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Jun-2024
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Overview
Market Insights Snapshot
Nectar has shown consistent performance in the Beverage category in Massachusetts. Over the months from March to June 2024, Nectar has maintained a stable position, ranking 13th in March, dropping slightly to 14th in April, and then returning to 13th in both May and June. This stability in ranking suggests a loyal customer base and consistent market demand for their products. Despite the slight dip in April, Nectar's sales figures indicate a positive trend, with an increase from $32,825 in April to $40,178 in May, followed by a slight decrease to $37,178 in June. This fluctuation in sales while maintaining rank showcases Nectar's resilience and ability to stay competitive in a dynamic market.
While Nectar's performance in Massachusetts is noteworthy, it is important to recognize that the brand did not make it to the top 30 in other states or categories during this period. The absence from the top rankings in other regions could be seen as a challenge for the brand to expand its market presence and diversify its offerings. However, the strong and consistent performance in Massachusetts provides a solid foundation for potential growth. The brand's ability to maintain its position in a competitive market like Massachusetts could be leveraged to improve its standing in other states and categories in the future.
Competitive Landscape
In the Massachusetts beverage category, Nectar has shown consistent performance, maintaining its rank at 13th place in both May and June 2024 after a slight dip to 14th in April 2024. This stability is notable given the fluctuations seen among its competitors. For instance, Drink Loud experienced a decline from 9th place in March and April to 12th in June, while Sip improved its ranking from 15th in March and April to 14th in May and June. Despite these shifts, Nectar's sales have shown a positive trend, peaking at 40,178 in May before a slight drop to 37,178 in June. This suggests that while Nectar is holding steady in terms of rank, there is room for growth in sales, especially when compared to the more volatile performance of brands like CQ (Cannabis Quencher), which consistently held the 10th position but saw a significant sales increase from 44,289 in April to 54,890 in June. By leveraging advanced data insights, Nectar can identify opportunities to further enhance its market position and drive sales growth.
Notable Products
In June 2024, DayTime - Orange Pineapple Seltzer (5mg THC, 355ml, 12oz) retained its top position for the fourth consecutive month with sales of 1175 units. Cherry Lime Haze Seltzer (5mg THC, 355ml, 12oz) climbed to the second position from fourth in May. Nitetime - CBD/THC 1:1 Lemon Chamomile Seltzer (5mg CBD, 5mg THC, 355ml 12oz) remained steady in the third position, showing consistency in its performance. PH Balanced Alkaline Infused Water (5mg THC, 355ml, 12oz) entered the rankings at fourth place, improving from its fifth position in April. Cucumber Dream Seltzer (5mg THC, 355ml, 12oz) reappeared in the rankings at fifth place, having last ranked in March.
Top Selling Cannabis Brands
