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Jun-2024
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Overview
Market Insights Snapshot
Provisions has shown varied performance across different states and product categories in recent months. In Missouri, the brand's presence in the Vapor Pens category has seen a slow but steady improvement, moving from a rank of 67 in March 2024 to 62 in June 2024. This upward trend, coupled with a notable increase in sales from $13,448 in March to $14,049 in June, suggests a growing acceptance and market penetration for Provisions' Vapor Pens in the state. However, the brand's rank outside the top 30 in other categories indicates areas where they might need to focus more effort to gain traction.
In Nevada, Provisions has had a mixed performance across categories. The Vapor Pens category has been a strong point, maintaining a top 20 position consistently and achieving a peak rank of 15 in May 2024. This category also saw a significant sales boost, highlighting its popularity. Conversely, the brand's performance in the Flower category has been less stable, with ranks fluctuating and even falling out of the top 30 in March 2024. Despite this, the Flower category showed a substantial sales surge in April and May, indicating potential for future growth if the brand can stabilize its position. Meanwhile, Provisions' Concentrates category also showed positive movement, climbing from 32 in March to 24 in June, reflecting a strengthening market presence.
Competitive Landscape
In the competitive landscape of vapor pens in Nevada, Provisions has shown a relatively stable performance, maintaining a rank within the top 20 brands from March to June 2024. Despite a slight fluctuation in ranks, Provisions' sales have remained consistent, with a notable peak in May 2024. Comparatively, Srene experienced a significant drop in rank from 11th in March to 19th in June, indicating a downward trend in sales. On the other hand, Big Chief and Savvy have also seen fluctuations, with Big Chief's rank improving slightly in June and Savvy's rank showing a decline. Interestingly, BOUNTI made a notable jump from being outside the top 20 in March to securing the 15th spot in June, reflecting a significant increase in sales. These dynamics suggest that while Provisions is holding steady, there is a competitive pressure from brands like BOUNTI, which are rapidly gaining market share.
Notable Products
In June 2024, the top-performing product for Provisions was the OG Kush Distillate Cartridge (1g) in the Vapor Pens category, which rose to the number one spot with sales of $1238. This product saw significant growth from its fifth position in May 2024. The Super Sour Diesel Distillate Cartridge (1g) secured the second position, while the Durban Poison Distillate Cartridge (1g) followed closely in third place. The Jack Herer Distillate Cartridge (1g) dropped from the top position in May to fourth place in June. Lastly, the Trainwreck Distillate Cartridge (1g) maintained a consistent presence, rounding out the top five.
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