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Feb-2024
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Overview
Market Insights Snapshot
In Illinois, Safety Meeting has shown a consistent presence across multiple cannabis product categories, albeit with varying degrees of success. The brand's performance in the Concentrates category has been relatively stable, maintaining a position in the late twenties from November 2023 through February 2024, with a slight dip in February to rank 28th. This suggests a steady demand for their concentrates, though competition remains fierce, preventing significant rank advancement. The Flower category tells a different story, with rankings slipping from the 43rd position in November 2023 to 46th by February 2024. This downward trend, coupled with a notable drop in sales from January to February, could indicate challenges in maintaining market share or possibly shifts in consumer preferences within the Illinois market.
Looking at other categories, Safety Meeting's performance in Pre-Rolls and Vapor Pens in Illinois reveals interesting dynamics. Pre-Rolls experienced a notable fluctuation, initially ranking 46th in November 2023, then dropping to 52nd in December, before partially recovering to 55th by February 2024. This volatility might reflect operational challenges or shifts in consumer buying patterns. On the other hand, the Vapor Pens category showed an impressive jump in rank from 50th in December 2023 to 45th in January 2024, before settling at 48th in February. This peak, coinciding with a significant increase in sales in January, highlights a potential growth area for Safety Meeting, suggesting that strategic focus on this category could yield positive results. Overall, while Safety Meeting faces challenges in certain areas, there are clear opportunities for growth, particularly in the Vapor Pens category.
Competitive Landscape
In the competitive landscape of the Flower category in Illinois, Safety Meeting has experienced notable shifts in its market position and sales performance. Initially ranking 43rd in November 2023, Safety Meeting improved to 42nd in December before returning to its original rank in January 2024, and then slightly declining to 46th in February. This fluctuation in rank is mirrored by its sales trajectory, which saw a significant increase from November to January, followed by a decrease in February. Its competitors, such as Old Pal and nuEra, have shown more stability in their rankings and a consistent increase in sales, with nuEra maintaining a higher rank and Old Pal closely trailing Safety Meeting in terms of rank but surpassing it in sales growth by February 2024. Another notable competitor, Find., despite starting at lower ranks, has seen a significant sales increase, hinting at a competitive market dynamic. Safety Meeting's fluctuating performance indicates a challenging environment, with competitors like nuEra and Old Pal presenting strong sales growth and stability in rankings, potentially affecting Safety Meeting's market share and positioning in the Illinois Flower category.
Notable Products
In February 2024, Safety Meeting's top-performing product was XXX (3.5g) within the Flower category, securing the first rank with impressive sales of 944 units. Following closely was Stone Sour (3.5g), also from the Flower category, which moved down to the second rank after being the top product in both December 2023 and January 2024. The LSD Pre-Roll (1g) from the Pre-Roll category made a notable jump to the third rank, despite not being ranked in the previous two months. New entries to the top products list were Slurty3 (7g) and XXX Mixed Buds (3.5g) in the Flower category, ranking fourth and fifth respectively, indicating a growing diversity in consumer preferences within Safety Meeting's product range. This shift highlights a dynamic change in consumer preferences, with previously unranked products making significant headway in February.
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