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Jun-2024
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Overview
Market Insights Snapshot
P3 has shown a mixed performance across various states and categories over the past few months. In Colorado, the brand's presence in the Pre-Roll category has not been strong enough to place them in the top 30, with their ranking at 60.0 in May 2024 and improving slightly to 41.0 in June 2024. This indicates some positive movement, but there is still significant room for improvement. In contrast, P3 has maintained a more stable presence in Illinois, consistently ranking in the mid-20s. This stability suggests a solid market position, although there is a slight fluctuation with a dip to 26.0 in May 2024 before returning to 24.0 in June 2024.
In Maryland, P3's performance has been more dynamic, with a notable improvement from ranking 32.0 in May 2024 to 19.0 in June 2024, indicating a significant upward trend. However, their absence from the top 30 in Massachusetts and Michigan highlights areas where the brand needs to strengthen its market presence. In New York, P3 has shown consistent performance, maintaining a position around the high 20s, which reflects a steady demand for their products. This consistency across different states, coupled with notable improvements in specific areas, suggests that while P3 has strengths, there are also clear opportunities for growth and market penetration.
Competitive Landscape
In the competitive landscape of the Illinois pre-roll category, P3 has shown a consistent yet modest performance in recent months. While P3 maintained a stable rank of 24th in both March and April 2024, it experienced a slight dip to 26th in May before recovering to 24th in June. This stability contrasts with the more volatile rankings of competitors such as Kaviar, which fluctuated between 20th and 28th, and Lobo, which saw a significant rise from 32nd to 22nd. Notably, Revolution Cannabis experienced a sharp decline from 14th in March to 23rd in April, indicating potential challenges that P3 could capitalize on. Despite these fluctuations, P3's sales have shown a positive trend, increasing from March to May before slightly dipping in June, suggesting a resilient market presence. This consistent performance positions P3 as a reliable choice for consumers, although there is room for growth to compete more aggressively with higher-ranked brands.
Notable Products
In June 2024, the top-performing product for P3 was Wilson We Need More Mangoes Infused Pre-Roll (1g), which secured the first rank with notable sales of 6116 units. Blueberry AK Limeade Infused Pre-Roll (1g) followed in second place, maintaining a strong position despite dropping from the top spot in May. Choco Berry Chuck Infused Pre-Roll (1g) climbed to third place, showing a significant improvement from its fifth rank in May. Loaded Banana Milkshake Infused Blunt (2g) held steady at fourth place, although its sales dipped compared to the previous month. Sour Meltdown Infused Blunt (2g) remained consistent in fifth place, mirroring its rank from May but experiencing a slight decline in sales.
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