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Jun-2024
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Overview
Market Insights Snapshot
Mary's Medicinals has shown varied performance across different states and categories. In California, the brand is consistently ranked 5th in the Tincture & Sublingual category from April to June 2024, despite a gradual decline in sales from $302,843 in March to $230,050 in June. In the Topical category, the brand maintains a strong 2nd position throughout the same period, although sales have also decreased from $666,096 in March to $539,494 in June. These trends suggest that while the brand remains a top contender, it faces challenges in sustaining sales growth in California.
In Michigan, Mary's Medicinals holds steady in the Topical category, consistently ranking 2nd, with sales showing a slight fluctuation but remaining strong at $372,062 in June. However, the brand experienced a minor drop in the Tincture & Sublingual category, moving from 3rd to 4th place in June. Meanwhile, in Ohio, Mary's Medicinals made a brief appearance in the Topical category, ranking 9th in April, but did not maintain a top 30 position in subsequent months. This indicates a need for strategic adjustments to improve and stabilize their market presence in Ohio.
Competitive Landscape
In the competitive landscape of the California Topical cannabis market, Mary's Medicinals consistently holds the second rank, trailing behind Papa & Barkley, which maintains a firm grip on the top position. Despite a steady decline in sales from March to June 2024, Mary's Medicinals remains a strong contender, indicating a loyal customer base and effective brand positioning. However, the gap in sales between Mary's Medicinals and Papa & Barkley is significant, with the latter's sales figures nearly doubling those of Mary's Medicinals. This suggests that while Mary's Medicinals is a key player, there is substantial room for growth. Meanwhile, Buddies and Sweet ReLeaf (CA) occupy the third and fourth ranks respectively, with Sweet ReLeaf experiencing a slight dip in May before recovering in June. These insights highlight the competitive pressures and opportunities for Mary's Medicinals to innovate and capture a larger market share in the California Topical category.
Notable Products
For June 2024, the top-performing product from Mary's Medicinals is the Indica Transdermal Patch (20mg), which reclaimed the number one spot with sales of 8003 units. The Sativa Transdermal Patch (20mg) follows closely in second place, having dropped from its top position in May 2024. The CBD/THC/CBN 2:3:1 Formula Transdermal Patch (10mg CBD, 15mg THC, 5mg CBN) holds steady in third place, showing a consistent performance. The CBD/THC 1:1 Transdermal Patch (10mg CBD, 10mg THC) ranks fourth, up from fifth place in May. Finally, the CBD/THC 1:1 Relief Transdermal Compound Balm (500mg CBD, 500mg THC, 1oz) remains in fifth place, maintaining its position from the previous month.
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