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Jun-2024
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Overview
Market Insights Snapshot
Tsunami Labs has shown mixed performance across different categories and states over recent months. In Missouri, the brand has not broken into the top 30 for edibles, consistently ranking at 45th place from March to June 2024. This stagnant position suggests that Tsunami Labs faces significant competition in the edibles market in Missouri, and their sales figures reflect this challenge, with a slight fluctuation but no major breakthrough in rankings. The lack of upward movement in this category could be a point of concern for the brand's strategy in Missouri.
In contrast, Tsunami Labs has performed notably better in Nevada, particularly in the concentrates category, where it has maintained a strong presence within the top 15, ranking 10th in both April and June 2024. This consistency indicates a solid foothold in the concentrates market. However, the brand's performance in other categories like flower and pre-rolls has been less impressive, with flower rankings hovering around the 60s and pre-rolls not making it to the top 30 after March 2024. This disparity highlights areas where Tsunami Labs could focus on improving their market penetration and competitiveness.
Competitive Landscape
In the Nevada flower category, Tsunami Labs has shown a consistent performance, maintaining its rank at 59th place from May to June 2024. This stability is notable, especially when compared to competitors such as EvoLab, which saw a significant jump from 93rd to 61st place in the same period, indicating a potential threat if their upward trend continues. Meanwhile, Matrix NV experienced fluctuations, peaking at 36th place in May before dropping to 55th in June, suggesting volatility that could either pose a risk or an opportunity for Tsunami Labs depending on future trends. Vegas Valley Growers North maintained a relatively stable position, similar to Tsunami Labs, but with slightly higher rankings, indicating a close competition. Lastly, Curaleaf showed a downward trend, falling from 27th in March to 60th in June, which might provide Tsunami Labs with an opportunity to capture some of Curaleaf's market share if the trend continues. Overall, while Tsunami Labs has maintained a stable rank, the dynamic movements of its competitors highlight the importance of strategic positioning and market responsiveness.
Notable Products
In June 2024, Guava Gelato (3.5g) from Tsunami Labs emerged as the top-performing product, rising from fifth place in May 2024 to first place with impressive sales of $893. Lemon Garlic Kush Live Resin (0.5g) maintained a strong presence, ranking second, though it dropped from the top spot in May 2024. Silver Hawk Haze (3.5g) entered the rankings for the first time, securing the third position. Garlic Butter Live Resin Sugar (0.5g) fell from second place in May 2024 to fourth place. Runtz (3.5g) rounded out the top five, maintaining its fifth-place ranking from the previous month.
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