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Jun-2024
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Overview
Market Insights Snapshot
Pine + Star has shown a steady performance in the Beverage category in Massachusetts. For four consecutive months from March to June 2024, the brand has consistently held the 7th position. This indicates a stable presence in the market, with sales figures reflecting a positive upward trend. Starting with $59,909 in March and increasing to $92,763 by June, the growth trajectory highlights a robust demand for their products. However, it's worth noting that remaining in the same rank might also suggest a need for strategic initiatives to climb higher in the rankings.
While Pine + Star's performance in Massachusetts is commendable, the brand's absence from the top 30 in other states and categories could be a point of concern. This lack of presence may indicate potential areas where the brand could expand or improve its market strategies. The consistent ranking in Massachusetts shows that the brand has a strong foothold in at least one significant market, but there is room for growth and diversification across other regions and categories. By analyzing the factors contributing to their success in Massachusetts, Pine + Star could potentially replicate these strategies to enhance their performance in other markets.
Competitive Landscape
In the Massachusetts beverage category, Pine + Star has maintained a consistent rank of 7th place from March to June 2024. Despite this steady ranking, Pine + Star has shown significant growth in sales, increasing from $59,909 in March to $92,763 in June. This upward sales trend is notable when compared to competitors such as CQ (Cannabis Quencher), which has remained at the 10th rank but with a slower sales growth, and Vibations, which has also maintained its 8th rank but with a lower sales volume. Meanwhile, CANN Social Tonics and Buzzy have consistently ranked higher, with Buzzy even climbing to the 5th position in June. The competitive landscape indicates that while Pine + Star is not yet in the top 5, its rapid sales growth suggests potential for future rank improvements if the trend continues.
Notable Products
In June 2024, Pine + Star's top-performing product was Blueberry Lemonade Sparkling Beverage (5mg THC, 355ml, 12oz), maintaining its first-place ranking with a notable sales figure of 7436 units. Cape Cod Cranberry Sparkling Beverage (5mg THC, 355ml, 12oz) held steady in second place, while Tea & Lemonade (5mg THC, 12oz) continued to rank third. Classic Grapefruit Sparking Beverage (5mg THC, 12oz) remained in fourth place, and Sparkling Cinnamon Cider Seltzer (5mg THC, 355ml, 12oz) stayed in fifth place. These rankings have been consistent since March 2024, indicating stable consumer preferences for these products.
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