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Jun-2024
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Overview
Market Insights Snapshot
Optimum Extracts (WA) has shown varied performance across different states and categories over the past few months. In Nevada, the brand's presence in the Vapor Pens category has been minimal, with ranks of 50 in both March and June 2024, and missing from the top 30 in April and May. This suggests a struggle to maintain a significant foothold in the Nevada market. Conversely, the sales figures in Nevada show a slight decrease from $14,409 in March to $13,462 in June, indicating a need for strategic improvements to gain better traction in this competitive market.
In Washington, Optimum Extracts (WA) has maintained a more consistent presence in the Vapor Pens category, though there has been notable fluctuation in rankings. Starting at 18th in March, the brand slipped to 22nd in April and 21st in May, before falling further to 26th in June. This downward trend in rankings is mirrored by a decrease in sales, from $334,601 in March to $221,967 in June. Despite the drop, the brand remains within the top 30, highlighting its resilience and potential for recovery with the right market strategies.
Competitive Landscape
In the competitive landscape of vapor pens in Washington, Optimum Extracts (WA) has experienced notable fluctuations in its ranking and sales over recent months. Despite starting strong in March 2024 with a rank of 18, Optimum Extracts (WA) saw a decline to 26 by June 2024. This downward trend contrasts with some competitors like Northwest Concentrates and Lifted Cannabis Co, which maintained relatively stable positions, albeit lower in the ranks. Interestingly, Freddy's Fuego (WA) showed a significant improvement, moving up from 32 in March to 25 in June, potentially indicating a rising market presence. Meanwhile, Tasty Terps also showed a slight upward trend, ending June at rank 27. These shifts suggest that while Optimum Extracts (WA) has faced challenges, there is dynamic movement among competitors, highlighting the importance of strategic adjustments to regain and sustain higher market positions in the Washington vapor pen category.
Notable Products
In June 2024, the top-performing product from Optimum Extracts (WA) was the Blackberry Crumble Kush Distillate Cartridge (1g) in the Vapor Pens category, maintaining its rank from April and reclaiming the top spot from May with notable sales of 526 units. The Georgia Peach MAC Distillate Cartridge (1g) followed closely in second place, a slight drop from its previous top rank in May. The Green Crack Live Resin Cartridge (1g) secured the third position, consistent with its April ranking. New to the top five, the Himalayan Blackberry Live Resin HTE Cartridge (1g) debuted in fourth place. The Tropicana Cherries Distillate Cartridge (1g) remained steady in fifth place, mirroring its April performance.
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