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Jun-2024
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Overview
Market Insights Snapshot
Jade Nectar has shown a consistent performance in the California market, particularly in the Tincture & Sublingual category. Over the past four months, the brand's ranking has fluctuated slightly but remained within the top 10, indicating a strong presence. In March 2024, Jade Nectar held the 7th position, and despite a dip to 8th place in April and May, it climbed back up to 6th in June. This upward movement in June suggests a positive trend and potential growth in consumer preference or market strategies that could be worth further exploration.
Notably, Jade Nectar's sales figures also reflect interesting trends. While there was a noticeable drop in sales from March to April, from approximately $203,977 to $147,419, the subsequent months saw a recovery with sales figures rising to $173,463 in May and slightly increasing again in June to $175,228. This recovery in sales, coupled with the improvement in ranking, highlights a resilient performance in the competitive California market. However, the absence of Jade Nectar in the top 30 rankings in other states or categories could be a point of concern or an area with potential for market expansion.
Competitive Landscape
In the competitive landscape of the Tincture & Sublingual category in California, Jade Nectar has experienced notable fluctuations in its ranking and sales over recent months. Despite a dip in April and May 2024, where it ranked 8th, Jade Nectar rebounded to 6th place in June 2024. This recovery is significant, especially considering the consistent performance of competitors like VET CBD, which maintained a stable 4th place ranking, and Mary's Medicinals, which held 5th place for three consecutive months. Meanwhile, Friendly Farms saw a decline, dropping from 6th to 8th place by June 2024, potentially benefiting Jade Nectar's upward movement. Additionally, Proof remained steady at 7th place, indicating a competitive but stable market environment. These shifts suggest that while Jade Nectar faces stiff competition, its ability to climb back up the ranks demonstrates resilience and a potential for growth, making it a brand to watch in the coming months.
Notable Products
In June 2024, the top-performing product for Jade Nectar was CBD/THC 30:1 CBD Drops (900mg CBD, 30mg THC, 30ml), maintaining its consistent first-place ranking with sales of 1294 units. Indica High Potency Tincture (1000mg THC, 30ml) climbed to the second position, up from fourth place in the previous months, with notable sales growth. Indica Sativa High Potency Blend Tincture (1000mg THC, 30ml) held steady in third place, showing improved sales figures. Sativa Tincture Drops (1000mg THC, 30ml) dropped to the fourth position from its previous second place. CBD/THC 20:1 CBD Drops for Pets (300mg CBD, 15mg THC, 30ml) remained in fifth place, indicating stable performance in the pet product category.
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