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Jun-2024
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Overview
Market Insights Snapshot
Proof has shown a consistent performance in various categories across California. In the Capsules category, Proof maintained its 11th position from March to May 2024 and improved slightly to the 10th position in June 2024. This upward movement is a positive indicator, showing resilience despite a slight dip in sales from $83,120 in March to $76,540 in June. In the Tincture & Sublingual category, Proof has remained stable at the 7th position from April to June 2024, demonstrating strong and consistent sales performance in this segment. However, the slight drop in sales from $176,822 in May to $159,361 in June could be a point of concern if the trend continues.
On the other hand, Proof's performance in the Concentrates category has been less impressive. The brand did not make it into the top 30 rankings from March to June 2024, indicating a need for strategic improvements in this segment. In the Topical category, Proof experienced a slight fluctuation, moving from the 12th position in March to the 11th in April, and then dropping to the 13th position in May and June. This inconsistency suggests that while Proof has a presence in the Topical category, it may need to address certain market challenges to stabilize and improve its ranking. Overall, Proof's performance across categories in California shows both strengths and areas for potential growth, particularly in the Concentrates and Topical segments.
Competitive Landscape
In the competitive landscape of the California Tincture & Sublingual category, Proof has shown a steady performance, maintaining its rank at 7th place from April to June 2024 after climbing from 8th in March. This stability suggests a consistent market presence, although it faces stiff competition from brands like Mary's Medicinals, which held the 5th position consistently from April to June 2024. Jade Nectar showed a notable improvement, moving from 8th place in April and May to 6th in June, potentially indicating a rising threat. Meanwhile, Friendly Farms experienced a decline, dropping from 6th place to 8th in June, which could present an opportunity for Proof to capitalize on. ABX / AbsoluteXtracts remained stable at 9th place, posing less immediate pressure. Overall, Proof's consistent ranking amidst fluctuating competitors highlights its resilience and potential for growth in the California market.
Notable Products
In June 2024, the top-performing product for Proof was the CBD:THC 1:1 Bazillion Tincture Drops (1000mg CBD, 1000mg THC, 15ml) from the Tincture & Sublingual category, maintaining its first-place ranking with sales of $853. The CBD/THC 1:1 Balance Tincture (300mg CBD, 300mg THC, 15ml) followed closely in second place, dropping from its first-place position in May. The Indica Full Spectrum Oil Syringe (1g) entered the rankings for the first time in third place. The High THC Tincture (1000mg THC, 15ml) dropped to fourth place, continuing its decline from second place in March. Finally, the CBN/THC 1:1 Sleepy Tincture Drops (150mg CBN, 150mg THC, 15ml) remained steady in fifth place since its entry in May.
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