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Apr-2024
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Overview
Market Insights Snapshot
In the competitive cannabis market of Ohio, Revel has shown noteworthy performance across different categories, particularly in Concentrates and Flower. In the Concentrates category, Revel demonstrated a strong presence by maintaining its position within the top 15 brands from January to April 2024, peaking at rank 10 in February and March before slightly dropping to rank 11 in April. This performance is underscored by a significant sales figure of $67,111 in February 2024, indicating a robust demand for their Concentrates. However, the slight drop in rank and sales in April suggests a dynamic competitive landscape that Revel navigates within the Ohio market.
On the other hand, Revel's performance in the Flower category tells a different story. Starting at rank 52 in January and February 2024, there was a gradual improvement in their positioning, moving up to rank 45 in March and further to rank 44 in April. While this upward trend is positive, the fact that Revel's Flower category did not break into the top 30 during these months highlights a challenge in capturing a larger market share amidst stiff competition. Despite these challenges, the incremental improvement in rankings suggests a potential for growth and an opportunity for Revel to further enhance its market presence in Ohio's cannabis industry.
Competitive Landscape
In the competitive landscape of the concentrates category in Ohio, Revel has shown a fluctuating performance over the recent months. Starting the year in the 13th rank, Revel improved to the 10th position in both February and March 2024, before slightly dropping to the 11th rank in April. This indicates a strong presence in the market, yet it faces stiff competition from notable brands. Buckeye Relief and Firelands Scientific have been significant competitors, with Buckeye Relief experiencing a notable dip to the 14th rank in March before recovering to 10th in April, and Firelands Scientific maintaining a steady presence in the top 10. Interestingly, Origyn Extracts made a notable entry into the rankings in April at 12th position, directly competing with Revel. Meanwhile, Avexia has shown consistent improvement, moving from 20th to 13th place from January to April. This dynamic ranking shift, especially with the entry of Origyn Extracts and the fluctuating positions of Buckeye Relief and Firelands Scientific, suggests a highly competitive market where Revel must continue to innovate and adapt to maintain and improve its market position.
Notable Products
In April 2024, Revel's top-performing product was the Indica RSO Syringe (0.84g) from the Concentrates category, maintaining its number one rank from March with sales figures reaching 452 units. Following closely, the Sativa RSO Syringe (0.84g), also in the Concentrates category, climbed to the second position from its fourth rank in March, showcasing significant sales momentum. The third spot was secured by Rainbow Sherbert #11 Moonrock (1g) from the Flower category, which held its position steadily from the previous month. Velvet Pie Moonrocks (1g), another Flower category product, improved its ranking to fourth in April, up from fifth in March, indicating a growing interest in Revel's flower products. Notably, Caesar Ice Water Bubble Hash (1g) from the Concentrates category made a leap into the top five, a remarkable achievement considering it was not ranked in the previous month.
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