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Jun-2024
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Overview
Market Insights Snapshot
Hysteria's performance in the New York market, specifically within the Edible category, has shown some fluctuations over recent months. Starting from a rank of 12 in March 2024, the brand saw a slight decline to 15 in both April and May, and further down to 16 in June. This downward trend in rankings corresponds with a gradual decrease in sales, from $81,480 in March to $69,648 by June. The consistency in ranking at 15 for two consecutive months indicates some stability, but the overall trend suggests a need for strategic adjustments to regain higher positions in the market.
It is worth noting that Hysteria's presence in the top 30 brands in New York is commendable, but the drop in rank and sales signals potential challenges. The brand's ability to maintain a rank within the top 30 is a positive sign; however, the consistent decline in sales over four months could be a cause for concern. This data highlights the importance of closely monitoring market dynamics and consumer preferences to ensure sustained growth and competitiveness in the Edible category.
Competitive Landscape
In the competitive landscape of the New York edible cannabis market, Hysteria has shown a relatively stable performance, maintaining ranks between 12th and 16th from March to June 2024. However, the brand faces stiff competition from several notable players. For instance, 1906 saw fluctuations but managed to stay within the top 20, peaking at 14th in March and May. Tyson 2.0 demonstrated significant volatility, jumping from 28th in March to 12th in April, indicating a potential surge in consumer interest. Meanwhile, Pure Vibe experienced a decline, dropping from 11th in March to 19th in May, but slightly recovering to 17th in June. Snoozy also showed varying performance, peaking at 13th in April but falling to 18th by June. These dynamics suggest that while Hysteria maintains a consistent presence, it must innovate and adapt to stay competitive against brands that are either rapidly ascending or showing resilience in the market.
Notable Products
In June 2024, the top-performing product from Hysteria was the Cookies & Cream Chocolate Bar 10-Pack (100mg) in the Edible category, maintaining its first-place ranking with a sales figure of 1,067 units. The Dark Chocolate Bar 10-Pack (70mg) held steady at the second position, while the Milk Chocolate Bar 10-Pack (70mg) remained in third place. The Dark Chocolate Bar 10-Pack (100mg) saw an improvement, climbing to fourth position from its consistent fifth-place ranking in the previous months. Conversely, the Milk Chocolate Bar 10-Pack (100mg) dropped to fifth place from its previous fourth position. Overall, the top products showed minor shifts in rankings, with the Cookies & Cream Chocolate Bar continuing to dominate the sales chart.
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