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Jun-2024
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Overview
Market Insights Snapshot
Spot has shown notable performance variations across different states and categories in recent months. In Ontario, the brand has made a significant entry into the Edible category. Despite not being in the top 30 brands in March and April, Spot climbed to rank 29 in May and further improved to rank 28 in June. This upward trend indicates a growing acceptance and popularity of Spot's products in the Ontario market. Such movements are promising for the brand, suggesting a potential for sustained growth if current trends continue.
In contrast, Spot's performance in the Washington Edible category has seen a downward trajectory. Starting at rank 21 in March, Spot gradually fell to rank 33 by June, indicating a loss of market share over these months. This decline could be a cause for concern as it suggests increasing competition or possible shifts in consumer preferences. The drop from rank 24 in May to 33 in June is particularly significant, highlighting the need for strategic adjustments to regain market position. Monitoring these trends closely will be crucial for Spot to navigate the competitive landscape effectively.
Competitive Landscape
In the Washington Edible market, Spot has experienced a notable decline in its rankings and sales over the past few months. Starting from March 2024, Spot was ranked 21st, but by June 2024, it had fallen to 33rd place. This downward trend in rank is mirrored by a significant drop in sales, from 81,676 units in March to just 22,116 units in June. In contrast, competitors like C4 Cannaburst and SnacMe have maintained more stable positions, with C4 Cannaburst consistently holding around the 29th rank and SnacMe improving slightly from 33rd to 30th. Additionally, Northwest Cannabis Solutions and Saints have shown minor fluctuations but remain within the top 40. Spot's decline suggests it may be losing market share to these more stable or slightly improving competitors, indicating a need for strategic adjustments to regain its footing in the Washington Edible market.
Notable Products
For June 2024, the top-performing product from Spot is the CBG:THC 4:1 Gooseberry Soft Chews 2-Pack (40mg CBG, 10mg THC), maintaining its first-place rank with notable sales of $4400. The Adventure Blend - CBD/THC 3:10 Sativa Dark Chocolate Bar 10-Pack (30mg CBD, 100mg THC) climbed to second place, showing a consistent rise from fourth in April and third in May. The Vacation Blend - CBD/THC 1:1 Indica Dark Chocolate Squares 10-Pack (100mg CBD, 100mg THC) dropped to third place after holding the top spot in March and second place in April and May. The Levity Blend - CBD/THC 10:3 Hybrid Dark Chocolate Bar 10-Pack (100mg CBD, 30mg THC) entered the rankings in fourth place. The Raspberry Soft Chews 2-Pack (10mg) remained steady in fifth place for three consecutive months.
Top Selling Cannabis Brands
