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Jun-2024
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Overview
Market Insights Snapshot
Standard Farms has shown varied performance across different categories and states. In Massachusetts, their presence in the Concentrates category has seen a decline, dropping out of the top 30 by June 2024 after ranking 21st in March. Their Flower category also experienced a downward trend, moving from 11th place in March to 27th by June. This suggests a significant reduction in market share within the state. Conversely, their performance in the Vapor Pens category has consistently remained outside the top 50, indicating a weak foothold in this segment within Massachusetts.
In contrast, Ohio presents a more optimistic picture for Standard Farms. The brand has shown strong performance in the Tincture & Sublingual category, securing the 6th position by June 2024. Their Flower category rankings have improved, moving from 30th in March to 24th in June, showing resilience and growth. Additionally, their Vapor Pens category performance has been stable, maintaining a position within the top 30, peaking at 19th in May. Notably, Standard Farms entered the Concentrates category in Ohio by June 2024 at 18th place, indicating a potential new area of growth.
Competitive Landscape
In the highly competitive Massachusetts flower category, Standard Farms has experienced notable fluctuations in rank and sales over recent months. Starting strong in March 2024 with an 11th place rank, Standard Farms saw a decline to 27th place by June 2024. This downward trend in rank is mirrored by a significant drop in sales, from $925,573 in March to $453,637 in June. In contrast, Trees Co. (TC) showed more stability, maintaining a mid-tier position with a rank fluctuating between 16th and 25th, and sales peaking at $724,420 in May. Another competitor, Bask (MA), demonstrated a steady climb from 42nd to 26th place, with sales increasing from $354,738 in March to $471,027 in June. Meanwhile, HelloHii maintained a relatively stable rank, ending June at 29th place with a slight sales increase. Ozone was absent from the top 20 in April and May, indicating a potential struggle in maintaining market presence. These dynamics suggest that while Standard Farms started the period strongly, it faces significant challenges in maintaining its market position amidst rising competition.
Notable Products
In June 2024, the top-performing product from Standard Farms was NF1 Shake (7g) in the Flower category, achieving the number one rank with sales of $1054. Sour Cream (14.15g), also in the Flower category, maintained its second position from the previous month with sales increasing slightly to $985. AK47 Distillate Cartridge (0.84g) in the Vapor Pens category secured the third rank, followed by Strawberry Banana Distillate Cartridge (0.84g) in fourth place. LA Kush Cake Shake (7g), another Flower category product, was ranked fifth, a drop from its second-place ranking in March 2024. Overall, the Flower category dominated the top ranks, with notable stability and slight improvements in sales figures for the leading products.
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