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Jun-2024
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Overview
Market Insights Snapshot
Kingpen has shown varied performance across different categories and states in recent months. In California, the brand's ranking in the Pre-Roll category has seen a slight decline from March to June 2024, moving from 7th to 8th place. Despite this downward trend, Kingpen remains within the top 10, indicating a relatively strong position in this category. However, the Vapor Pens category tells a different story, with Kingpen's rankings slipping from 27th in March to 29th in June 2024. This indicates that Kingpen is struggling to maintain its foothold in the highly competitive Vapor Pens market in California, and it did not make it into the top 20 in this category during this period.
Sales figures also reflect these trends. In the Pre-Roll category, Kingpen's sales have been decreasing steadily from March to June, with a notable drop in June 2024. This decline in sales aligns with the brand's slight drop in rankings. On the other hand, in the Vapor Pens category, sales have also been on a downward trajectory, which is consistent with the brand's declining rankings. The consistent presence of Kingpen in the top 30 for both categories in California, despite the downward trend, suggests that while the brand faces challenges, it still maintains a significant market presence.
Competitive Landscape
In the competitive landscape of the California pre-roll category, Kingpen has experienced a slight decline in rank and sales over the past few months. Starting at rank 7 in March 2024, Kingpen dropped to rank 8 in April, further to rank 9 in May, and then regained a position to rank 8 in June. This downward trend in rank is mirrored by a consistent decrease in sales, from $1,761,454 in March to $1,342,766 in June. In comparison, Lowell Herb Co / Lowell Smokes maintained a more stable position, holding rank 7 from April to June, with sales showing a less steep decline. Meanwhile, West Coast Cure followed a similar trajectory to Kingpen, dropping from rank 8 to 10 before climbing back to 9, but with lower overall sales figures. Notably, Pure Beauty consistently outperformed Kingpen, maintaining higher ranks and showing a significant sales increase in June. The competitive pressure from these brands suggests that Kingpen needs to strategize effectively to regain its market position and boost sales in the California pre-roll market.
Notable Products
For June 2024, Kingpen's top-performing product remains Kingroll - Cannalope Ak x Cannalope Kush Oil Infused Pre-Roll (1.3g), maintaining its consistent rank of 1.0 with sales of 12,223 units. Following closely is Kingroll Jr - Cannalope Ak x Cannalope Kush Infused Pre-Roll 4-Pack (3g) at rank 2.0, showing stable performance over the past months. Kingroll Jr - Sativa Variety Infused Pre-Roll 4-Pack (3g) holds the third position, with a notable increase in sales from 4,887 units in May to 5,424 units in June. Kingroll Jr - Indica Variety Infused Pre-Roll 4-Pack (3g) remains steady at rank 4.0. The Kingroll - Mango Kush x Cannalope Kush Infused Pre-Roll (1.3g) reappears at rank 5.0 after missing in May, showing resilience in the product lineup.
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