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Jun-2024
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Overview
Market Insights Snapshot
Lime's performance across categories in California shows a mix of stability and fluctuation. In the Beverage category, Lime consistently ranked within the top 15, with a slight dip from 8th in March to 11th in April, and then maintaining a steady position at 10th in both May and June. This indicates a stable presence in the Beverage market despite a decrease in sales from $188,753 in March to $124,238 in June. The Concentrates category also saw minor fluctuations, with Lime moving from 13th in March to 14th in April, then improving to 12th in May before dropping back to 14th in June. This suggests a relatively consistent performance, although not without its challenges.
In the Pre-Roll category, Lime demonstrated strong and stable performance, maintaining a top 12 ranking throughout the period, peaking at 10th in March and June. This stability is noteworthy given the competitive nature of the Pre-Roll market. Conversely, Lime's position in the Edible category was less impressive, failing to make the top 30 in May and June after ranking 43rd and 42nd in March and April, respectively. This indicates a significant struggle to capture market share in the Edible segment. The Vapor Pens category shows a positive trend for Lime, with a steady climb from 86th in March to 67th in June, suggesting growing consumer interest and potentially effective marketing strategies or product improvements in this segment.
Competitive Landscape
In the competitive landscape of the California pre-roll category, Lime has shown a notable fluctuation in its ranking over the past few months. Lime's rank dropped from 10th in March 2024 to 12th in April and May 2024, before recovering to 10th in June 2024. This recovery suggests a positive trend in sales performance, with sales figures increasing from $1,152,358 in April to $1,248,117 in June. In comparison, Kingpen consistently outperformed Lime, maintaining a higher rank despite a downward trend in sales from $1,761,454 in March to $1,342,766 in June. Similarly, West Coast Cure held a steady position just above Lime, although their sales also showed a decline. On the other hand, Grizzly Peak Farms and Sluggers have been close competitors, with Sluggers even surpassing Lime in April and May before Lime regained its position in June. These insights indicate that while Lime faces stiff competition, its recent upward trend in sales could signify a potential for further growth in the California pre-roll market.
Notable Products
In June 2024, the top-performing product for Lime was Lil' Lime - Purple Zaza Diamond And Hash Infused Pre-Roll (0.6g), maintaining its number one ranking from March and April, and reclaiming the top spot from a third-place finish in May with sales of 4407 units. Lil Limes - Alien Gas Infused Pre-Roll (0.6g) secured the second position, dropping from its first-place ranking in May. Indica Blend Pre-Roll (1g) entered the rankings for the first time in June, achieving the third spot. Lil' Lime - Strawberry Cough Diamond Hash Infused Pre-Roll (0.6g) moved up to fourth place from fifth in the previous two months. Finally, Lil' Limes- Blue Dream Diamond & Hash Infused Infused Pre-Roll 5-Pack (3g) ranked fifth, slightly down from its fourth position in May.
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