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Jun-2024
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Overview
Market Insights Snapshot
Wellspring Fields has shown a consistent performance in the Beverage category in Ohio, maintaining a steady rank of 4th place from March to June 2024. This stability is indicative of strong consumer preference and market presence. However, in the Edible category, Wellspring Fields did not make it into the top 30 in June 2024, which suggests a significant drop in market competitiveness or consumer interest in this particular product line. It's worth noting that the brand's sales in the Beverage category have seen fluctuations, with a notable peak in April 2024 at $34,808, followed by a slight decline in subsequent months.
In the Concentrates category, Wellspring Fields has demonstrated remarkable upward mobility in Ohio, jumping from 19th place in March 2024 to 8th place by June 2024. This positive trend highlights the brand's growing strength and consumer acceptance in this segment. Conversely, the Flower category has shown less encouraging results, with Wellspring Fields' rank oscillating and ultimately declining to 44th place in June 2024. This inconsistency in rankings suggests potential challenges in maintaining a stable market share in the Flower category. The overall sales trend in Concentrates, with a significant increase in June 2024, underscores the brand's potential for growth in this segment.
Competitive Landscape
In the Ohio concentrates market, Wellspring Fields has shown significant fluctuations in rank and sales over the past few months, indicating a dynamic competitive landscape. Starting from a rank of 19 in March 2024, Wellspring Fields climbed to 12 in April, dipped slightly to 14 in May, and then surged to 8 in June 2024. This upward trend in June places Wellspring Fields ahead of Avexia, which ranked 10th, and Revel, which ranked 9th. However, it still trails behind top competitors like Vapen, consistently holding the 4th position, and Riviera Creek, which improved from 8th to 5th place over the same period. The sales data reflects these rank changes, with Wellspring Fields experiencing a notable increase in sales from $34,156 in March to $64,850 in June, suggesting effective strategies in capturing market share. As the market evolves, monitoring these trends can provide deeper insights into Wellspring Fields' competitive positioning and growth opportunities.
Notable Products
In June 2024, the top-performing product from Wellspring Fields was Grease Monkey Live Resin (2.52g) in the Concentrates category, achieving the number one rank with $252 in sales. Golden Dreamz Live Resin (0.84g), also in the Concentrates category, secured the second position. Gram Reaper (14.15g) in the Flower category climbed to third place from its previous fifth rank in March 2024. Blueberry Muffin Live Resin (0.84g) ranked fourth, while 2 Fences Smalls (14.15g) in the Flower category dropped to fifth after being third in May 2024. This month showcased a significant rise in Concentrates, with three out of the top five products belonging to this category.
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