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Jun-2024
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Overview
Market Insights Snapshot
Silver Lake has shown variable performance across different states and categories, with notable movements in Colorado. In the Flower category, Silver Lake's rank saw a significant drop from 6th place in March to 21st place by June. This downward trajectory indicates potential challenges in maintaining market share within this category. However, despite the decline in ranking, the brand experienced a peak in sales in April, reaching over $1.1 million before dropping to approximately $302,849 in June. This fluctuation suggests that while Silver Lake has the capability to achieve high sales, sustaining that performance is an area for improvement.
In other states and categories, Silver Lake's presence is less prominent, as they did not rank within the top 30 brands. This absence could be seen as a missed opportunity for the brand to expand its market footprint. The Flower category in Colorado appears to be the primary focus for Silver Lake, but the lack of top rankings in other regions and categories may indicate a need for diversification and strategic growth. Overall, while Silver Lake has demonstrated strong sales potential, the brand's performance across different states and categories suggests areas for strategic improvements and market expansion.
Competitive Landscape
In the competitive landscape of the Flower category in Colorado, Silver Lake experienced notable fluctuations in its rank and sales from March to June 2024. Initially holding strong at rank 6 in March and April, Silver Lake saw a significant drop to rank 21 by June. This decline in rank is accompanied by a substantial decrease in sales, from a high of $1,130,622 in April to just $302,849 in June. In contrast, LoCol Love (TWG Limited) demonstrated a more stable performance, maintaining a top 20 position throughout the period and peaking at rank 14 in May. Similarly, Pure Greens showed an upward trend, climbing from rank 34 in March to rank 19 in June. The competitive pressure from these brands, along with others like Freedom Road and Hummingbird, which also improved their rankings, suggests that Silver Lake needs to reassess its market strategies to regain its earlier momentum.
Notable Products
In June 2024, Fruity Pebbles (Bulk) from Silver Lake was the top-performing product, maintaining its number one rank from the previous month with notable sales of $16,262. Pineapple Punch (Bulk) emerged as the second top performer for the first time. Meat Breath (Bulk) improved its position to rank third, up from fifth in May 2024. Banana Zkittlez (Bulk) entered the top five for the first time, securing the fourth rank. Lemon Pound Cake (Bulk) saw a decline, dropping from fourth to fifth place with a sales figure of $7,125.
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