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Jun-2024
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Overview
Market Insights Snapshot
Mindy's Edibles has shown consistent performance in the Illinois market within the Edible category. Ranking at 8th place in March 2024, the brand saw a slight drop to 9th place in April, maintaining this position through June 2024. Despite the minor rank decrease, the sales figures indicate a relatively stable performance with a slight uptick in June, reaching $720,902 from $700,161 in May. This stability in ranking and sales suggests a strong foothold in the Illinois market, reflecting consumer loyalty and consistent demand for their products.
In contrast, the performance of Mindy's Edibles in Massachusetts has seen more fluctuation. The brand started at 7th place in March 2024 but gradually declined to 11th place by June 2024. Correspondingly, sales dropped from $589,706 in March to $428,026 in June, indicating a significant decrease in market presence and consumer demand. This decline in both rank and sales highlights potential challenges Mindy's Edibles may be facing in maintaining its competitive edge in the Massachusetts market, suggesting a need for strategic adjustments to regain their standing.
Competitive Landscape
In the competitive landscape of the Illinois edible cannabis market, Mindy's Edibles has maintained a consistent rank of 9th place from April to June 2024, following a slight drop from 8th place in March 2024. This stability in rank indicates a steady performance, although it faces stiff competition from brands like Good News, which has shown a slight upward trend, moving from 9th place in March to 8th place from April to June 2024. Additionally, Camino consistently holds the 7th rank, outperforming Mindy's Edibles in sales. Meanwhile, Wonder Wellness Co. and The Funnies Gummies trail behind Mindy's Edibles, with ranks of 11th and 10th respectively, indicating that while Mindy's Edibles is not leading the market, it is outperforming several competitors. This competitive positioning suggests that while Mindy's Edibles is stable, there is room for growth, particularly in increasing sales to potentially reclaim or surpass the 8th position held by Good News.
Notable Products
In June 2024, the top-performing product for Mindy's Edibles was the CBD/THC 1:1 Lush Black Cherry Gummies 20-Pack (100mg CBD, 100mg THC), maintaining its first-place ranking from previous months with a sales figure of $14,290. The Glazed Clementine Orange Gummies 20-Pack (100mg) held steady in second place. The Cool Keylime Kiwi Gummies 20-Pack (100mg) remained in third place, showing a slight increase in sales compared to May 2024. Freshly Picked Berries Gummies 20-Pack (100mg) continued to occupy the fourth position, while the CBD/THC 1:1 Honey Sweet Melon Gummies 20-Pack (100mg CBD, 100mg THC) stayed in fifth place but experienced a notable increase in sales. Overall, the rankings of the top products have remained consistent from March to June 2024.
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