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Jun-2024
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Overview
Market Insights Snapshot
High Power has shown notable improvement in the Beverage category within California over the past few months. Starting at rank 24 in March 2024, the brand has steadily climbed to rank 17 by June 2024. This upward trend is indicative of increasing consumer preference and market penetration, with sales figures reflecting this positive movement. For instance, sales in the Beverage category rose from $19,276 in March to $43,354 in June. This significant growth underscores High Power's ability to capture market share and suggests a strong positioning within California's competitive beverage market.
In contrast, the brand's performance in the Tincture & Sublingual category in California has been less consistent. While High Power held the 23rd rank in March 2024, it did not appear in the top 30 rankings in April, only to reemerge at rank 22 in May and maintain this position in June. This fluctuation could indicate challenges in maintaining a stable market presence or competition from other brands. Despite this, the sales figures for Tincture & Sublingual products have remained relatively steady, hovering around the $12,000 mark, suggesting a loyal customer base that could be leveraged for future growth.
Competitive Landscape
In the competitive landscape of the California cannabis beverage market, High Power has shown a notable upward trend in its rankings and sales over the past few months. Starting from a rank of 24 in March 2024, High Power climbed to rank 17 by June 2024, indicating a consistent improvement in market presence. This upward trajectory is significant when compared to competitors like Habit, which saw a decline from rank 11 to 18 in the same period, and Mary Jones, which fluctuated but ultimately improved from rank 24 to 15. Meanwhile, Don Primo and Kan+Ade have remained relatively stable but did not exhibit the same level of growth as High Power. This positive trend for High Power suggests a growing consumer preference and market share, making it a brand to watch in the California cannabis beverage sector.
Notable Products
For June 2024, the top-performing product for High Power is Berry-Lean Syrup (1000mg THC, 200ml) in the Tincture & Sublingual category, maintaining its rank from previous months with sales of 350 units. Berry Syrup 4-Pack (1000mg THC, 200ml) in the Beverage category climbed to the second spot, showing a significant increase from its fourth position in April 2024. Berry Syrup (250mg), also in the Beverage category, ranked third, down from its top position in April 2024 but still showing strong sales figures. Watermelon Syrup (250mg) in the Beverage category secured the fourth position, demonstrating consistent performance despite missing from the May rankings. Lastly, Watermelon-Lean Syrup Tincture (1000mg THC, 200ml) in the Beverage category dropped to fifth place, showing a decline from its second position in March 2024.
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