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Jun-2024
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Overview
Market Insights Snapshot
Medicine Farm Botanicals has demonstrated notable performance across various categories in Oregon. In the Beverage category, the brand saw a consistent rise, moving from outside the top 30 to 11th place in April, and further improving to 10th place in May. This upward trend indicates a growing consumer preference for their beverage products. On the other hand, their performance in the Tincture & Sublingual category showed a slight decline, moving from 12th place in April to 14th place in June, which may suggest increased competition or a shifting market preference. It's important to note that the brand did not rank in the top 30 for beverages in March, which highlights a significant improvement over a short period.
In the Topical category, Medicine Farm Botanicals has maintained a strong and consistent presence, holding steady at the 2nd position from March through June. This stability is indicative of their strong market leadership and consumer trust in their topical products. Despite a slight sales dip in April, sales rebounded in June, reaching their highest point over the four-month period. The steady high ranking in topicals contrasts with the more volatile performance in tinctures and beverages, suggesting that while the brand is diversifying its product range, its core strength remains in topicals. This consistent high ranking in topicals is a positive indicator of the brand's resilience and strong market position in Oregon.
Competitive Landscape
In the Oregon Topical category, Medicine Farm Botanicals has consistently held the second rank from March 2024 to June 2024. Despite maintaining this position, the brand faces stiff competition from High Desert Pure, which has dominated the top spot throughout the same period. High Desert Pure's sales figures are significantly higher, indicating a strong market preference. Meanwhile, Synergy Skin Worx has consistently ranked third, but its sales have shown a downward trend, potentially opening opportunities for Medicine Farm Botanicals to further solidify its position. Angel (OR) has fluctuated, missing the top 20 in April 2024 but maintaining the fourth position in other months. This competitive landscape suggests that while Medicine Farm Botanicals holds a stable rank, there is potential for growth if it can leverage the declining sales of Synergy Skin Worx and the inconsistent performance of Angel (OR).
Notable Products
The Phoenix Blend Balm (1000mg THC, 2oz) maintained its top position in June 2024, with notable sales of 423 units. The CBD/THC 1:1 Phoenix Blend Salve (1000mg CBD, 1000mg THC, 2oz) rose to second place, showing a consistent improvement from previous months. The CBD/THC 1:1 Dragon's Blend (200mg CBD, 200mg THC, 2oz) entered the rankings for the first time in June, securing the third position. The CBD/THC 1:1 Mini Phoenix Blend Salve (250mg CBD, 250mg THC, 0.25oz) dropped to fourth place, despite being unranked in May. Lastly, the CBD:THC 1:1 Relief Oil Rollerball (300mg CBD, 300mg THC, 9ml) fell to fifth place from its third position in May, indicating a slight decline in sales.
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