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Jun-2024
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Overview
Market Insights Snapshot
Sherbinskis has shown varied performance across different categories and states/provinces. In British Columbia, the brand has struggled in the Pre-Roll category, dropping from rank 35 in March 2024 to rank 51 by June 2024. This decline in ranking is accompanied by a steady decrease in sales, indicating a weakening presence in this category. Conversely, in the Vapor Pens category, Sherbinskis has maintained a relatively stable position, holding ranks 14 and 13 over the same period. This stability is reflected in a positive sales trend, with a noticeable increase from April to June 2024.
In Ontario, Sherbinskis has faced challenges in the Pre-Roll category as well, where the brand fell out of the top 30 by June 2024, suggesting a significant drop in market presence. However, in the Vapor Pens category, Sherbinskis has shown resilience, maintaining a top 20 ranking throughout the period, although there was a slight drop from rank 13 in March to rank 16 in June 2024. This consistency in the Vapor Pens category is contrasted with their performance in California, where the brand has improved its ranking from 88 in March to 67 in May 2024, before slipping back to 71 in June 2024. This fluctuation highlights the competitive nature of the market and the brand's need to focus on maintaining its upward trajectory.
Competitive Landscape
In the highly competitive Vapor Pens category in Ontario, Sherbinskis has experienced a slight decline in its ranking over the past few months, moving from 13th place in March 2024 to 16th place by June 2024. This downward trend in rank is accompanied by a decrease in sales, from $609,214 in March to $485,577 in June. Notably, Versus has shown a more dynamic performance, climbing from 16th place in March to 12th place in May before settling at 14th in June, with sales peaking at $657,488 in May. Meanwhile, Weed Me and Jonny Chronic have maintained relatively stable positions, though Weed Me saw a slight improvement in June. The entry of Community Cannabis into the top 20 in June, after missing the rankings in April and May, indicates increasing competition. These shifts suggest that Sherbinskis needs to innovate or adjust its marketing strategies to regain its standing and counteract the upward momentum of its competitors.
Notable Products
In June 2024, the top-performing product from Sherbinskis was the Pink Sherbs Live Resin Disposable (0.5g) in the Vapor Pens category, maintaining its first-place ranking from May with a notable sales figure of 4675 units. The Pink Sherbs Live Resin Cartridge (1g), also in the Vapor Pens category, held steady in second place, despite a slight dip in sales compared to May. The Orange Sherbs Live Resin Cartridge (1g) remained consistent in third place, while the Mochi x Acai Infused Pre-Roll 2-Pack (1g) stayed in fourth place, showing a slight decrease in sales from the previous month. The Orange Sherbs Live Resin Disposable (0.5g) dropped to fifth place, continuing its downward trend since March. Overall, the top products showed strong performance with minor fluctuations in rankings and sales figures.
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