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Mar-2024
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Overview
Market Insights Snapshot
In Illinois, Remedi has shown a consistent presence across several cannabis product categories, indicating a strong foothold within the state's market. Notably, in the Capsules category, Remedi maintained a stable position, ranking 5th from January to March 2024, despite a slight decline in sales over these months. This consistency in ranking, despite fluctuating sales figures, suggests a solid demand for their Capsules. Similarly, in the Tincture & Sublingual category, Remedi improved its position, moving up to 3rd place in March 2024 from 4th in the preceding months. This upward movement, coupled with an increase in sales from January to March, highlights a growing consumer preference for Remedi's offerings in this category. However, the Concentrates category tells a different story of volatility, with rankings oscillating between 14th to 20th place over the same period, though it's worth noting a significant sales jump in March 2024.
On the other hand, Remedi's performance in Massachusetts presents a contrasting picture, particularly within the Concentrates category. The brand struggled to secure a spot within the top 30 brands in Massachusetts, only appearing in the rankings in January and February 2024 at the 90th and 87th positions, respectively. This starkly contrasts with its performance in Illinois and indicates a significant challenge in penetrating the Massachusetts market or a possible strategic focus on other states or categories. The absence of sales data for Massachusetts in December 2023 and March 2024 further obscures the brand's performance trajectory in this state. This discrepancy in market performance between Illinois and Massachusetts could suggest regional preferences or competitive dynamics that Remedi faces in expanding its market share outside its established strongholds.
Competitive Landscape
In the competitive landscape of the concentrates category in Illinois, Remedi has shown a notable fluctuation in its market position from December 2023 to March 2024, moving from 20th to 14th rank. This upward trajectory in rank is indicative of a positive sales trend, despite stiff competition. Notably, Cresco Labs experienced a slight decline, moving from 10th to 12th rank, while Cookies saw a more volatile path, ultimately dropping to 16th rank by March 2024. Interestingly, UpNorth Humboldt made a significant leap from not being in the top 20 to securing the 13th position by March, just ahead of Remedi. Avexia also saw improvements, ending up at 15th rank. Remedi's performance, particularly its ability to outpace several competitors and close the gap with others, underscores its growing presence and potential in the Illinois concentrates market, despite the highly competitive environment.
Notable Products
In March 2024, Remedi's top-performing product was the Indica Rest RSO Dropper (0.5g) from the Concentrates category, maintaining its number one rank from previous months with impressive sales of 3881 units. Following closely, the Indica Relief RSO Syringe (0.5g), also a Concentrate, held its second position consistently across the months. The Indica Rest RSO Syringe (0.5g) showed notable progress, climbing from fifth to third place, indicating a growing preference among consumers. In the Tincture & Sublingual category, the CBD/THC 1:1 Relief Tincture (50mg CBD, 50mg THC, 30ml) rose to the fourth rank, while the CBD/THC 1:5 Rest Tincture (20mg CBD, 100mg THC, 30ml) dropped to the fifth position, reflecting a shift in consumer demand within this category. These rankings highlight a stable interest in Concentrates, with a dynamic shift observed in the Tincture & Sublingual preferences among Remedi's offerings.
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