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Mar-2024
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Overview
Market Insights Snapshot
In the competitive edible market, Kiva Chocolate has shown varied performance across different states and provinces, with some notable trends and movements worth mentioning. In California, Kiva Chocolate has maintained a strong position within the top 10 brands for edibles, fluctuating slightly but holding steady at the 9th and 10th spots from December 2023 to March 2024. This consistency in one of the largest cannabis markets highlights the brand's strong consumer base and popularity. Meanwhile, in Massachusetts, Kiva Chocolate has seen positive movement, climbing from the 19th position in December 2023 to the 17th by March 2024, indicating a growing acceptance and perhaps an effective marketing strategy within the state. However, not all movements have been upward; in Michigan, the brand experienced a slight decline, moving from the 26th to the 27th position over the same period, suggesting challenges in maintaining its market share amidst fierce competition.
On the other end of the spectrum, Kiva Chocolate's performance in some markets indicates areas for improvement or potential untapped opportunities. For instance, in Missouri, the brand was not within the top 30 brands in December 2023 but showed significant improvement, jumping to the 49th position by January 2024 and maintaining a similar rank through March 2024. This dramatic entrance into the Missouri market could reflect initial distribution challenges or growing brand awareness among consumers. In Ontario, the brand's ranking improved from 86th in December 2023 to 74th by March 2024, despite not being ranked in February, which could indicate fluctuating market dynamics or inventory issues. These movements across various states and provinces underscore the complex landscape Kiva Chocolate navigates, with each market presenting its own set of challenges and opportunities for growth.
Competitive Landscape
In the competitive landscape of the edible category within California's cannabis market, Kiva Chocolate has experienced slight fluctuations in its ranking, moving from 9th place in December 2023 to 10th by March 2024. This shift reflects a challenging environment, particularly with the rise of Good Tide, which climbed from 10th to 8th place in the same period, indicating a stronger performance in sales and market preference. Conversely, Plus has seen a decrease in rank from 7th to 9th, closely aligning with Kiva's position but still maintaining a lead in sales. Meanwhile, Clsics and Highatus have shown variability but remain competitive, with Clsics notably increasing its sales and securing the 11th position by March 2024, just behind Kiva. These movements suggest a highly competitive market where brand positioning and sales are in constant flux, emphasizing the need for Kiva Chocolate to innovate and adapt to maintain and improve its market standing.
Notable Products
In Mar-2024, Kiva Chocolate's top-performing product was the THC:THCV 2:1 Sour Energy Tropical Burst Gummies 10-Pack (100mg THC, 50mg THCV) from the Edible category, maintaining its rank as number 1 with sales figures reaching 17,506 units. Following in second place was the Milk Chocolate Bar 20-Pack (100mg), also from the Edible category, holding steady at its previous rank. The Dark Chocolate Munchies Bar 20-Pack (100mg) rose to the third position, showing improvement from its earlier fourth-place ranking, indicating a growing preference among consumers. The Churro Milk Chocolate Bar 20-Pack (100mg) saw a slight decline, moving from the third to the fourth position, reflecting a shift in consumer tastes or purchasing patterns. A notable newcomer to the rankings in March was the THC/CBN 5:2 Midnight Mint Dark Chocolate Bar 20-Pack (100mg THC, 40mg CBN), entering directly into the fifth spot, showcasing the dynamic nature of consumer preferences within the Kiva Chocolate range.
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