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Mar-2024
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Overview
Market Insights Snapshot
In the competitive cannabis market, Kaviar has shown notable performance across various categories and states, with a significant presence in Colorado, Illinois, Maryland, and Nevada. In Colorado, Kaviar's Pre-Roll category stands out with a consistent top-ranking, maintaining the 1st position from December 2023 to February 2024, and slightly dropping to 2nd in March 2024. This dominance is mirrored in their sales, with a notable figure of 741,665 in December 2023, although there was a slight decline to 681,006 by March 2024. Conversely, their Concentrates category has struggled to maintain a strong position, with rankings slipping from 77th in December 2023 to 86th by February 2024, indicating a challenging market segment for Kaviar in Colorado.
Outside of Colorado, Kaviar's performance varies significantly. In Illinois, their Flower category has shown resilience and growth, improving its ranking from 26th in December 2023 to 18th in January and February 2024, before slightly dropping to 21st in March 2024. This category's sales in Illinois saw a peak in January 2024, reaching over 1 million, showcasing Kaviar's strong market presence in the state. Meanwhile, in Maryland and Nevada, Kaviar's Pre-Roll category tells a story of fluctuation and opportunity. In Maryland, rankings improved from 16th in December 2023 to 16th again in March 2024, after a slight dip, with sales peaking at 144,002 in March 2024. However, in Nevada, the brand faced challenges, only entering the top 100 rankings in January 2024 and achieving a rank of 94th by March 2024, indicating a potential area for growth and increased market penetration.
Competitive Landscape
In the competitive landscape of the cannabis flower category in Illinois, Kaviar has shown a notable fluctuation in its market position from December 2023 through March 2024. Initially not ranking within the top 20 brands in December 2023, Kaviar made a significant leap to 18th place in January and February 2024, before slightly dropping to 21st in March. This trajectory suggests a volatile yet positive trend in Kaviar's market presence, contrasting with competitors like Cookies and Lula's, which have shown a downward and erratic trend, respectively. Meanwhile, Paul Bunyan and Tales & Travels have demonstrated more stability or improvement in their rankings, indicating a strong competitive stance. Kaviar's sales performance, showing a peak in January 2024 before a gradual decline, mirrors its rank changes and highlights the competitive pressures and dynamics within the Illinois flower market. This analysis underscores the importance of monitoring longer-term directional trends and the competitive interplay to understand Kaviar's position and strategize for market share growth.
Notable Products
In March 2024, Kaviar's top-selling product was the Gold Label - Sativa Infused Pre-Roll (1.5g) from the Pre-Roll category, maintaining its number one position with sales reaching 13,227 units. Following closely was the Gold Label - Indica Infused Pre-Roll (1.5g), also in the Pre-Roll category, securing the second spot with its consistent performance. The third place was held by Gold Label - Hybrid Infused Pre-Roll (1.5g), ensuring that the top three products all belonged to the Pre-Roll category. Notably, Forbidden Razittles Moonrocks (1g) from the Flower category made a significant leap to the fourth position in March, up from the fifth in February. This shift indicates a growing interest in the Flower category, despite the dominance of Pre-Rolls in Kaviar's sales rankings.
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