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Apr-2024
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Overview
Market Insights Snapshot
In the topical category, Wildflower has shown promising performance in both Alberta and Ontario, breaking into the top 10 rankings by April 2024, with ranks of 7th and 8th respectively. This upward movement into the top 10 is a significant indicator of the brand's growing popularity and consumer acceptance in these markets. Notably, the brand was not ranked in the top 30 before March, highlighting a remarkable improvement in its market position within a short span. Although specific sales figures for April are not disclosed, the sales in March for Alberta and Ontario were 13,591 and 11,147 respectively, suggesting a positive trend in consumer demand for Wildflower's topical products.
Conversely, in the Maryland market, Wildflower's performance in the flower category tells a different story. The brand started the year with a rank of 36th in January 2024 but saw a decline, falling out of the top 30 by February, with a further drop in ranking, indicating a decrease in its market presence in this category. This shift could reflect various challenges, including increased competition or changing consumer preferences within the Maryland market. The initial January sales figure of 95,550 suggests that while there was some consumer interest, sustaining and growing that interest has proven to be a challenge for Wildflower in the highly competitive flower category.
Competitive Landscape
In the competitive landscape of the Flower category in Maryland, Wildflower has experienced a notable decline in its ranking, moving from 36th in January 2024 to 44th in February 2024, with no rank in the subsequent months, indicating a significant drop in sales and market presence. This fluctuation in Wildflower's performance is contrasted with movements from its competitors. For instance, Verano showed a resilient presence, ranking 35th in January, disappearing in February, but making a comeback to 36th in March. Similarly, Classix maintained a relatively stable position, albeit with slight fluctuations, indicating a consistent market presence. Notably, The Blues Brothers made a significant jump into the rankings in March and April, showcasing a strong upward trajectory. In House, despite not being ranked in January and April, secured the 35th spot in February, demonstrating the volatile nature of the market. These dynamics highlight the challenges Wildflower faces, with competitors like The Blues Brothers showing rapid growth and others like Verano and Classix demonstrating resilience and consistent market presence.
Notable Products
In April 2024, Wildflower's top-selling product was the CBD Cool Stick (300mg CBD, 2.5oz) within the Topical category, maintaining its number one rank from March with 249 sales. Following closely was the CBD:THC 1:1 Balanced Relief Stick (125mg CBD, 125mg THC 30g), also a Topical, which rose to the second position from its previous rank in March. The Sweet Dreams - CBD:CBN :THC 1:1:2 Goji Berry Chews 5-Pack (5mg CBD, 5mg CBN, 10mg THC) from the Edible category secured the third spot, improving its rank from fourth in March. Another notable product, the Sweet Dreams - :CBD:CBN THC 1:1:2 Cherry Chews 5-Pack (5mg CBD, 5mg CBN,10mg THC), also in the Edible category, climbed to the fourth rank in April from its third position in March. These rankings indicate a stable preference for Topical products at the top, with consistent interest in Edible categories among Wildflower's offerings.
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