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Jun-2024
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Overview
Market Insights Snapshot
MKX Oil Company has shown varied performance across different states and categories over the past few months. In Massachusetts, the brand's ranking in the Vapor Pens category has experienced a slight decline, moving from 22nd in March 2024 to 24th by June 2024. This downward trend is also reflected in their sales figures, which decreased from $374,829 in March to $261,195 in June. Such a decline indicates a potential challenge in maintaining market share in the state's competitive vapor pen market.
Conversely, in Michigan, MKX Oil Company has maintained a strong and stable presence in the Edible category, consistently holding the 3rd position from March through June 2024. Despite a slight dip in sales from $1,565,900 in March to $1,277,387 in June, the brand's consistent ranking suggests a loyal customer base and effective market strategies. Additionally, in the Vapor Pens category in Michigan, MKX Oil Company has improved its ranking from 5th in March to 3rd in April and has maintained this position through June, indicating robust performance and resilience in a highly competitive segment.
Competitive Landscape
In the competitive landscape of vapor pens in Michigan, MKX Oil Company has shown a stable performance, consistently holding the 3rd rank from April to June 2024 after climbing from 5th place in March 2024. This upward movement reflects a positive trend in their market positioning. However, they face stiff competition from Mitten Extracts, which has maintained the top spot throughout the same period, and Breeze Canna, which consistently ranks 2nd. Notably, Platinum Vape has seen a decline, dropping from 3rd in March to 4th from April onwards, which may have contributed to MKX Oil Company's rise in rank. Meanwhile, Muha Meds has shown improvement, moving from 7th in March to 5th in June. These dynamics suggest that while MKX Oil Company is solidifying its position, it must continue to innovate and strategize to fend off competitors and possibly challenge the top two brands in the future.
Notable Products
In June 2024, the top-performing product for MKX Oil Company was Blazin Blue Raspberry Xxtra Strength Gummies 10-Pack (200mg), which regained the top rank after being second in May. Chronic Cherry Xxtra Strength Gummies 10-Pack (200mg) held the second position, dropping from the top spot in May. Strawberry Kush Xxtra Strength Gummies 10-Pack (200mg) secured the third rank, showing consistent performance since April. Pineapple Express Xxtra Strength Gummies 10-Pack (200mg) ranked fourth, maintaining its position from May. Notably, the Strawberry Cough Distillate Cartridge (1g) entered the rankings at the fifth position with sales of $18,972 in June 2024.
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