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Jun-2024
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Overview
Market Insights Snapshot
SLATE has shown impressive performance in the Topical category in Massachusetts. In April 2024, the brand achieved a significant milestone by entering the top 10, securing the 9th rank. This is a notable improvement considering that SLATE was not even in the top 30 brands in March 2024. The substantial leap in ranking indicates a strong market presence and growing consumer preference for SLATE's topical products in Massachusetts. While the specific sales figures for May and June 2024 are not available, the brand's ability to break into the top 10 suggests a positive trend in sales and market penetration.
However, SLATE's performance across other categories and states remains less transparent due to the absence of ranking data. The lack of presence in the top 30 brands in other states or categories could be seen as a potential area for improvement. This gap in performance highlights the need for SLATE to possibly reassess its strategies in different markets to ensure a more uniform growth trajectory. The brand's success in Massachusetts serves as a benchmark, but it also underscores the importance of expanding their market influence beyond a single state and category.
Competitive Landscape
In the Massachusetts Topical category, SLATE has experienced notable fluctuations in its market rank and sales performance. As of April 2024, SLATE was ranked 9th, indicating a competitive position but also highlighting room for improvement. In contrast, Avexia consistently outperformed SLATE, securing the 4th rank in April 2024, which suggests a stronger market presence and potentially higher consumer preference. Another competitor, The Heirloom Collective, showed a dynamic performance, moving from 6th in April to 9th in June 2024, closely trailing SLATE. These shifts underscore the competitive landscape in Massachusetts' Topical market, where SLATE's position is relatively stable but faces significant competition from brands like Avexia and The Heirloom Collective. Understanding these trends can help SLATE strategize better to improve its rank and sales in the upcoming months.
Notable Products
In June 2024, the top-performing product from SLATE was CBD/THC 1:1 Wonder Balm (600mg CBD, 600mg THC, 6oz) in the Topical category, maintaining its number one rank for the fourth consecutive month. This product achieved sales of 39 units in June, a notable decrease from previous months. Despite the drop in sales, its consistent top-ranking position underscores its popularity and market dominance. Compared to March, April, and May 2024, where sales were 141, 232, and 56 units respectively, June's figures show a downward trend. This product's sustained high ranking despite declining sales highlights its strong customer base and market presence.
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