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Jun-2024
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Overview
Market Insights Snapshot
Highatus has shown a consistent performance in the Edible category across California. The brand has maintained its position at rank 10 for three consecutive months from April to June 2024, following a slight improvement from rank 11 in March. This stability suggests a solid consumer base and effective market strategies. Despite a dip in sales from $745,040 in May to $666,111 in June, Highatus has managed to retain its top 10 ranking, indicating resilience in a competitive market.
However, it's worth noting that Highatus did not appear in the top 30 brands for the Edible category in other states or provinces during the same period. This absence could be seen as a limitation in their market penetration outside of California. While the brand shows strength in its home state, there is potential for growth and expansion into new markets. The consistent ranking in California provides a strong foundation from which Highatus can build and diversify its presence in other regions.
Competitive Landscape
In the California edibles market, Highatus has consistently maintained its position at rank 10 from April to June 2024, showing resilience amidst fluctuating sales. Notably, Plus has held a stable rank of 8, although their sales have seen a downward trend from March to June. This indicates that while Highatus is close in rank, there is a significant gap in sales volume compared to Plus. Meanwhile, Good Tide has also remained steady at rank 9, with a gradual decline in sales, suggesting potential opportunities for Highatus to overtake if it can boost its sales. Drops has shown some variability, moving from rank 12 in March to rank 11 in June, which could signal a competitive threat if their upward trend continues. Lastly, Emerald Sky has fluctuated between ranks 12 and 13, indicating a less stable position in the market. For Highatus, maintaining its rank while increasing sales could be key to climbing higher in the competitive landscape.
Notable Products
In June 2024, the top-performing product from Highatus was CBD:CBN:THC 1:1:1 Blueberry Sour Gummies 10-Pack (100mg CBD, 100mg CBN, 100mg THC), which moved up from third place to first with notable sales of 10,098 units. Sour Strawberry Lemonade Gummies 10-Pack (100mg), previously holding the top spot for three consecutive months, fell to second place. Sour Pineapple Gummies 10-Pack (100mg) maintained its third-place ranking for the fourth month in a row. Sour L'Orange Gummies 10-Pack (100mg) climbed from fifth to fourth place, while Indica Sour Watermelon Nighttime Gummies 10-Pack (100mg) dropped from fourth to fifth place. This shift in rankings indicates a strong performance boost for the CBD:CBN:THC Blueberry Sour Gummies while other products experienced a slight decline in sales.
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