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Apr-2024
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Overview
Market Insights Snapshot
In the competitive cannabis market, Incredibles has shown notable performance across various states, particularly in the edibles category. In Colorado, the brand saw a steady climb in rankings from 12th in January to 8th by April, indicating a positive trajectory and growing consumer preference. Similarly, in Illinois, Incredibles maintained a strong position, consistently ranking 3rd from January to April, underscoring its solid foothold in one of the more vibrant cannabis markets. However, it's important to note that while Incredibles performed well in these states, the brand experienced fluctuations in Massachusetts, moving from 5th to 8th and back up to 6th place over the same period, which could suggest varying consumer preferences or competitive dynamics within the state.
Looking at other states, Incredibles has demonstrated impressive stability and growth. In Nevada and Ohio, the brand consistently ranked within the top 3, showcasing strong consumer loyalty and brand strength in highly competitive markets. Specifically, in Ohio, the brand held the 2nd position firmly from January through April, reflecting a strong market presence. Meanwhile, in Maryland, the brand's ranking slightly declined from 3rd to 5th place over the four months, indicating potential challenges or increased competition in the state. These movements across different states highlight the dynamic nature of the cannabis market, where brand performance can vary significantly due to a myriad of factors including consumer preferences, regulatory changes, and competitive pressures.
Competitive Landscape
In the competitive landscape of the edible category in Illinois, Incredibles consistently maintains its position as the third-ranked brand through the first four months of 2024, showcasing stable market performance amidst fierce competition. Notably, Wana leads the pack with a significant sales lead, indicating a robust market preference and growth trend that outpaces Incredibles. Following closely behind is Wyld, which also demonstrates strong sales figures, securing the second rank consistently and further intensifying the competition for Incredibles. On the other hand, brands like Encore Edibles and Lost Farm trail behind Incredibles, occupying the fourth and fifth positions, respectively. This competitive analysis highlights the challenges and opportunities for Incredibles, emphasizing the need for strategic initiatives to capture a larger market share and possibly disrupt the rankings by outperforming its closest competitors, Wyld and Wana, in future sales and popularity within the Illinois market.
Notable Products
In April 2024, Incredibles saw the CBG/CBN/THC 1:1:2 Snoozzzierberry Gummies 10-Pack (50mg CBG, 50mg CBN, 100mg THC) leading the sales with a notable figure of 21,994 units, maintaining its top position from March. Following closely, the THC/CBN 5:1 Snoozzzeberry Gummies 10-Pack (100mg THC, 20mg CBN) secured the second rank, despite a drop in sales compared to the previous month. The Mile High Mint Chocolate Bar 10-Pack (100mg) climbed to the third rank, showing a consistent rise from its previous fourth position in February. Summer Peach Gummies 10-Pack (100mg) remained steady at the fourth position, indicating stable consumer demand. Notably, the Mon Cherry Gummies 10-Pack (100mg) made a comeback in the rankings at fifth place, demonstrating a fluctuating but persistent interest among consumers.
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