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Jun-2024
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Overview
Market Insights Snapshot
The 4.20Bar has shown notable performance within the Edible category across several states, with particular emphasis on Washington. In this state, the brand maintained a consistent ranking, staying at 14th place in both March and April of 2024 before experiencing a slight improvement to 13th place in May. However, by June, The 4.20Bar had dropped back to 15th place. Despite these fluctuations, the brand's sales exhibited a positive trend, growing from $193,339 in April to $212,360 in June. This upward trajectory in sales, despite the minor drop in ranking, suggests a strong consumer base and effective market strategies in Washington.
It's important to note that The 4.20Bar did not appear in the top 30 brands in several other states and categories, indicating areas where the brand could potentially expand its market presence. The absence from these rankings could be seen as a challenge but also an opportunity for growth. The brand's ability to maintain and slightly improve its position in Washington's competitive edible market speaks to its potential to replicate such success in other regions. Observing these trends can provide valuable insights for stakeholders looking to understand the brand's market dynamics and identify strategic opportunities for expansion.
Competitive Landscape
In the competitive landscape of the Washington edible cannabis market, The 4.20Bar has experienced notable fluctuations in its ranking and sales over the past few months. Positioned at 14th in March and April 2024, The 4.20Bar climbed to 13th in May but dropped to 15th in June. This indicates a competitive and volatile market environment. Comparatively, Verdelux consistently held the 13th position, except for a brief rise to 12th in May, suggesting a stable performance. Meanwhile, Constellation Cannabis showed an upward trend, moving from 15th to 14th place in June, potentially indicating a growing market presence. Marmas and Mari's remained static at 16th and 17th respectively, showing less competitive pressure. These dynamics suggest that while The 4.20Bar is a strong contender, it faces significant competition from brands like Verdelux and Constellation Cannabis, which could impact its market share and necessitate strategic adjustments to maintain or improve its ranking and sales.
Notable Products
In June 2024, the top-performing product from The 4.20Bar was Minis - CBD/THC 1:1 Dark Chocolate Sea Salt Bar 10-Pack (100mg CBD, 100mg THC), maintaining its number one rank for four consecutive months with sales reaching 2973 units. The second spot was held by Minis - CBD/THC 1:1 Milk Chocolate Bar 10-Pack (100mg CBD, 100mg THC), also consistently ranked second since March 2024, with notable sales of 1836 units. The third position was occupied by Minis - CBG/CBC/CBD/THC 1:1:1:1 Dark Chocolate Sea Salt Bar 10-Pack (100mg CBG, 100mg CBC, 100mg CBD, 100mg THC), which improved from fifth place in March and April to third in May and June. Minis - Milk Chocolate Bites 10-Pack (100mg) held the fourth rank, showing a slight decline in sales over the months. Finally, Minis - CBD/THC 10:1 Milk Chocolate Bar 10-Pack (100mg CBD, 10mg THC) remained steady at fifth place since March 2024.
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