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Mar-2024
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Overview
Market Insights Snapshot
In Massachusetts, Liquid Gold has shown a consistent presence in the Vapor Pens category, maintaining its ranking in the 90s from December 2023 through February 2024. Although the brand did not make it into the top 30 in March 2024, this indicates a steady demand for their products in this category, despite a slight fluctuation in sales figures over the months. Conversely, in Michigan, Liquid Gold has expanded its footprint by entering the Concentrates category in March 2024, securing the 91st rank. This entry signifies the brand's efforts to diversify its product offerings and capture new market segments, although it remains to be seen how this move will impact its overall performance in the state.
Meanwhile, Liquid Gold's performance in the Vapor Pens category in Michigan has shown notable volatility, with rankings oscillating from 57th in December 2023 to 68th in March 2024, after a significant dip in February. This fluctuation, accompanied by a considerable drop and then a partial recovery in sales, suggests a challenging market environment for Liquid Gold's Vapor Pens in Michigan. On a brighter note, in Oregon, the brand has made impressive strides in the Tincture & Sublingual category, improving its rank from 25th to 20th from December 2023 to March 2024. This improvement, coupled with a significant increase in sales in March, highlights Liquid Gold's growing influence and consumer acceptance in this category within Oregon, showcasing a successful expansion strategy in the wellness-focused cannabis product market.
Competitive Landscape
In the competitive landscape of Vapor Pens in Michigan, Liquid Gold has experienced a notable fluctuation in its ranking, moving from 57th in December 2023 to 53rd in January 2024, then dropping significantly to 82nd in February before partially recovering to 68th in March 2024. This volatility reflects challenges in maintaining its market position amidst fierce competition. Notably, Mozey Extracts has shown a strong and improving performance, climbing from 62nd to 64th place over the same period, with sales figures indicating a robust upward trend. In contrast, Cloud Cover (C3) has maintained a relatively stable position but with a slight decline in rank from 63rd to 72nd, despite a brief improvement in February. New entrants like Simply Herb and The Limit have also made their mark, debuting in the rankings at 65th and 69th respectively in March 2024, hinting at the dynamic nature of the market and the constant emergence of new competitors. This competitive analysis underscores the challenges Liquid Gold faces in sustaining its market share and highlights the importance of strategic initiatives to enhance its competitive edge in Michigan's Vapor Pens category.
Notable Products
In March 2024, Liquid Gold saw Tropical Punch Distillate Cartridge (1g) leading their sales in the Vapor Pens category, securing the top spot with a notable increase in sales to 2093 units. Following closely was Clementine Distillate Cartridge (1g), which, despite being the top seller in February, moved to the second position with 1506 units sold. The third rank was taken by Apple Jack Distillate Cartridge (1g), a new entry into the top ranks for the month. Acai Berry Kush Distillate Cartridge (1g), previously ranked second in December 2023, dropped to the fourth position by March 2024. This month's rankings indicate a dynamic shift in consumer preferences within Liquid Gold's offerings, highlighting the competitive nature of the Vapor Pens category.
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