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Jun-2024
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Overview
Market Insights Snapshot
Vera has demonstrated notable fluctuations in its performance across categories and states over recent months. In the Flower category in Colorado, Vera's ranking has seen significant movement, starting at 18th in March 2024, dropping to 21st in April, rising again to 17th in May, and then falling to 24th in June. This volatility indicates a competitive market where Vera's position is not yet stable. Despite these changes, a positive trend can be observed in May 2024, where sales peaked at $464,428, suggesting potential for growth if the brand can capitalize on this momentum.
In the Pre-Roll category in Colorado, Vera's performance has been less consistent. The brand started at 16th place in March 2024 but dropped out of the top 30 in April, May, and June, indicating a significant decline in market presence. This downturn is reflected in the sales figures, which saw a sharp decrease from $144,780 in March to $52,453 in April, with only minor fluctuations in the following months. This decline suggests that Vera may need to reassess its strategy in the Pre-Roll category to regain its market position and drive sales growth.
Competitive Landscape
In the competitive landscape of the Flower category in Colorado, Vera has shown notable fluctuations in its rank and sales over the past few months. Vera's rank shifted from 18th in March 2024 to 24th in June 2024, indicating a decline in its market position. This change is significant when compared to competitors like Freedom Road, which improved from 33rd to 23rd, and Hummingbird, which climbed from 41st to 22nd in the same period. Despite these rank changes, Vera's sales saw a peak in May 2024, reaching higher figures than Bloom County and Rocky Mountain High during that month. However, the subsequent decline in both rank and sales by June 2024 suggests that Vera may need to reassess its market strategies to maintain competitiveness and regain its earlier momentum.
Notable Products
In June 2024, Vera's top-performing product was the Hybrid Pre-Roll (1g) in the Pre-Roll category, ranking first with sales of 2937 units. The Canyon Companion (Bulk) in the Flower category secured the second position. Wine & Roses Smalls (Bulk), also in the Flower category, followed closely in third place. The Limoncello Pre-Roll (1g) and Jungle Sunset (Bulk) ranked fourth and fifth, respectively. Notably, the Hybrid Pre-Roll (1g) climbed from third place in May to first in June, indicating a significant increase in its popularity.
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