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Jun-2024
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Overview
Market Insights Snapshot
Srene's performance across various categories in Nevada has shown some fluctuations over the past few months. In the Concentrates category, Srene made it into the top 30 in March 2024, securing the 29th spot, but did not maintain its ranking in subsequent months, indicating a potential area for improvement. On the other hand, the Flower category has seen more consistent performance, with Srene hovering around the 30th position. Despite a slight dip in April 2024, where it ranked 38th, Srene managed to climb back to 31st in May and maintained a similar position in June.
In the Vapor Pens category, Srene has experienced a downward trend, starting from the 11th position in March 2024 and gradually descending to the 19th spot by June 2024. This decline suggests a need for strategic adjustments to regain higher rankings. The sales data supports this trend, showing a decrease from 332,542 in March to 227,013 by June. The brand's ability to stay within the top 20 in Vapor Pens, however, still highlights its competitive presence in this category. Overall, while Srene has maintained a noticeable presence in Nevada, there are clear opportunities for growth and stabilization across different product categories.
Competitive Landscape
In the competitive landscape of vapor pens in Nevada, Srene has experienced notable fluctuations in its rank and sales over recent months. Starting at rank 11 in March 2024, Srene saw a decline to rank 19 by June 2024, indicating a downward trend in market position. This decline is mirrored in its sales, which dropped from $332,542 in March to $227,013 in June. In contrast, Provisions maintained a relatively stable rank, fluctuating between 15 and 17, with sales showing a slight increase overall. Church Cannabis Co. also experienced a decline, falling out of the top 20 by June, while Savvy showed more resilience, maintaining a rank close to 18 with relatively stable sales. The entry of Sauce Essentials into the top 20 in June suggests increasing competition. These trends highlight the competitive pressures Srene faces, emphasizing the need for strategic adjustments to regain market share in Nevada's vapor pen category.
Notable Products
In June 2024, Strange Haze #8 (3.5g) from Srene emerged as the top-performing product, climbing from the second position in May to first place with impressive sales of $2,312. DayStripper Distillate Cartridge (1g) held a strong performance, albeit dropping from first place in April to second place in June with sales of $1,083. Purple Slush Distillate Cartridge (1g) entered the rankings for the first time, securing the third position. Jet Fuel Acai X Garlic Breath #4 (3.5g) also made its debut in the rankings, achieving fourth place. Purple Haze (3.5g) saw a decline, moving from third place in April to fifth place in June.
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