Jun-2024
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Overview
Market Insights Snapshot
Pure Essentials has shown a consistent performance in the Illinois market, particularly in the Capsules category where it maintained a solid rank of 3rd place from March to June 2024. This stability is indicative of a strong customer base and reliable product quality. However, in the Tincture & Sublingual category, while the brand showed an improvement from 4th to 3rd place between March and April, it dropped back to 5th place by June. This suggests some fluctuations in consumer preferences or competitive pressures within this category. Meanwhile, in the Topical category, Pure Essentials improved its ranking from 6th in March to 4th in May, but slightly dipped to 5th in June, indicating a relatively strong but competitive position.
In terms of sales, Pure Essentials experienced a slight decline in the Capsules category, with sales decreasing from $166,279 in March to $139,831 in June. This trend might reflect seasonal changes or shifts in consumer spending. Conversely, the Tincture & Sublingual category saw a peak in April with sales of $25,386, followed by a decline to $17,846 in June, which could point to either market saturation or increased competition. Interestingly, the Topical category showed a positive sales trajectory, with an increase from $20,551 in March to $25,049 in June, suggesting growing consumer interest or successful marketing efforts in this segment. These movements highlight the importance of closely monitoring category-specific trends and adapting strategies accordingly.
Competitive Landscape
In the Illinois capsules category, Pure Essentials has maintained a consistent rank of 3rd place from March to June 2024. Despite this steady position, the brand faces significant competition from top-ranked 1906, which has held the number one spot throughout the same period. 1906's dominance is evident, with sales figures consistently much higher than those of Pure Essentials. Additionally, Avexia has secured the 2nd rank, also outperforming Pure Essentials in sales. Notably, Breez and Remedi have not posed a significant threat, as they have not appeared in the top 20 for March and have lower sales figures in subsequent months. This competitive landscape suggests that while Pure Essentials is holding its ground, there is a need for strategic initiatives to boost sales and potentially challenge the leading brands.
Notable Products
In June 2024, the top-performing product for Pure Essentials was Sativa Momentum Capsules 10-Pack (100mg), maintaining its first-place ranking with sales of $1963. The CBD/THC 2:1 Body Oil (200mg CBD, 100mg THC, 15ml) climbed to second place from third in May 2024, showing consistent improvement over the months. Cronuts #4 Capsules 10-Pack (100mg) dropped to third place from its previous second-place ranking. Relax Hybrid Chill Pill Capsule 10-Pack (100mg) moved up to fourth place from fifth in May 2024, indicating a rebound in popularity. Indica Night Capsules 10-Pack (100mg) re-entered the rankings at fifth place, having not been ranked in April and May 2024.