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Jun-2024
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Overview
Market Insights Snapshot
Tipsy Turtle has shown a slightly fluctuating performance in the Arizona edible market. In March 2024, the brand was ranked 34th, but it managed to break into the top 30 in April, securing the 30th spot. However, it fell back to 31st in both May and June. This indicates a bit of volatility in their market presence, although maintaining a position close to the top 30 shows some consistency. The sales figures also reflect this trend, with a peak in March followed by a dip in April and May, and a slight recovery in June. The fact that Tipsy Turtle was able to make it into the top 30 in April is a positive sign, but the subsequent drop suggests there is room for improvement in maintaining higher rankings.
Across other states and categories, Tipsy Turtle's presence is less pronounced, as it did not make it into the top 30 rankings in any other category or state for the months reviewed. This could be seen as a drawback, indicating that their market penetration and brand recognition are currently limited outside of Arizona. Nevertheless, the brand's performance in the Arizona edible market shows potential, and with strategic adjustments, there may be opportunities for growth in other markets. The consistency in their ranking towards the end of the reviewed period suggests a stable customer base, which could be leveraged for future expansions.
Competitive Landscape
In the competitive landscape of the Arizona edible cannabis market, Tipsy Turtle has shown a relatively stable performance over the past few months, maintaining its rank around the 30th position. Notably, Tipsy Turtle's rank improved from 34th in March 2024 to 30th in April 2024, but then slightly declined to 31st in May and June 2024. This fluctuation indicates a competitive but stable positioning. Compared to competitors like iLava, which consistently ranks lower and has seen a downward trend from 26th to 30th, and Chew & Chill (C & C), which has remained in the high 30s, Tipsy Turtle appears to be holding its ground more effectively. Additionally, Jams has shown a significant improvement, moving from 36th to 29th, indicating a potential emerging threat. Meanwhile, Big Bud Farms has had a more volatile performance, fluctuating between 33rd and 37th. These insights suggest that while Tipsy Turtle is maintaining a stable position, it must stay vigilant and innovative to fend off rising competitors like Jams and capitalize on the declining trends of others like iLava.
Notable Products
For June 2024, the top-performing product from Tipsy Turtle is the CBD/THC 1:2 Salted Caramel Brownie 10-Pack (50mg CBD, 100mg THC), maintaining its first-place ranking from previous months with sales of 896 units. The Sand Dollar Caramel Pecan Chocolate (100mg) climbed back to second place with consistent performance, despite a slight dip in sales to 478 units. The Candy Cubes 10-Pack (100mg) held steady at third place, while the Caramel Nips 10-Pack (100mg) dropped to fourth place after previously ranking second in May. The Salted Caramel Brownie 10-Pack (100mg) remained in fifth place for the second consecutive month. Overall, the rankings reflect minor shifts with the top product consistently outperforming others.
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