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Jun-2024
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Overview
Market Insights Snapshot
Neighborgoods has shown varying performance across different categories and states over the past few months. In Massachusetts, the brand has experienced fluctuations in the Flower category, with ranks moving from 66 in March to 59 in June. This indicates a moderate upward trend despite not breaking into the top 50. In the Pre-Roll category, the brand has struggled to maintain a top position, failing to rank in the top 30 in March and June, but briefly appearing at 66 in May. The Vapor Pens category tells a more promising story, with a steady climb from 83 in March to 60 in June, suggesting growing consumer interest in this product line.
In Ohio, Neighborgoods has demonstrated stronger performance, particularly in the Edible category, where it maintained a consistent top 10 presence, improving slightly from rank 7 in March to 6 in June. However, the Concentrates category saw a slight decline from a rank of 12 in March to 13 in June, indicating a need for strategic adjustments. The Vapor Pens category in Ohio showed significant volatility, peaking at rank 8 in May but dropping to 17 by June. This inconsistency suggests that while there is potential, the brand may need to address specific market dynamics to stabilize its performance.
Competitive Landscape
In the competitive landscape of the Ohio edible cannabis market, Neighborgoods has shown a steady performance, maintaining its rank at 7th place from March to May 2024, before improving to 6th place in June 2024. This upward movement indicates a positive trend in sales, with a notable increase from $220,029 in March to $286,710 in June. Despite this progress, Neighborgoods faces stiff competition from brands like Smokiez Edibles, which consistently ranks higher, holding 5th place in March, May, and June, and 6th place in April. Additionally, Certified (Certified Cultivators) has been a dominant player, fluctuating between 2nd and 4th place but consistently achieving higher sales figures. Meanwhile, UB GOOD and Butterfly Effect - Grow Ohio remain lower in the rankings, with UB GOOD improving from 9th to 8th place and Butterfly Effect - Grow Ohio holding steady at 10th place from April to June. The competitive dynamics suggest that while Neighborgoods is making gains, it must continue to innovate and market aggressively to climb higher in the rankings and close the sales gap with its top competitors.
Notable Products
In June 2024, Spritzer (3.5g) from Neighborgoods maintained its top position in the Flower category with sales of 1,744 units. Egg Roll (3.5g) secured the second spot in the Flower category, marking its debut in the rankings. Devil Driver Pre-Roll (1g) dropped from second to third place in the Pre-Roll category, indicating a notable decrease in sales. White Wedding Cake Live Resin Cartridge (0.5g) fell to fourth place in the Vapor Pens category, down from its first-place ranking in April 2024. Rainbow Sherbet Live Resin Cartridge (0.84g) remained steady in fifth place within the Vapor Pens category, showing consistent performance over the months.
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