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Jun-2024
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Overview
Market Insights Snapshot
Love Oui'd has shown varied performance across different states and categories over the past few months. In New York, the brand's ranking in the Edible category has seen a steady decline, moving from 22nd in March 2024 to 41st by June 2024. This downward trend highlights potential challenges in maintaining market share in a competitive environment. Despite a strong start with sales of $43,617 in March, the significant drop to $12,102 by June suggests a need for strategic adjustments to regain consumer interest and improve their standing.
It's worth noting that Love Oui'd did not appear in the top 30 brands in some states and categories during this period, indicating areas where the brand may need to bolster its presence or rethink its market strategy. The absence from the top rankings could be seen as a missed opportunity or a sign of stiff competition. However, this also presents a chance for the brand to identify key markets where they can innovate or introduce new products to capture consumer attention and drive growth. By closely monitoring these trends and adapting their approach, Love Oui'd can better navigate the evolving cannabis marketplace.
Competitive Landscape
In the competitive landscape of the New York edible cannabis market, Love Oui'd has experienced notable fluctuations in its ranking and sales over recent months. Starting from a respectable 22nd place in March 2024, Love Oui'd saw a decline to 41st by June 2024. This downward trend in rank is mirrored by a significant drop in sales, from $43,617 in March to $12,102 in June. In comparison, MyHi has maintained a relatively stable position, hovering around the 44th rank, while Ithaca Organics Cannabis Co. also experienced a decline but remained ahead of Love Oui'd by June. Meanwhile, TONIC (NY) and Glenna's have shown more stability in their rankings, with Glenna's even improving slightly from 42nd to 39th. These insights suggest that while Love Oui'd initially held a stronger market position, it has faced increased competition and challenges, leading to a notable drop in both rank and sales.
Notable Products
For June 2024, the top-performing product from Love Oui'd is Ginger Sleep Gummies 20-Pack (400mg CBD, 100mg THC, 100mg CBN) in the Edible category, maintaining its rank from March and April despite a significant drop in sales to 162 units. Zen Mint PepperMints 20-Pack (100mg) also in the Edible category, climbed to the second position with sales of 150 units. Lychee Energy Gummies 20-Pack (100mg) dropped to third place, showing a consistent decline in sales over the past three months. CBD/THC 10:1 Flow Tincture (300mg CBD, 30mg THC) held steady in the fourth position across all months, with sales dwindling to 8 units. The Zen Tincture (300mg THC, 30ml) remained in fifth place since its introduction in May 2024, experiencing minimal sales activity.
Top Selling Cannabis Brands
