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Jun-2024
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Overview
Market Insights Snapshot
Lillybear's performance in the Edible category in Maryland has shown a noticeable decline over the past few months. In March 2024, the brand was ranked 24th, but by June 2024, it had slipped to 30th place. This downward trend is concerning, particularly as the brand's sales have decreased from $70,733 in March to $35,869 in June. The consistent drop in both ranking and sales indicates that Lillybear is struggling to maintain its position in the highly competitive Maryland Edible market.
It's important to highlight that Lillybear's fluctuating rankings suggest volatility in their market presence. Falling out of the top 30 brands in Maryland's Edible category would be a significant setback, as it indicates reduced visibility and consumer preference. While the brand managed to stay within the top 30, the continuous decline in rank and sales volume suggests that Lillybear needs to reassess its market strategies to regain and stabilize its position. Observing these movements can provide valuable insights into the brand's overall performance and potential areas for improvement.
Competitive Landscape
In the Maryland edible cannabis market, Lillybear has experienced notable fluctuations in its ranking and sales over the past few months. From March to June 2024, Lillybear's rank dropped from 24th to 30th, indicating a significant decline in its market position. This downward trend is concerning, especially when compared to competitors like Fireball Cannabis and Lux by CannAscend. Fireball Cannabis, despite starting at a lower rank of 30th in March, managed to climb to 28th by June, showing a more stable performance. Similarly, Lux by CannAscend maintained a relatively steady rank, fluctuating between 23rd and 27th. The sales figures for these competitors also highlight the challenge for Lillybear, as both Fireball Cannabis and Lux by CannAscend reported higher sales in several months, with Lux by CannAscend peaking at 78,386 in May. This competitive landscape suggests that Lillybear needs to reassess its strategies to regain its market share and improve its ranking in the Maryland edible category.
Notable Products
In June 2024, the top-performing product for Lillybear was Chocolate Freeze Dried Astro Bites 10-Pack (100mg), maintaining its first-place rank from May with sales of 388 units. Strawberry Freeze Dried Astro Bites 10-Pack (100mg) ranked second, consistently holding a top-two position since April. Neapolitan Freeze Dried Astro Bites 10-Pack (100mg) climbed to third place from fifth in May, showing a notable increase in popularity. Vanilla Freeze Dried Astro Bites 10-Pack (100mg) remained steady in fourth place, indicating stable demand. Milk Chocolate Hazelnut Coffee Creamer 10-Pack (100mg) dropped to fifth place from third in the previous months, reflecting a significant decrease in sales performance.
Top Selling Cannabis Brands
