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Jun-2024
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Overview
Market Insights Snapshot
Sweet Talk has shown consistent performance in the Edible category across Maryland. Over the past few months, the brand maintained its rank at 21 in March and April 2024, before improving slightly to 19 in May and June 2024. This upward trend indicates a growing consumer preference for Sweet Talk's edible products in Maryland, despite the competitive landscape. The brand's sales figures also reflect this positive movement, with a notable increase from $103,444 in April to $158,634 in May.
However, Sweet Talk's absence from the top 30 brands in other states and categories might be a concern. This lack of presence suggests that while the brand has found a strong foothold in Maryland's edible market, it may need to strategize better to penetrate other regions and categories. The consistent ranking within the top 30 in Maryland is promising, but expanding this success to other states could be crucial for broader market dominance.
Competitive Landscape
In the Maryland Edible category, Sweet Talk has shown a consistent presence in the top 20 brands from March to June 2024, with its rank improving from 21st in March and April to 19th in May and June. This steady performance indicates a positive trend in consumer preference and market penetration. In comparison, BITS has maintained a higher and stable rank at 16th and 17th positions throughout the same period, suggesting a strong foothold in the market. Bubby's Baked has also shown consistency, holding the 18th position for three months before slipping to 20th in June. Meanwhile, AiroPro experienced a dip in May, falling out of the top 20, but rebounded to 18th in June, indicating some volatility. Beezle Extracts showed a significant jump in May to 20th but dropped to 21st in June. These dynamics suggest that while Sweet Talk is gaining traction, it faces stiff competition from well-established brands like BITS and Bubby's Baked, and the fluctuating ranks of AiroPro and Beezle Extracts highlight the competitive and dynamic nature of the Maryland Edible market.
Notable Products
In June 2024, the top-performing product from Sweet Talk was Guava Passionfruit Gummies 10-Pack (100mg), maintaining its leading position with notable sales of 1202 units. Blue Raspberry Gummies 10-Pack (100mg) followed closely in second place, although it dropped from its top spot in May. Sativa Orange Peach Nano Gummies 10-Pack (100mg) climbed to third place, showing consistent performance from the previous month. Green Apple Gummies 10-Pack (100mg) re-entered the rankings at fourth place, while Indica Strawberry Kiwi Nano Gummies 10-Pack (100mg) fell to fifth from second in May. The rankings highlight dynamic shifts in consumer preferences, with Guava Passionfruit Gummies showing a significant increase in popularity.
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