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Jun-2024
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Overview
Market Insights Snapshot
Mile 62's performance across various categories in Massachusetts has shown notable fluctuations over recent months. In the Concentrates category, the brand made a significant leap from not being in the top 30 in March 2024 to ranking 29th by June 2024, indicating a positive trend. This improvement is underscored by a steady increase in sales from $11,080 in April to $31,534 in June. However, in the Vapor Pens category, Mile 62 did not maintain a top 30 position past March, suggesting potential challenges or a shift in consumer preferences.
The Flower and Pre-Roll categories present a more mixed picture for Mile 62. In the Flower category, the brand's ranking has steadily declined from 64th in March to 89th by June, with sales also decreasing from $187,417 in March to $65,098 in June. Similarly, in the Pre-Roll category, Mile 62 saw its ranking drop from 76th in March to 88th in June, although there was a slight improvement in sales from May to June. These trends indicate that while Mile 62 has seen success in certain areas, it faces challenges in maintaining its position in other key categories.
Competitive Landscape
In the Massachusetts Flower category, Mile 62 has experienced a notable decline in rank and sales over the past few months, which could be indicative of increasing competition and market saturation. In March 2024, Mile 62 was ranked 64th, but by June 2024, it had dropped to 89th. This downward trend is mirrored in its sales figures, which fell from $187,417 in March to $65,098 in June. During the same period, competitors such as Binske and The Heirloom Collective also saw fluctuations in their rankings, with Binske re-entering the top 100 in June and The Heirloom Collective showing a slight recovery in June after a dip in May. Nimbus Vapor Co. and Legends have similarly faced challenges, with Legends dropping out of the top 100 in April and May before reappearing in June. These shifts suggest a highly competitive landscape where Mile 62 must innovate and adapt to regain its market position.
Notable Products
In June 2024, Citronella (3.5g) emerged as the top-performing product for Mile 62, leading the sales chart with a notable figure of 1338 units sold, reflecting a significant rise from its previous ranks. Sour Lemons Pre-Roll (1g) held the second position, showing a rebound from its third-place ranking in May. The new entry, Sour Lemons Pre-Roll 3-Pack (1.5g), debuted at the third spot, making an impressive start. LAKC Pre-Roll 3-Pack (1.5g) followed closely at fourth, while Cadillac Rainbows (3.5g) maintained its fifth position from the previous month. This shift in rankings highlights Citronella's growing popularity and the consistent demand for pre-roll products.
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