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Jun-2024
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Overview
Market Insights Snapshot
Nordic Goddess has demonstrated consistent performance in the Topical category across several states. In Colorado, the brand maintained a steady 4th position from April to June 2024, showing a significant upward trend in sales, culminating in a notable increase from $54,501 in April to $89,721 in June. This consistent ranking within the top 5 highlights the brand's solid presence and growing consumer base in the state. Meanwhile, in Massachusetts, Nordic Goddess improved its rank from 3rd place in March and April to 2nd place in May and June, indicating a strong upward trajectory and successful market penetration.
In Nevada, Nordic Goddess has dominated the Topical category, consistently holding the 1st position from March through June 2024. This top ranking is accompanied by impressive sales figures, with a gradual increase from $81,395 in March to $96,025 in June, showcasing the brand's strong market leadership and consumer preference in the state. The absence of Nordic Goddess from the top 30 brands in any other states or categories suggests areas for potential growth and expansion. However, their stronghold in these key states provides a solid foundation for further market development.
Competitive Landscape
In the Nevada Topical cannabis market, Nordic Goddess has maintained a dominant position, consistently ranking first from March to June 2024. This stability in rank highlights the brand's strong market presence and customer loyalty. In contrast, Medizin re-entered the top rankings in June 2024, securing the second position, which may indicate a resurgence or successful marketing campaign. Meanwhile, Escape Artists experienced fluctuations, dropping to fourth place in May before recovering to third in June. The consistent top ranking of Nordic Goddess amidst these shifts suggests a robust product offering and effective market strategy, but the re-emergence of competitors like Medizin could signal increasing competition. Brands like Escape Artists, despite their fluctuations, also pose a potential threat if they stabilize their market performance. For Nordic Goddess, maintaining its lead will likely require continued innovation and strategic marketing to fend off these rising competitors.
Notable Products
In June 2024, the top-performing product from Nordic Goddess was the CBD/THC 1:1 Therapeutic Body Balm (250mg CBD, 250mg THC, 2oz) in the Topical category, maintaining its first-place ranking with sales of 1959 units. The CBD/THC 1:1 Cooling Therapeutic Body Balm (250mg CBD, 250mg THC, 2oz) climbed to second place, showing a notable increase from fourth place in May. The CBG:CBD:THC Vibe 10X Body (2500mg CBG, 2500mg CBD, 2500mg THC) held steady in third place for the second consecutive month. THC Cooling Balm (500mg) moved up one spot to fourth place, while the CBD/THC 1:1 Therapeutic Body Balm (500mg CBD, 500mg THC) dropped to fifth place from its previous second-place ranking. Overall, June saw significant shifts in rankings, particularly for the Cooling Therapeutic Body Balm, which exhibited the most substantial sales growth.
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