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Mar-2024
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Overview
Market Insights Snapshot
In Illinois, Lula's has shown a notable performance across various cannabis product categories, with significant movements in rankings over the recent months. Particularly in the Concentrates category, Lula's demonstrated an impressive upward trend, moving from the 5th position in December 2023 to the 2nd by March 2024, alongside a remarkable sales increase to 697,938 in March from 619,126 in December 2023. However, their performance in the Pre-Roll category indicates a struggle to maintain a consistent position within the top 30 brands, fluctuating outside this range in March 2024 with a rank of 40. This inconsistency highlights areas of potential concern but also opportunities for growth and improvement within the highly competitive Pre-Roll market.
On the other hand, the Flower and Vapor Pens categories tell a more nuanced story of Lula's presence in the Illinois market. In the Flower category, despite experiencing a slight improvement in January 2024, moving up to the 11th position, Lula's faced a downward trend in the following months, landing at the 23rd rank by March 2024. This decline could reflect shifting consumer preferences or increased competition. The Vapor Pens category saw Lula's maintaining a relatively stable, albeit not top-tier, position ranging from 22nd to 26th place from December 2023 to March 2024. This stability, contrasted with the volatility seen in other categories, suggests a steady demand for their Vapor Pens, albeit room for growth to capture a larger market share remains evident.
Competitive Landscape
In the competitive landscape of the Illinois flower cannabis market, Lula's has shown a notable fluctuation in its ranking over the recent months, indicating a dynamic competitive environment. Initially ranked 17th in December 2023, Lula's experienced a significant boost to 11th place in January 2024, showcasing a strong start to the year. However, the following months saw a decline, with Lula's dropping to 21st in February and slightly recovering to 23rd in March. This trajectory suggests challenges in maintaining its earlier momentum amidst stiff competition. Notably, Cookies and Verano have also experienced fluctuations but remained relatively stable in their lower rankings, indicating a possibly saturated market with fierce competition for top spots. Kaviar, on the other hand, made a significant leap from 26th to 18th place and maintained its position, highlighting a successful strategy in navigating the competitive landscape. pts: PURE showed a similar pattern to Lula's with a drop from 20th to 25th place, underlining the challenges brands face in retaining their rank and sales in this volatile market. The shifts in rankings and sales for Lula's and its competitors underscore the importance of strategic agility and market responsiveness for sustained success in the Illinois flower cannabis sector.
Notable Products
In March 2024, Lula's top-performing product was the Juicy Blueberry Distillate Cartridge (0.5g) from the Vapor Pens category, securing the first rank with sales figures reaching 3490 units. Following closely, the Wild Berry Breath Sugar Wax (1g) from the Concentrates category claimed the second position, marking its debut in the rankings for the year. The third spot was taken by Flying Monkeys Sugar (1g), also from the Concentrates category, a new entry that did not appear in previous months' rankings. Highwayman Badder (1g) and Punch Breath Badder (1g), both Concentrates, rounded out the top five, highlighting a strong preference for concentrate products in March. Notably, the Juicy Blueberry Distillate Cartridge (0.5g) saw a significant rise, moving from the second position in February to lead in March, indicating a growing interest in vapor pen products alongside concentrates.
Top Selling Cannabis Brands
