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Jun-2024
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Overview
Market Insights Snapshot
Lagunitas has shown varying performance across different categories and states, with notable movements in rankings. In California, the brand has maintained a strong presence in the Beverage category. For the months of March through June 2024, Lagunitas ranked 7th, 6th, 7th, and 9th respectively. Despite a slight decline in June, the brand's performance in California indicates a consistent demand within the top 10 rankings, showcasing its resilience in a competitive market.
However, the absence of Lagunitas in the top 30 brands in other states and categories is a point of concern. This lack of presence outside California suggests that the brand's appeal might be geographically limited or that it faces stiffer competition in other regions. The fluctuations in monthly sales figures further underscore the importance of strategic market positioning to maintain and improve rankings. For instance, the sales dip in June in California could be indicative of either seasonal trends or increased competition, warranting a closer look into market dynamics.
Competitive Landscape
In the highly competitive California cannabis beverage market, Lagunitas has experienced notable fluctuations in its rank and sales over recent months. In March 2024, Lagunitas held the 7th position, improving to 6th in April, but then dropping back to 7th in May and further down to 9th in June. This downward trend in rank is mirrored by a significant decline in sales from $232,814 in April to $144,714 in June. Competitors such as Canna-Lean have shown more stability and growth, consistently ranking higher and maintaining robust sales figures, peaking at 5th rank in May. Meanwhile, Almora Farms has also outperformed Lagunitas, showing a steady rank and strong sales, particularly in June. On the other hand, Lime and Sip Elixirs have struggled more, with Lime dropping out of the top 10 in April and May and Sip Elixirs consistently ranking lower. These dynamics suggest that while Lagunitas remains a significant player, it faces intense competition and must strategize to regain its higher market position.
Notable Products
For June 2024, the top-performing product from Lagunitas is Hi-Fi Sessions - Hoppy Chill Sparkling Water (10mg THC, 12oz), which ranked first with sales of 8,131 units. This product has consistently been among the top performers, climbing from the third position in April 2024. HiFi Sessions- Mango Sparkling Water (10mg) took the second spot, having dropped from its first position in both April and May 2024. Hi-Fi Sessions - CBD/THC 1:1 Cloudberry Infused Sparkling Water (2mg CBD, 2mg THC, 12oz) maintained its third position, showing steady performance. Finally, Hi-Fi Sessions - CBD/THC 1:1 Hoppy Balance Infused Sparkling Water (5mg CBD, 5mg THC, 12oz) ranked fourth, up from its non-ranking in April, demonstrating a significant improvement in sales.
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