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Jun-2024
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Overview
Market Insights Snapshot
Polaris MMJ has shown varied performance across different product categories in Nevada. In the Flower category, the brand experienced a significant drop from a rank of 15 in March 2024 to 26 by June 2024. This decline in rankings is mirrored by a decrease in sales, from $445,288 in March to $228,895 in June. Such a trend suggests potential challenges in maintaining market share in this competitive category. On the other hand, their performance in the Vapor Pens category has been more volatile. Although they reached a rank of 24 in May, they fell to 32 by June, indicating inconsistent consumer demand or possibly supply chain issues affecting availability. In the Pre-Roll category, Polaris MMJ has struggled to break into the top 30, with rankings lingering in the 40s throughout the observed months. They were ranked 42 in March and 41 in June, showing slight improvement but still not enough to make a significant impact. Despite these challenges, the sales figures for Pre-Rolls remained relatively stable, hovering around the $32,000 to $49,000 range. This suggests that while they are not a top player in this category, there is a consistent, albeit small, consumer base for their products. The overall trends across categories indicate that while Polaris MMJ has a foothold in the Nevada market, there is room for growth and improvement, particularly in bolstering their Flower and Pre-Roll offerings.
Competitive Landscape
In the Nevada flower category, Polaris MMJ has experienced notable fluctuations in rank and sales over the past few months. Starting at rank 15 in March 2024, Polaris MMJ dropped to rank 26 by May and June 2024, indicating a significant decline in market position. This downward trend in rank is mirrored by a decrease in sales, from $445,288 in March to $228,895 in June. In comparison, Firestar maintained a higher rank than Polaris MMJ in March and April, but also saw a drop to rank 28 by June. Meanwhile, Verano and Cultivation Labs showed an upward trend, with Cultivation Labs climbing to rank 24 in June. Grassroots also improved its position to rank 25 in June, surpassing Polaris MMJ. These shifts highlight the competitive pressures Polaris MMJ faces in maintaining its market share and suggest a need for strategic adjustments to regain its standing in the Nevada flower market.
Notable Products
In June 2024, the top-performing product for Polaris MMJ was Head Cheese (3.5g) in the Flower category, maintaining its rank as number one with sales of $3,921. Head Cheese Pre-Roll (1g) in the Pre-Roll category climbed to the second position, showing a stable performance from previous months. Ice Cream Cake Pre-Roll (1g) entered the rankings at third place in the Pre-Roll category, demonstrating a significant rise. Head Cheese Distillate Cartridge (Half Gram) in the Vapor Pens category dropped to fourth place, indicating a decrease in sales. Ice Cream Cake (3.5g) in the Flower category moved down to fifth place, reflecting a slight decline from previous months.
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