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Jun-2024
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Overview
Market Insights Snapshot
Papa & Barkley has shown a consistent performance in the California market, particularly in the Tincture & Sublingual and Topical categories. In both categories, the brand has maintained the top rank for four consecutive months from March to June 2024. However, it is notable that their sales figures have experienced a downward trend, particularly in the Tincture & Sublingual category, where sales decreased from 631,864 in March to 520,706 in June. Despite this decline, their consistent top ranking underscores their strong market presence and consumer preference in these categories.
In contrast, Papa & Barkley's performance in the Edible category in California has seen more fluctuation. The brand started at rank 30 in March, improved to 27 in April, but then fell out of the top 30 by May and June. This indicates a competitive landscape in the Edible category where maintaining a high rank is challenging. In the Capsules category, the brand has shown relative stability, maintaining a rank around 9, with a slight improvement to rank 8 in May before reverting back to 9 in June. This stability suggests a steady demand for their products in this segment, albeit with less dominance compared to their performance in Tincture & Sublingual and Topical categories.
Competitive Landscape
In the competitive landscape of the California Topical cannabis market, Papa & Barkley has consistently maintained its leading position, ranking 1st from March to June 2024. This dominance is notable when compared to Mary's Medicinals, which held the 2nd position throughout the same period. Despite a slight decline in sales for both brands, Papa & Barkley’s sales figures remained significantly higher, indicating a robust market presence and customer loyalty. Buddies, ranked 3rd, also showed stable performance but with sales figures considerably lower than the top two competitors. The consistent ranking and sales performance of Papa & Barkley suggest a strong brand equity and effective market strategies, positioning it well against its competitors in the California Topical category.
Notable Products
In June 2024, the top-performing product for Papa & Barkley was the CBD/THC 1:3 THC Rich Releaf Balm (100mg CBD, 300mg THC, 50ml), maintaining its number one rank for four consecutive months, with sales reaching 6178 units. The second spot was held by the CBD/THC 3:1 CBD Rich Releaf Balm (450mg CBD, 150mg THC, 50ml), which has consistently climbed from the third rank in March and April to the second in May and June. The CBD/THC/CBN 2:4:1 Sleep Releaf Blackberry Elderberry Gummies 20-Pack (40mg CBD, 80mg THC, 20mg CBN) ranked third, showing a slight decline from its second position in March and April. The fourth position was consistently held by the CBD/THC 3:1 CBD Rich Releaf Balm (135mg CBD, 33mg THC, 15ml) across all four months. Lastly, the CBD/THC 1:3 THC Rich Releaf Balm (30mg CBD, 90mg THC, 15ml) remained in the fifth position throughout the same period.
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