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Jun-2024
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Overview
Market Insights Snapshot
Remidose has shown a steady performance in the Ohio market, particularly within the Tincture & Sublingual category. Over the past four months, the brand has consistently ranked within the top 10, starting at 7th place in March 2024 and fluctuating between 8th and 9th place in subsequent months. Despite a slight drop in sales from March to May, there was a notable recovery in June, indicating a potential rebound or successful marketing strategy. The brand's ability to maintain a strong presence in a competitive category highlights its resilience and consumer appeal in Ohio.
However, it's important to note that Remidose's absence from the top 30 rankings in other states and categories could be seen as a limitation in its market reach and category diversification. This lack of presence outside of Ohio suggests that while the brand is performing well in one specific market and category, there may be opportunities for growth and expansion that have yet to be tapped. For stakeholders and potential investors, understanding these dynamics and the brand's strategic focus areas could provide valuable insights into its overall market performance and future potential.
Competitive Landscape
In the Ohio Tincture & Sublingual category, Remidose has experienced notable fluctuations in its rank and sales over recent months. Starting at rank 7 in March 2024, Remidose dropped to rank 9 by May 2024 before slightly recovering to rank 8 in June 2024. This downward trend in rank correlates with a significant dip in sales, from $16,163 in March to $10,047 in May, before a modest rebound to $14,777 in June. Comparatively, Doctor Solomon's has maintained a strong and stable presence, consistently ranking in the top 4 and achieving higher sales figures, peaking at $41,250 in April. Meanwhile, Click has shown a steady improvement, rising from rank 9 in April to rank 8 in May, with sales figures slightly increasing from $13,048 to $13,373. Standard Farms made a notable entry at rank 6 in June, indicating a strong market presence. These competitive dynamics suggest that while Remidose faces challenges in maintaining its market position, there is potential for recovery with strategic adjustments.
Notable Products
In June 2024, Remidose's top-performing product was Grape Sublingual Oral Spray (500mg) in the Tincture & Sublingual category, reclaiming its number one rank with sales of 118 units. Strawberry Sublingual Oral Spray (500mg) held the second position, showing a consistent improvement from its third rank in April 2024. Berry Sublingual Oral Spray (500mg) dropped to third place after leading in May 2024. Pomegranate Sublingual Oral Spray (500mg) maintained its fourth position from the previous month. Notably, Pomegranate Sublingual Spray (550mg) entered the rankings at fifth place in June, indicating a new addition to the top-performing products.
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