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Mar-2024
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Overview
Market Insights Snapshot
In the cannabis market, the performance of High Supply / Supply across various categories and states/provinces shows a mixed yet insightful trend. In Illinois, the brand holds a commanding presence, particularly in the Flower category, consistently ranking 1st from December 2023 to March 2024, with sales peaking at over 11 million in March. This dominance is a testament to the brand's strong market penetration and consumer preference in the state. Conversely, in Michigan, while still performing well in the Flower category, the brand saw a slight decline, moving from 1st to 3rd position by March 2024, despite an increase in sales. This indicates a highly competitive market in Michigan where even top performers must continuously innovate to maintain their rankings. The brand's performance in the Vapor Pens category in Michigan also highlights challenges, with a significant drop from 59th to 78th, suggesting a need for strategic adjustments to regain market share in this segment.
Looking at newer markets, High Supply / Supply has shown promising growth in categories such as Concentrates in Arizona, improving from 69th in December 2023 to 38th by March 2024. This upward trajectory, especially with a substantial increase in sales in February, underscores the brand's expanding footprint and consumer acceptance in emerging markets. However, the brand's absence in the top 30 rankings in several categories and states, such as Flower in Maryland for January and February 2024, points to areas where the brand has yet to establish a strong presence or is facing stiff competition. In Massachusetts, the brand maintains a strong position in the Flower and Concentrates categories, ranking 2nd and improving significantly in Concentrates from 19th to 7th by March 2024. This reflects a strategic success in diversifying its product offerings and capturing market share across different cannabis product categories in a mature market.
Competitive Landscape
In the competitive landscape of the cannabis flower category in Illinois, High Supply / Supply has maintained its top position consistently from December 2023 through March 2024, showcasing its dominance in the market. Its closest competitors, Ozone and Rythm, have also held steady in their respective ranks, with Ozone securing the second spot and Rythm fluctuating slightly but generally holding the third position. Despite the shifts in sales figures across these months, High Supply / Supply has not only managed to stay ahead but also increased its lead, particularly noticeable in March 2024 where its sales surged significantly. This trend indicates a growing consumer preference for High Supply / Supply over its competitors, potentially due to factors such as product quality, brand loyalty, or marketing strategies. The consistent ranking and upward sales trajectory of High Supply / Supply in comparison to its competitors highlight its strong market presence and potential for continued growth in Illinois's cannabis flower category.
Notable Products
In Mar-2024, High Supply / Supply's top-performing product was Lemon Sugar (3.5g) within the Flower category, securing the first rank with notable sales of 8788 units. Following closely, Gelatti x Peanut Butter Souffle (28g) took the second position, showing a slight drop from its previous top rank in Jan-2024 but still managed to sell 7496 units. Grease Monkey x Tina (3.5g) climbed up to the third rank, despite being fourth and fifth in the preceding months, indicating a steady increase in popularity. Chocolate OG Shake (7g) made its first appearance in the rankings at the fourth position, a significant achievement for a new entrant. Lastly, Blue Brick Road (3.5g) saw a decline to the fifth rank in Mar-2024 after leading in Feb-2024, illustrating the competitive nature and fluctuating preferences within High Supply / Supply's product lineup.
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