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Feb-2024
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Overview
Market Insights Snapshot
In Oregon, Physic Cannabis Therapy has shown a consistent improvement in its rankings within the Topical category over the recent months. Starting from November 2023, the brand was ranked 15th and has gradually climbed up the ladder to the 13th position by February 2024. This upward trajectory is indicative of the brand's growing presence and consumer acceptance in the Oregon market. Notably, the brand's sales in February 2024 spiked significantly to 1205 units, marking the highest sales volume in the observed period. The consistent improvement in rankings, coupled with a substantial increase in sales, suggests that Physic Cannabis Therapy is gaining a solid foothold in the Topical category in Oregon.
Despite this positive trend in Oregon, it is important to note that Physic Cannabis Therapy's performance data is currently limited to this state and category, leaving potential gaps in understanding the brand's overall market penetration and performance across other states or categories. The absence of data from other states or categories could either imply a focused strategy on the Oregon Topicals market or a missed opportunity for broader market engagement. This selective visibility into the brand's performance underscores the importance of monitoring its future expansions and category diversifications to fully assess its market potential and consumer appeal across different demographics and regions.
Competitive Landscape
In the competitive landscape of the topical cannabis category in Oregon, Physic Cannabis Therapy has shown a noteworthy performance. Starting from November 2023, Physic Cannabis Therapy ranked 15th and saw a slight improvement in its position to 13th by February 2024. This upward trend in rank is mirrored by a significant increase in sales, indicating a growing consumer preference for their products. Competitors such as Green Revolution and Buddies have experienced fluctuations in their rankings, with Green Revolution dropping out of the top rankings in January 2024 and Buddies seeing a gradual decline from 7th to 12th place over the same period. Meanwhile, Farmer's Friend Extracts and Sun God Medicinals have shown stability but not significant growth, maintaining their mid-tier positions. The data suggests that Physic Cannabis Therapy is on a positive trajectory, outpacing some of its competitors in terms of rank improvement and sales growth, which could position it favorably among consumers looking for reliable topical cannabis products in Oregon.
Notable Products
In February 2024, Physic Cannabis Therapy's top-selling product was "Wood Balms Away Mini (5g, 0.18oz)" from the Topical category, maintaining its number one rank from the previous two months with 61 sales. Following closely, "Field Balms Away (45mg THC, 12mg CBD, 0.18 oz)" secured the second position, showing a consistent performance by holding the third rank in the months leading up to February and achieving 60 sales. The third spot was taken by "CBD:THC 1:3 Wood Balms Away (150mg CBD, 450mg THC, 0.18oz)", which saw a rank shift from second to third, indicating a slight change in consumer preference within the Topical category. Notably, the "CBD/THC Fragrance Free Nude Balm (120mg CBD, 440mg THC)" and "Wood Balm (500mg THC, 1.8 oz)" were among the top products in earlier months but did not make the top ranks in February. This shift highlights the dynamic nature of consumer preferences in the cannabis product market.
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