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Jun-2024
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Overview
Market Insights Snapshot
Pacific Wave has shown a consistent presence in the Edible category in Oregon. Over the months from March to June 2024, the brand has maintained a steady ranking, fluctuating slightly between the 22nd and 24th positions. This stability suggests a reliable consumer base and steady demand. However, the slight dip in June 2024 to the 23rd position may indicate emerging competition or seasonal variations in consumer preferences. Despite this, the brand's sales figures show an interesting trend, with a notable peak in April 2024, reaching $40,404, before dropping again in June.
While Pacific Wave's performance in Oregon's Edible category is commendable, it is important to note that the brand has not appeared in the top 30 rankings in other states or categories during these months. This absence could be viewed as a limitation in their market penetration and brand recognition outside of Oregon. On the bright side, it also highlights a potential area for growth and expansion for Pacific Wave. Focusing on strategies to improve their presence in other states and categories could enhance their overall market performance and brand strength.
Competitive Landscape
In the competitive landscape of Oregon's edible cannabis market, Pacific Wave has shown a relatively stable performance, maintaining a rank around the early 20s over the past few months. In March 2024, Pacific Wave was ranked 24th, improving to 22nd in April and May, before slightly dropping to 23rd in June. This stability is notable when compared to competitors like Willamette Valley Alchemy, which fluctuated more significantly, ranking 25th in March and 22nd in June. Similarly, Canna Crispy remained consistently lower, hovering around the mid-20s. However, Chompd Edibles experienced a sharp decline from 17th in March to 26th in June, indicating potential market volatility. Retreats also showed a positive trend, moving from 23rd in March to 21st in June. These dynamics suggest that while Pacific Wave has maintained a steady position, there is room for growth, especially when considering the fluctuating ranks of its competitors. This analysis highlights the importance of strategic marketing and product differentiation for Pacific Wave to climb higher in the rankings and boost sales further.
Notable Products
In June 2024, the top-performing product from Pacific Wave was Grape Giggly Gummy (100mg) in the Edible category, securing the first rank with sales of 495 units. Following closely was Orange Giggly Gummy (100mg) in the second position. Mango Giggly Gummy (100mg) and Strawberry Giggly Gummy (50mg) both tied for the third rank, each with 377 units sold. Notably, Mango Giggly Gummy (100mg) improved its ranking from fifth in March to third in June. Cherry Giggly Gummy (100mg) rounded out the top five, achieving the fourth rank in its debut month.
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