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Jun-2024
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Overview
Market Insights Snapshot
Weed Water has shown a dynamic performance across various states and categories, particularly in the Beverage category. In New York, the brand has experienced notable fluctuations in its rankings over the past few months. Starting at the 4th position in March 2024, Weed Water climbed to 3rd place in April and peaked at 2nd place in May, before dropping to 6th place in June. This movement indicates a strong but volatile presence in the New York Beverage market, with a peak sales figure in May 2024. Such fluctuations suggest that while the brand has a strong foothold, it faces stiff competition and varying consumer preferences.
Across other states, Weed Water's performance has been mixed, with some states not listing the brand in the top 30 for certain months, indicating areas of potential improvement or market challenges. For instance, not appearing in the top 30 in any given month could be seen as a significant gap in market penetration or consumer appeal. These gaps highlight opportunities for Weed Water to strategize and enhance its market presence. The brand's ability to maintain and improve its ranking in competitive markets like New York, despite the ups and downs, showcases its resilience and potential for growth.
Competitive Landscape
In the competitive landscape of the beverage category in New York, Weed Water has experienced notable fluctuations in its rank and sales over recent months. Initially, Weed Water held the 4th position in March 2024, climbing to 3rd in April and 2nd in May, indicating a strong upward trend. However, by June 2024, it dropped to the 6th position, suggesting a significant decline in market performance. This drop is particularly concerning when compared to competitors like MyHi, which maintained a steady rise from 5th to 3rd position during the same period, and Harney Brothers Cannabis, which consistently held the 4th position. The decline in Weed Water's rank, despite its earlier gains, highlights the volatility in consumer preferences and the intense competition within the New York beverage market. This dynamic environment underscores the importance of continuous market analysis and strategic adjustments to maintain and improve market position.
Notable Products
In June 2024, the top-performing product for Weed Water was Gelato 41 Water (2mg CBD, 10mg THC), maintaining its number one rank from March and April, with notable sales of 1,567 units. Pineapple Express Water (2mg CBD, 10mg THC) dropped to second place after leading in May. Gelato Water 6-Pack (12mg CBD, 60mg THC) remained consistently in third place, showing stable performance across the months. Pineapple Express Water 6-Pack (12mg CBD, 60mg THC) fell to fourth place, despite having peaked in May. Grapefruit Kush Water (5mg CBD, 5mg THC) held steady in fifth place, though its sales figures were minimal.
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