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Mar-2024
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Overview
Market Insights Snapshot
In Massachusetts, Levia has shown a dominant performance in the Beverage category, maintaining the number 1 rank consistently from December 2023 through March 2024. Despite a slight decrease in sales figures over these months, from $281,190 in December to $223,092 in March, Levia's stronghold in this category is evident. This trend indicates a robust consumer preference and market leadership within the state's cannabis beverage sector. In contrast, Levia's performance in the Tincture & Sublingual category within the same state also remained stable at rank 2 across the observed months. However, a more pronounced decline in sales from $211,265 in December to $156,882 in March suggests a need to closely monitor market dynamics and consumer preferences in this segment to maintain its competitive edge.
Levia's journey in the Nevada market tells a different story, particularly in the Tincture & Sublingual category. Starting at rank 16 in December 2023 and experiencing fluctuations up to rank 12 in February 2024 before settling at rank 13 in March, these movements reflect a volatile position in a competitive landscape. The sales in Nevada, although significantly lower compared to Massachusetts, showed an interesting pattern with an increase from $1,666 in December to $2,375 in February, before a decrease to $1,454 in March. This fluctuation in ranking and sales underscores the challenges and opportunities Levia faces in expanding its footprint and adapting to consumer preferences in different states. The absence from the top 30 brands in any other category or state during these months could be seen as an area for growth or a strategic focus on its current strongholds.
Competitive Landscape
In the competitive landscape of the cannabis beverage category in Massachusetts, Levia has maintained its top position from December 2023 through March 2024, showcasing its dominance in the market. Despite a slight decline in sales over these months, Levia has consistently outperformed its closest competitors, Chill Medicated and Hi5 Seltzer, which have secured the second and third ranks respectively during the same period. Chill Medicated, while trailing behind Levia, has shown a positive trend in sales, closing the gap slightly in March 2024. On the other hand, Hi5 Seltzer, despite maintaining its third-place position, has seen a more modest increase in sales. This competitive analysis highlights Levia's strong market presence but also signals a need to watch closely as competitors like Chill Medicated are on an upward trajectory, potentially challenging Levia's lead in the future.
Notable Products
In Mar-2024, Levia's top-performing product was Achieve - Raspberry Lime Sativa Seltzer (5mg THC, 12oz) in the Beverage category, maintaining its number one rank from previous months with sales figures reaching 13,475 units. Following closely, Celebrate - Hybrid Lemon Lime Seltzer (5mg THC, 12oz) and Dream - Indica Jam Berry Seltzer (5mg THC, 12oz) secured the second and third positions, respectively, consistent with their performance in the preceding months. Notably, the Winter Seasonal - Hybrid Pomegranate Punch Seltzer (5mg THC, 12oz) also retained its fourth position, although it experienced a significant drop in sales to 2,957 units. A new entrant, Seasonal - Pineapple Express Sativa Seltzer (5mg THC, 12oz), made its debut in the rankings at the fifth position, indicating a potential shift in consumer preferences or expansion of Levia's product line.
Top Selling Cannabis Brands
