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Jun-2024
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Overview
Market Insights Snapshot
Luminous Botanicals has shown a mixed performance across different categories and states in recent months. In Oregon, the brand has been a consistent player in the Tincture & Sublingual category, with rankings fluctuating between 11th and 14th place from March to May 2024. However, by June 2024, they fell out of the top 30, indicating a significant drop in their market position. This decline could be a cause for concern, suggesting either increased competition or a potential shift in consumer preference within the state.
Despite the drop in June, Luminous Botanicals experienced a notable trend in their sales figures. For instance, their sales in Oregon saw a decline from $16,323 in March to $13,112 in April, but then rebounded to $14,264 in May. This indicates some resilience in their market strategy, as they managed to recover after a dip. However, the absence of a ranking in June raises questions about their long-term sustainability in this competitive market. Overall, while Luminous Botanicals has demonstrated potential, their performance in Oregon highlights the challenges they face in maintaining a strong market presence.
Competitive Landscape
In the highly competitive Oregon Tincture & Sublingual category, Luminous Botanicals has experienced notable fluctuations in its ranking over recent months. Despite a strong start in March 2024 with an 11th place ranking, the brand saw a dip to 14th in April, before rebounding to 12th in May. However, by June, Luminous Botanicals was no longer in the top 20, indicating a significant drop in market presence. This volatility contrasts with competitors like Medicine Farm Botanicals, which maintained a relatively stable position, ranking between 12th and 14th over the same period. Another competitor, Crown B Alchemy, showed a similar pattern of stability, only missing from the top 20 in May. These trends suggest that while Luminous Botanicals can achieve strong sales, its market position is more susceptible to fluctuations compared to its competitors, highlighting the need for strategic adjustments to maintain consistent market visibility and sales performance.
Notable Products
In June 2024, the top-performing product from Luminous Botanicals was Fatso (Bulk) in the Flower category, securing the number one rank with notable sales of 175 units. The CBD/THC 9:1 Earth Blend Tincture (675mg CBD, 75mg THC, 1oz) ranked second, showing a steady climb from fifth in March to fourth in May. The CBD/THC 1:1 Meadow Blend Tincture (189mg CBD, 180mg THC, 15ml, 0.5oz) took the third spot, maintaining a consistent presence in the top ranks. The CBD/THC 1:1 Comfort Dew (125mg CBD, 125mg THC, 15ml) emerged in fourth place, making its first appearance in the rankings. Lastly, the CBD:THC Sky Blend Tincture (40mg CBD, 340mg THC, 15ml, 0.5oz) remained steady at fifth place from May to June.
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