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Jun-2024
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Overview
Market Insights Snapshot
OMO - Open Minded Organics has shown mixed performance across different categories and states. In New York, the brand's Edible category has seen a slight decline in rankings, moving from 20th in March 2024 to 23rd in June 2024. Despite this drop, sales have remained relatively stable, peaking in May 2024 at $57,970 before slightly decreasing to $52,700 in June 2024. This suggests a resilient demand for their edibles despite the competitive market. On the other hand, their Vapor Pens category has seen a more significant fluctuation, dropping out of the top 30 in April and May, before climbing back to 31st in June. This volatility indicates a more challenging landscape for Vapor Pens, possibly due to increased competition or shifting consumer preferences.
In the Tincture & Sublingual category, OMO - Open Minded Organics has consistently maintained a strong position, ranking 4th from March through June 2024 in New York. Although there was a noticeable dip in sales from $32,851 in May to $25,985 in June, the brand's ability to hold a top-five ranking underscores its strong market presence and consumer loyalty in this segment. This consistency is a positive indicator of their product quality and brand reputation in the Tincture & Sublingual category. However, the brand's performance in other categories, such as Vapor Pens, suggests room for improvement and potential areas for strategic focus to enhance their overall market position.
Competitive Landscape
In the highly competitive New York vapor pens market, OMO - Open Minded Organics has experienced notable fluctuations in its ranking and sales over the past few months. Despite a strong start in March 2024 with a rank of 24, OMO saw a decline to 33 in April and further to 35 in May, before recovering slightly to 31 in June. This volatility can be attributed to the dynamic competitive landscape, where brands like Ruby Farms and Revert Cannabis New York have shown more consistent performance. For instance, Ruby Farms improved its rank from 30 in March to 22 in April, although it fell back to 29 by June. Meanwhile, Revert Cannabis New York demonstrated a steady climb from 33 in March to 30 in June. The sales figures reflect these trends, with OMO's sales peaking again in June after a dip in April and May, suggesting a potential rebound. However, the competition's ability to maintain or improve their positions indicates that OMO must strategize effectively to regain and sustain a higher rank in this volatile market.
Notable Products
In June 2024, the top-performing product from OMO - Open Minded Organics was Sleepy Strawberry RSO Gummies 10-Pack (100mg), maintaining its first place ranking from the previous month with sales of 612 units. Blueberry RSO Gummies 10-Pack (100mg) held steady at the second position, showing consistent performance with 580 units sold. Sour Tangie Distillate RSO Cartridge (1g) re-entered the rankings at third place with 434 units sold, marking its return after missing the previous two months. OG Kush RSO Distillate Cartridge (1g) improved its position to fourth place from fifth in May 2024, with sales increasing to 384 units. Finally, Maui Wowie Distillate Cartridge (1g) remained in the top five but dropped slightly to fifth place with 314 units sold, down from fourth in May 2024.
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