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Jun-2024
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Overview
Market Insights Snapshot
Plus has shown consistent performance in the Edible category across California. Over the past four months, the brand has maintained a steady 8th rank, which is notable given the competitive nature of the market. Despite a slight decline in sales from March to May, Plus managed to stabilize its figures in June, indicating a resilient market presence. This consistency in ranking suggests that Plus has a loyal customer base and effective market strategies in place, even though the overall sales trend shows a slight downward movement.
However, Plus's absence from the top 30 in other states and categories raises some concerns about its market penetration outside of California. The brand's stronghold seems to be primarily localized, which could be a potential area for growth and expansion. The lack of presence in other markets might indicate either a strategic focus on California or challenges in scaling their operations. This localized success, while commendable, suggests that Plus might benefit from diversifying its geographic footprint to mitigate risks and tap into new customer bases.
Competitive Landscape
In the competitive landscape of the California edible cannabis market, Plus has maintained a consistent rank of 8th place from March to June 2024. Despite this stability, Plus faces stiff competition from brands like Smokiez Edibles and Froot. Notably, Froot has shown a strong performance, climbing to 5th place in May before settling back to 6th in June, with sales consistently higher than Plus. Meanwhile, Smokiez Edibles has maintained a steady 7th place rank, also outperforming Plus in sales. On the other hand, Highatus and Good Tide have remained below Plus, ranking 10th and 9th respectively, with lower sales figures. These dynamics suggest that while Plus holds a solid position, there is significant upward pressure from higher-ranked competitors, indicating a need for strategic initiatives to boost market share and sales.
Notable Products
In June 2024, the top-performing product from Plus was Sleep - THC/CBD/CBN 10:5:5 Midnight Berry Sleep Gummies 20-Pack (100mg THC, 50mg CBD, 50mg CBN), maintaining its number one rank consistently over the past four months with sales of 20,071 units. Following closely, PLUS Sleep - THC/CBD/CBN 5:1:1 Cloudberry Sleep Gummies 20-Pack (100mg THC, 20mg CBD, 20mg CBN) held the second position, a slight improvement from its third rank in April 2024. CBD/CBG/THC 20:5:1 Relief Tart Cherry Gummies 20-Pack (400mg CBD, 100mg CBG, 20mg THC) remained steady at the third rank, showing a slight increase in sales compared to the previous month. Classic- Sour Watermelon Gummies 20-Pack (100mg), consistently ranked fourth, saw a minor sales increase to 6,647 units in June. Lastly, Sleep - THC/CBD/CBN 1:2:3 Lychee Sleep Gummies 20-Pack (20mg THC, 40mg CBD, 60mg CBN) maintained its fifth position, with a slight uptick in sales from May.
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