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Jun-2024
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Overview
Market Insights Snapshot
Woodward Fine Cannabis has shown varied performance across different categories and states. In Ohio, the brand's ranking in the Flower category has seen some fluctuation. Starting in March 2024 at rank 14, it dropped to 24 in April but managed to climb back slightly to 20 by June 2024. This indicates a resilient presence in the market despite some challenges. However, in the Vapor Pens category, the brand struggled to maintain a top position, falling out of the top 30 by April 2024 and remaining outside this range through June. This suggests that while they have a stronger foothold in the Flower category, their Vapor Pens may need strategic attention to improve their market position.
These movements in rankings are crucial for understanding the brand's overall market dynamics. The drop in sales from March to June in both categories points to potential market saturation or increased competition. Specifically, Flower sales decreased from $489,948 in March to $285,913 in June. The absence of Woodward Fine Cannabis from the top 30 in the Vapor Pens category for two consecutive months highlights a significant challenge. This data suggests that while the brand holds a competitive edge in certain categories, there is room for growth and improvement, particularly in expanding their Vapor Pen offerings and market strategy.
Competitive Landscape
In the competitive landscape of the Ohio flower category, Woodward Fine Cannabis has experienced notable fluctuations in its ranking and sales performance over recent months. From March to June 2024, Woodward Fine Cannabis saw its rank drop from 14th to 24th, before slightly recovering to 20th place. This volatility contrasts with the more stable performance of competitors such as Galenas, which maintained a relatively consistent rank around 17th before slipping to 22nd in June. Similarly, Pure Ohio Wellness started strong at 11th place in March but also experienced a decline, ending up at 19th in June. Meanwhile, The Standard showed a positive trend, improving its rank from 24th in March to 18th in June. These shifts indicate a competitive and dynamic market where maintaining a stable rank is challenging. For Woodward Fine Cannabis, understanding these trends and the strategies of its competitors could be crucial for regaining and sustaining a higher market position.
Notable Products
In June 2024, the top-performing product from Woodward Fine Cannabis was Blueberry Cheesecake (5.66g), which climbed to the number one spot with notable sales of $892. Animal Face (5.66g), previously holding the top rank for three consecutive months, slipped to second place. Diamonds (5.66g) maintained a steady performance, securing the third rank, up from fourth in May. New entries Banana MAC (5.66g) and Wedding Cake Smalls (5.66g) debuted at fourth and fifth positions respectively. The rankings indicate a dynamic shift in consumer preferences, with Blueberry Cheesecake (5.66g) making a significant comeback from a dip in sales in May.
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