cannabis beverage market, Hi5 Seltzer has shown a notable upward trend in its rankings and sales over the past few months. Despite maintaining a steady fourth place in March and April 2024, Hi5 Seltzer experienced a significant boost in May, maintaining its rank but increasing its sales to 176,989 units, and then climbed to third place in June with 213,599 units sold. This upward trajectory is particularly impressive given the competitive landscape. Chill Medicated, which started the period as the top brand, saw a decline to fourth place by June, indicating a potential opportunity for Hi5 Seltzer to capture more market share. Meanwhile, Levia and Good Feels Inc have consistently held higher ranks, with Good Feels Inc securing the top spot in June. The data suggests that while Hi5 Seltzer is on an upward trend, it faces stiff competition from these established brands, making it crucial for Hi5 Seltzer to continue its growth momentum to further improve its market position.
Notable Products
In June 2024, the top-performing product for Hi5 Seltzer was Black Cherry Infused Seltzer 4-Pack (20mg), which ranked first with sales of 1577 units, maintaining its top position from previous months. The CBD:THC 2:1 Micro Peach Mango Seltzer 4-Pack (20mg CBD, 10mg THC) secured the second spot, showing a significant rise from May. Blueberry Lemonade Seltzer 4-Pack (20mg) entered the rankings at third place, demonstrating strong sales performance. Peach Mango Infused Seltzer (5mg) remained steady at fourth place, indicating consistent demand. Pomegranate Seltzer 4-Pack (20mg) dropped to fifth place, reflecting a slight decrease in its ranking compared to earlier months.
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