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Apr-2024
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Overview
Market Insights Snapshot
In an insightful dive into LivWell's performance across various states and categories, certain trends and movements stand out, particularly in the Flower category. In Maryland, LivWell maintained a consistent presence in the top 30 for the Flower category, showing a significant jump from a rank of 24 in the first quarter to an impressive 14th position by April 2024. This upward movement is indicative of a growing consumer preference or possibly an expansion in distribution within the state. Contrastingly, in Ohio, LivWell's presence in the Flower category was noted only in January 2024 with a rank of 37, after which it disappeared from the top 30 rankings, suggesting a potential decline in market penetration or competitive challenges within the state.
On the other hand, LivWell's performance in Michigan showcases a tale of two categories. Within the Flower category, LivWell demonstrated strong and consistent top 10 rankings from January to March 2024, although it experienced a slight dip to 14th place by April. This suggests a robust standing in Michigan's Flower market, despite a minor setback. However, the brand's trajectory in the Concentrates category tells a different story, with rankings slipping from 28th to a position outside the top 30 by March 2024, indicating challenges in maintaining its foothold amidst competitive pressures or changing consumer preferences in this segment. Meanwhile, in New York, LivWell saw a remarkable rise in the Flower category, moving from 21st place in January to leading the category by April 2024, highlighting a significant achievement and growing brand dominance in this market.
Competitive Landscape
In the competitive landscape of the Michigan cannabis flower market, LivWell has experienced a notable fluctuation in its ranking and sales over the first four months of 2024. Initially ranked 6th in January, LivWell saw a slight decline to 9th in February, a minor improvement to 8th in March, before experiencing a more significant drop to 14th in April. This trajectory indicates a challenging environment, particularly as competitors like Common Citizen and Mooon Juice have shown more resilience or improvement in their rankings within the same period. Common Citizen, for instance, started just above LivWell in January but managed to improve its standing, despite a slight dip in March, ending up higher than LivWell by April. Mooon Juice, on the other hand, despite starting much lower in the rankings, made a significant leap forward, surpassing LivWell by April. This dynamic shift underscores the competitive volatility within the Michigan flower market and highlights the need for LivWell to adapt and strategize effectively to maintain or improve its market position amidst fluctuating sales and the aggressive positioning of its competitors.
Notable Products
In Apr-2024, LivWell's top-selling product was The Soap (1g) from the Flower category, leading with remarkable sales figures of 20,892 units. Following it, Trop Cherry (3.5g) secured the second position, indicating a strong preference for Flower category products among consumers. The third spot was taken by Triangle Deluxe #1 (3.5g), which was previously the top product in Jan-2024, demonstrating a shift in consumer preferences over the months. Phantom Cookies (3.5g) and Strawberry Diesel OG (3.5g) rounded out the top five, holding the fourth and fifth positions respectively. This ranking highlights the dynamic nature of product popularity, with Triangle Deluxe #1 (3.5g) showing a notable change in its ranking from first to third over the quarter.
Top Selling Cannabis Brands
