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Jun-2024
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Overview
Market Insights Snapshot
Temple has shown a consistent upward trend in the Concentrates category within Maryland. Starting from a ranking of 20 in March 2024, the brand improved its position to 16 by April and maintained a steady climb to rank 15 in May 2024. However, in June 2024, Temple slightly dropped back to 16th position. Despite this minor setback, the brand's sales figures have demonstrated significant growth, nearly doubling from March to June 2024. This indicates a strong market presence and increasing consumer preference for Temple's products in Maryland.
On the flip side, Temple's absence from the top 30 brands in other states and categories could be seen as a limitation in its market reach. The lack of rankings in additional states suggests that Temple may need to focus on expanding its distribution and marketing efforts beyond Maryland to capture a larger share of the cannabis market. This also highlights the competitive nature of the cannabis industry, where maintaining and improving rankings requires consistent innovation and customer engagement.
Competitive Landscape
In the Maryland concentrates market, Temple has shown a notable upward trajectory in its rankings and sales over the past few months. Starting from the 20th position in March 2024, Temple climbed to 16th in April, 15th in May, and maintained its 16th position in June. This consistent improvement is indicative of a growing market presence and customer base. In comparison, Kind Tree Cannabis also demonstrated growth, moving from the 20th position in April to 14th in June, which suggests a competitive edge in the same market. Meanwhile, #Hash entered the top 20 in May and maintained its 17th position through June, showing stable performance. Equity Extracts had a significant leap from being unranked in April to 14th in May and 15th in June, indicating a strong market entry. Grow West Cannabis Company appeared in the rankings in June at the 18th position, suggesting a late but notable entry. Temple's steady rise and sustained ranking amidst these competitors highlight its growing influence and potential for further market penetration in Maryland's concentrates category.
Notable Products
In June 2024, the top-performing product from Temple was Str8 Lemonade Nepalese Hash Ball (1g) in the Concentrates category, which jumped from the fifth position in May to the top rank with notable sales of $313. Grapple Pie Temple Ball Hash (1g) held the second position, down from its first-place ranking in May, with sales reaching $227. Sugar Cookies Temple Ball Hash (1g) secured the third spot, having previously been ranked fourth in May. Big Thai Moroccan Hash (1g) made its debut in the rankings at fourth place. Wedding Cake Temple Ball Hash (1g) dropped to fifth position from third in May, indicating a slight decline in its performance.
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