Jun-2024
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Overview
Market Insights Snapshot
Olio has experienced varied performance across different categories and states over the past few months. In Colorado, Olio's ranking in the Concentrates category has seen a decline, moving from 12th in March to 20th by June. This downward trend is reflected in the sales figures, which dropped from $188,335 in March to $102,460 in June. Conversely, in the Vapor Pens category, Olio has maintained a relatively stable position, ranking between 15th and 18th from March to June, with sales remaining fairly consistent around the $600,000 mark. However, in the Edible category, Olio's ranking experienced fluctuations, dipping out of the top 30 in May but rebounding to 28th position by June, indicating a potential area for growth or increased competition.
In New York, Olio has shown promising growth in the Concentrates category, climbing from an unranked position in March to 9th in May. This is a significant achievement, especially considering the competitive nature of the market. For Vapor Pens, however, the brand's ranking has been more volatile, starting at 19th in March, peaking at 16th in April, and then dropping back to 23rd by June. This fluctuation suggests potential challenges in maintaining a steady market share in this category. The sales figures for Vapor Pens also reflect this instability, with a noticeable drop from $226,307 in May to $184,183 in June, highlighting the need for strategic adjustments to sustain growth in this segment.
Competitive Landscape
In the competitive landscape of Vapor Pens in Colorado, Olio has shown a steady improvement in its rankings over the past few months, moving from 18th place in March 2024 to 15th place by June 2024. This upward trend is notable, especially when compared to competitors like AiroPro, which has seen a decline from 11th to 17th place over the same period. Despite Sano Gardens initially holding a strong position at 7th place in March, they have dropped to 13th by June, indicating potential volatility. Meanwhile, Next1 Labs LLC has shown significant improvement, climbing from 31st to 14th place, and Seed & Strain Cannabis Co. has fluctuated but remains a close competitor. These shifts suggest that while Olio is gaining ground, the market remains highly competitive and dynamic, with several brands experiencing significant changes in their rankings and sales performance.
Notable Products
In June 2024, the top-performing product for Olio was the Traditional Rosin Gummies 10-Pack (100mg) in the Edible category, which rose to the number one rank with a notable sales figure of $1223. The Sour Raspberry Rosin Gummies 10-Pack (100mg) maintained a strong performance, securing the second rank with consistent sales. Passion Fruit Rosin Gummies 10-Pack (100mg) entered the rankings at the third position, showing a positive trend. Pomegranate Limeade Rosin Gummies 10-Pack (100mg) improved to the fourth rank, reflecting a steady increase in popularity. The Gaschata Live Rosin Disposable (0.5g) in the Vapor Pens category debuted at the fifth rank, indicating a growing interest in this product.