Jun-2024
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Overview
Market Insights Snapshot
IC Collective has shown a consistent presence in the Illinois cannabis market, particularly in the Concentrates category where it has maintained a steady ranking within the top 30 brands over the past few months. Starting at rank 25 in March, the brand fluctuated slightly but remained in the top 30, indicating a stable consumer base and market performance. This consistency is a positive sign for the brand's reputation and reliability in this category. However, their performance in the Vapor Pens category is less remarkable, as they failed to secure a spot in the top 30 in March and have been hovering around the 57th to 59th ranks since April. This suggests potential challenges in gaining traction in the Vapor Pens market segment.
In the Flower category, IC Collective has demonstrated a notable upward trend in Illinois. Despite starting outside the top 30 in March, their rank improved from 45th to 40th by June, accompanied by a significant increase in sales, peaking at $259,030 in June. This upward movement indicates growing consumer preference and market penetration for their Flower products. Conversely, the Pre-Roll category shows a more volatile performance. While IC Collective started at rank 44 in March and dropped to 47 in May, they rebounded to rank 39 in June. This fluctuation highlights potential inconsistencies in consumer demand or competitive pressures in the Pre-Roll segment. Overall, IC Collective's performance across different categories in Illinois reveals strengths in Concentrates and Flower, while highlighting areas for improvement in Vapor Pens and Pre-Rolls.
Competitive Landscape
In the competitive landscape of the Illinois flower category, IC Collective has shown a steady improvement in rank over the past few months, moving from 45th in March 2024 to 40th in June 2024. This upward trend indicates a positive reception and growing market presence. In comparison, Binske experienced fluctuations, peaking at 42nd in April 2024 but dropping out of the top 50 in June 2024. Meanwhile, Classix maintained a relatively stable position, though it saw a slight decline from 32nd in April 2024 to 37th in June 2024. Triple Seven also faced a downward trend, moving from 38th in March 2024 to 43rd in June 2024. The most notable competitor, pts: PURE, although experiencing a decline from 27th in March 2024 to 36th in June 2024, still maintains a higher rank than IC Collective. These insights suggest that while IC Collective is gaining traction, it faces strong competition from established brands like pts: PURE and Classix, which could influence its strategic marketing and sales efforts moving forward.
Notable Products
In June 2024, the top-performing product for IC Collective was T.I.T.S. Pre-Roll (1g), maintaining its first-place ranking for four consecutive months and achieving a notable sales figure of 2635 units. T.I.T.S. (3.5g) held steady in the second position, consistent with its ranking in May 2024. The Violet Chem Pre-Roll (1g) climbed to the third spot, up from fourth place in May. Lemon Diablo Pre-Roll (1g) slipped to fourth place from its previous third-place ranking. A new entry, Sweet Sting (3.5g), debuted in fifth place, indicating a promising start within the Flower category.