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Jun-2024
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Overview
Market Insights Snapshot
LP Exotics has shown varied performance across different categories and states. In Nevada, the brand's Flower category experienced a notable fluctuation, ranking 45th in March, moving up to 33rd in May, but dropping out of the top 30 by June. This indicates a volatile market presence in the Flower category. However, in the Pre-Roll category, LP Exotics maintained a relatively stable position, consistently ranking within the top 30, although there was a slight dip from 17th in March to 25th in June. This suggests a steady demand for their Pre-Roll products despite some minor fluctuations in ranking.
The Vapor Pens category in Nevada presents a different story for LP Exotics. The brand started at 23rd in March but saw a significant drop to 47th in April, indicating a sharp decline in market performance. Although there was a slight recovery to 42nd by June, the category remained challenging for LP Exotics. This trend highlights the need for strategic adjustments in their Vapor Pens offerings to regain market share. Overall, while LP Exotics has a strong presence in certain categories, there are clear areas that require attention to improve their rankings consistently.
Competitive Landscape
In the Nevada flower category, LP Exotics has experienced notable fluctuations in rank and sales over recent months. In March 2024, LP Exotics was ranked 45th, but saw an improvement to 33rd by May 2024, before dropping to 53rd in June 2024. This volatility is indicative of a highly competitive market. For instance, Matrix NV showed similar fluctuations, ranking 43rd in March 2024 and 55th in June 2024. Meanwhile, Remedy experienced a more stable yet downward trend, dropping from 41st in March 2024 to 52nd in June 2024. TRENDI and Tyson 2.0 also showed competitive movements, with TRENDI ranking 46th in March 2024 and 54th in June 2024, and Tyson 2.0 moving from 49th to 51st over the same period. These shifts highlight the dynamic nature of the market, suggesting that LP Exotics needs to continually innovate and adapt to maintain and improve its market position.
Notable Products
In June 2024, the top-performing product for LP Exotics was Lemon Essence (3.5g) in the Flower category, maintaining its number one rank from May with sales of $835. Plum Sangria Pre-Roll (1g) held steady at the second position with notable sales figures. White Runtz Distillate Disposable (0.5g) entered the rankings at the third spot, showing strong demand in the Vapor Pens category. MAC V2 Pre-Roll (1g) and Wedding Cake (3.5g), both new entrants, secured the fourth position, indicating positive market reception. Compared to previous months, Lemon Essence (3.5g) remained consistently popular, while other products saw a rise in rankings, reflecting shifts in consumer preferences.
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