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Jun-2024
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Overview
Market Insights Snapshot
Tidal's performance in the Concentrates category has shown notable fluctuations across the months in Nevada. In March 2024, Tidal was ranked 24th, but experienced a slight drop to 25th in April. However, May saw an improvement as Tidal climbed to 21st, only to fall back to 29th in June. These movements indicate a volatile presence in the market, with Tidal managing to stay within the top 30 brands, albeit with varying degrees of success. The sales figures also reflect this instability, peaking in May and then dropping significantly in June.
While Tidal has managed to remain in the top 30 brands in Nevada's Concentrates category, the brand's inconsistent rankings suggest areas for potential improvement. The drop from 21st to 29th between May and June is particularly noteworthy, as it indicates a significant decline in market position. This trend could be a cause for concern if it continues, and it will be important to monitor whether Tidal can stabilize its rankings in the coming months. Overall, while Tidal's presence in Nevada's Concentrates market is established, the brand's performance highlights both opportunities and challenges that lie ahead.
Competitive Landscape
In the Nevada concentrates market, Tidal has experienced notable fluctuations in its rank and sales over recent months. In March 2024, Tidal was ranked 24th, but it dropped to 25th in April before climbing to 21st in May, only to fall again to 29th in June. This volatility contrasts with the more stable performance of competitors such as Roots, which maintained a relatively steady rank, fluctuating between 26th and 31st over the same period. Meanwhile, MPX - Melting Point Extracts showed a significant improvement, rising from 18th in March to 14th in April, although it dropped out of the top 20 by June. Another competitor, NLVO / North Las Vegas Organics, was only ranked in March and June, indicating inconsistent performance. The entry of Vada into the top 30 in June further intensifies the competitive landscape. These dynamics suggest that while Tidal has moments of strong performance, it faces stiff competition and must strategize to stabilize and improve its market position.
Notable Products
In June 2024, the top-performing product from Tidal was the Breakfast Cereal Cured Resin Honeycomb (1g) in the Concentrates category, maintaining its top rank from May 2024 with notable sales of 175 units. The Rainbow Sherbet #11 Live Resin Sugar (0.95g) also performed well, securing the second rank, which is an improvement from its fourth position in May. The CBD All Natural Lip Balm (50mg CBD, 5g) in the Topical category climbed to third place, showing a consistent presence in the rankings. The Orange Creamsicle Lollipop 2-Pack (10mg) made its debut in the rankings at fourth place. Meanwhile, the Otter Popz Live Resin Sugar (0.95g) in the Concentrates category dropped to fifth place from its previous second rank in March.
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