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Mar-2024
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Overview
Market Insights Snapshot
In the competitive cannabis market of Nevada, Spiked Flamingo has shown a diverse performance across different product categories, with notable movements in rankings over recent months. The brand's presence in the concentrates category has remained relatively stable, hovering around the late 20s, a consistent performance that suggests a steady demand for their products in this segment. However, a more significant fluctuation can be observed in the vapor pens category, where Spiked Flamingo experienced a decline from rank 31 in December 2023 to rank 44 by March 2024. This downward trend, coupled with a sharp decrease in sales from 84,829 in December to 14,020 in March, indicates a potential challenge in maintaining its market share in this highly competitive category.
On a brighter note, Spiked Flamingo has demonstrated strong performance in the tincture & sublingual and pre-roll categories. Remarkably, it has maintained a top 3 position in the tincture & sublingual category across the observed months, showcasing a consistent consumer preference for their offerings in this niche. The pre-roll category, despite a slight dip from rank 9 in December 2023 to rank 19 by March 2024, still reflects a significant market presence, especially considering the initial high ranking. This slight decline might reflect market dynamics or increased competition but still underscores a strong foothold. Notably, the flower category saw the brand outside the top 30 rankings, highlighting areas where Spiked Flamingo might need to bolster its strategies to capture consumer interest and improve its standing.
Competitive Landscape
In the competitive landscape of the pre-roll cannabis market in Nevada, Spiked Flamingo has experienced notable fluctuations in its ranking and sales over recent months. Initially positioned as the 9th top brand in December 2023, it climbed to 8th in January 2024, before slipping to 11th in February and further down to 19th by March 2024. This trajectory suggests a challenging period for Spiked Flamingo, especially when compared to its competitors. For instance, Green Life Productions showed resilience by improving its rank from 15th to 12th between December 2023 and February 2024, despite a slight dip to 17th in March. Meanwhile, TRENDI made significant gains, moving from outside the top 20 in December to 16th by February and maintaining a competitive stance with a 20th place in March. Another notable competitor, &Shine, although experiencing a dip in rank from 7th to 18th between December 2023 and March 2024, managed to stay ahead of Spiked Flamingo in the latest month. These movements highlight the dynamic nature of the market and underscore the challenges Spiked Flamingo faces in maintaining its competitive position amidst fluctuating sales and ranks.
Notable Products
In Mar-2024, Spiked Flamingo's top-performing product was Orangecello Infused Pre-Roll (1g) within the Pre-Roll category, securing the 1st rank with notable sales of 1852 units. Following closely, Gemelo Infused Pre-Roll (1g) also in the Pre-Roll category, took the 2nd rank, showcasing its popularity. The third spot was held by Funky Melo Infused Pre-Roll (1g), indicating a strong preference for infused pre-rolls among Spiked Flamingo's offerings. Notably, the Watermelon Tincture (800mg) from the Tincture & Sublingual category broke into the top ranks at 4th place, marking a diversification in consumer choices. The rankings of these products have shown significant changes from previous months, emphasizing a dynamic shift in consumer preferences within Spiked Flamingo's product range.
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