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Jun-2024
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Overview
Market Insights Snapshot
Polite has shown a consistent performance in the Washington market, particularly in the Tincture & Sublingual category. Over the past four months, the brand has maintained a steady 4th place ranking, indicating a strong and stable presence in this segment. Despite a slight dip in sales in May, the brand rebounded in June with an uptick, suggesting resilience and a loyal customer base. This stability in ranking and sales performance highlights Polite's sustained appeal in the Washington market, though it also suggests there is room for growth to break into the top three.
In other states, Polite's performance has not been as prominent, as the brand did not make it into the top 30 in any other state or category. This could be seen as a significant area for improvement or an opportunity for expansion. The absence from the top rankings in other markets might indicate either limited distribution or lower brand recognition outside of Washington. For stakeholders and potential investors, understanding the factors behind Polite's concentrated success in Washington could provide insights into how the brand might replicate this performance in other regions.
Competitive Landscape
In the Washington state Tincture & Sublingual category, Polite has consistently held the 4th rank from March to June 2024. Despite maintaining a steady position, Polite faces significant competition from brands like Green Revolution and Ceres. Green Revolution has shown strong performance, fluctuating between the 1st and 2nd ranks, indicating a dominant market presence. Meanwhile, Ceres has consistently held the 3rd rank, suggesting a stable but slightly less competitive edge compared to Green Revolution. Polite's sales figures have shown some variability, with a notable increase in June 2024, which could signal a positive trend if sustained. However, the gap in sales volume between Polite and its higher-ranked competitors highlights the need for strategic marketing efforts to boost its market share and potentially climb the ranks.
Notable Products
In June 2024, the top-performing product for Polite was the CBD/THC/CBN Rest Well Tincture, maintaining its first-place ranking from previous months with a notable sales figure of 337 units. The CBD/THC/CBG Relief Aid Tincture also held steady in second place across all months. The CBD/THC/CBG/CBN Cooling Recovery Muscle Topical Stick maintained its third-place position from May, having risen from fifth place in April. The CBD/CBG/THC Daily Defense Tincture remained consistently in fourth place, while the CBD/CBG/THC Power Up Tincture held the fifth spot, despite fluctuating rankings earlier in the year. Overall, the product rankings for Polite showed stability with minor shifts in lower-ranked positions.
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