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Jun-2024
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Overview
Market Insights Snapshot
Howl's has shown a consistent performance in the Massachusetts Tincture & Sublingual category over recent months. The brand started strong with a rank of 3 in March 2024, but experienced a slight drop to 4 in April and maintained this position through May and June. Despite the drop, Howl's has managed to stay within the top 5, indicating a stable presence in the market. However, the sales figures tell a different story; there was a notable decline from $81,036 in March to $30,520 in June. This downward trend in sales might suggest a need for new strategies or product innovations to regain momentum.
Interestingly, Howl's did not make it into the top 30 brands in any other states or categories during this period, which could be seen as a significant area for improvement. The brand's focus on Massachusetts highlights a potential regional strength, but the lack of presence in other markets might limit its overall growth potential. For a brand aiming to expand its footprint, diversifying across different states and categories could be crucial. This data suggests that while Howl's is performing well in one specific niche, there's ample room for growth and expansion into new territories.
Competitive Landscape
In the Massachusetts Tincture & Sublingual category, Howl's has experienced a notable decline in rank and sales over the past few months. Starting at rank 3 in March 2024, Howl's dropped to rank 4 by April 2024 and maintained that position through June 2024. This downward trend in rank is mirrored by a significant decrease in sales, from $81,036 in March to $30,520 in June. In contrast, competitors like Treeworks and Levia have maintained their top positions, with Treeworks consistently holding the number 1 spot and Levia at number 2. Treeworks, in particular, shows a robust upward sales trajectory, increasing from $467,727 in March to $508,510 in June. The consistent performance of these competitors suggests that Howl's needs to reassess its market strategy to regain its competitive edge. Meanwhile, Doctor Solomon's has also shown stability, holding the 5th position in both May and June, indicating a steady market presence. The entry of HALO by Rebelle at rank 7 in June further intensifies the competition, highlighting the need for Howl's to innovate and adapt to changing market dynamics.
Notable Products
In June 2024, the top-performing product for Howl's was Daytime Tincture (500mg), maintaining its consistent rank of 1st place from previous months with notable sales of 111 units. Nighttime Tincture (500mg) saw a significant rise to the 1st place tie, matching Daytime Tincture's sales figures. Anytime Tincture (500mg THC, 1/3oz) improved its rank to 2nd place, up from 3rd in May 2024, with sales increasing to 86 units. CBD/THC 10:1 High CBD Tincture (500mg CBD, 50mg THC, 1/3oz) entered the rankings at 3rd place, while Special Edition - Earth Tincture (210mg) debuted at 4th place. Overall, Howl's products showed dynamic changes in rankings, reflecting varying consumer preferences across the months.
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