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Jun-2024
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Overview
Market Insights Snapshot
Highly Casual has demonstrated a consistent performance in the Beverage category within Michigan. Over the past four months, the brand has maintained a strong presence, securing the 6th rank in March, May, and June, while slightly dipping to the 8th position in April. Notably, the brand's sales have shown a positive trend, increasing from $56,022 in March to $89,896 in June. This steady rank and sales growth indicate a solid foothold in the Michigan market, suggesting that Highly Casual is effectively resonating with consumers in this state.
However, Highly Casual's performance across other states and categories is less clear. The absence of ranking data for other states and categories implies that the brand did not make it into the top 30 in those segments, which could be concerning. This gap in presence highlights areas for potential improvement or strategic focus for the brand. By analyzing these trends and identifying underperforming regions or categories, Highly Casual can better allocate resources and marketing efforts to enhance its market penetration and overall brand performance.
Competitive Landscape
In the competitive landscape of the Michigan beverage category, Highly Casual has shown a steady performance, maintaining its rank at 6th place in both May and June 2024, after a slight dip to 8th place in April 2024. This consistency is notable given the fluctuating ranks of competitors. For instance, Chill Medicated experienced a significant drop from 4th place in March to 8th place by May and June, indicating potential market volatility. Meanwhile, Pleasantea has consistently outperformed Highly Casual, holding the 5th rank from April through June. Northern Connections has maintained a strong position, consistently ranking 3rd or 4th throughout the period. Despite these competitive pressures, Highly Casual's upward sales trajectory, culminating in a notable increase to $89,896 in June, suggests a strengthening market presence. This trend underscores the importance of leveraging advanced data analytics to sustain and enhance market positioning amidst dynamic competitive shifts.
Notable Products
In June 2024, the top-performing product for Highly Casual was Honeycrisp Apple Hang Ten Seltzer (10mg), maintaining its number one rank from the previous month with sales of 2430 units. Following closely was High 5 - CBD/THC 1:1 Strawberry & Watermelon Seltzer 4-Pack (20mg CBD, 20mg THC), which held the second position consistently over the past two months, achieving 1719 units in sales. High 5 - CBD/THC 1:1 Blueberry & Pineapple Seltzer 4-Pack (20mg CBD, 20mg THC) also remained stable at third place, continuing its upward sales trend. High 5 - CBD/THC 1:1 Lemon & Lime Seltzer 4-Pack (10mg CBD, 10mg THC) secured the fourth spot, showing a slight increase in sales from May to June. Lastly, Strawberry & Watermelon Seltzer 4-Pack (8mg) retained its fifth position, indicating steady performance in the market.
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