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Jun-2024
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Overview
Market Insights Snapshot
The performance of Kings & Queens in the category of Concentrates across Maryland has shown a downward trend over the past few months. Starting at rank 13 in March 2024, the brand slipped to rank 21 in April, 23 in May, and 24 in June. This decline in ranking suggests a decreasing market presence or increased competition within the state. Despite this, there was a notable increase in sales from May to June, indicating a potential recovery or seasonal demand spike. The fluctuation in rankings and sales figures highlights the volatility of the market and the challenges Kings & Queens faces in maintaining a strong foothold in Maryland's Concentrates category.
In the Vapor Pens category, Kings & Queens did not make it into the top 30 brands in Maryland for March, May, or June 2024, only appearing at rank 45 in April. This sporadic presence in the rankings suggests that the brand is struggling to gain traction in this category within the state. The absence from the top 30 for most months is a concerning indicator of their market performance in Vapor Pens. The data points to the need for strategic adjustments if Kings & Queens aims to improve its standing and capture a more significant share of the Vapor Pens market in Maryland.
Competitive Landscape
In the Maryland concentrates market, Kings & Queens has experienced notable fluctuations in its rank and sales over recent months. Starting strong in March 2024 with a rank of 13, Kings & Queens saw a significant drop to 21 in April, further declining to 23 in May, and finally to 24 in June. This downward trend in rank correlates with a decrease in sales from $52,277 in March to $26,853 in June. In contrast, competitors like Roll One maintained a higher rank of 16 in March, although they did not appear in the top 20 in subsequent months. gLeaf (Green Leaf Medical) showed resilience, climbing from 21 in March to 19 in April before dropping out of the top 20 in May and reappearing at 22 in June. Avexia and Momenta also made brief appearances in the rankings, with Avexia ranking 23 in June and Momenta ranking 24 in May. These shifts highlight the competitive nature of the Maryland concentrates market and suggest that Kings & Queens may need to reassess its strategies to regain its earlier momentum.
Notable Products
In June 2024, the top-performing product for Kings & Queens was Apple Earth Live Resin Badder (1g) in the Concentrates category, which jumped from fourth place in May to first place with sales reaching 189 units. Birthday Funk Infused Pre-Roll (1.5g) made a notable debut, securing the second position. Kush Crasher Live Resin Budder (1g) improved its ranking from fifth in May to third in June. White Grapefruit Cookies Live Resin Badder (1g) saw a slight decline, moving from second in May to fourth in June. Georgia Pie Terple Infused Pre-Roll (1.5g) entered the rankings at fifth place, indicating a strong performance for infused pre-rolls this month.
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