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Mar-2024
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Overview
Market Insights Snapshot
Wyld has demonstrated a strong and consistent performance across various states and provinces, particularly in the edibles category. Notably, in Arizona, Wyld has maintained the top position in the edibles category from December 2023 to March 2024, showcasing its dominance in this market. Similarly, in Colorado, Michigan, Nevada, Oregon, and Washington, Wyld has secured the number one rank in the edibles category consistently over the same period. This indicates a strong consumer preference for Wyld's edible products in these regions. However, in Maryland, there was a significant improvement in the edibles category, moving from rank 32 in December 2023 to rank 9 by March 2024, suggesting a rapid gain in market share and consumer acceptance.
On the other hand, Wyld's performance in the beverages category presents a more mixed picture. In Arizona and Nevada, the brand has seen fluctuations within the mid-tier rankings for beverages, indicating a competitive challenge in these markets. Notably, in Washington, Wyld's beverage category showed a lack of presence in the rankings for two months, only to reappear at rank 31 in March 2024, which could point towards either distribution challenges or varying consumer preferences. Despite these challenges, the brand's strong performance in the edibles category across several key markets suggests a solid foundation, with opportunities for growth and improvement in the beverages sector.
Competitive Landscape
In the competitive landscape of the edible category within the California market, Wyld has maintained a strong presence, consistently ranking among the top 2 brands from December 2023 to March 2024. Despite a brief ascension to the top rank in January 2024, Wyld faced stiff competition from Kiva, which reclaimed its leading position in February and March. Kiva's sales in March 2024 were notably higher than Wyld's, underscoring the intense rivalry between the two. Meanwhile, Kanha / Sunderstorm secured the third rank consistently across these months, with a significant gap in sales compared to the top two brands, yet it remained a notable competitor. Froot showed upward mobility, moving from the fifth to the fourth rank by March 2024, indicating a potential challenge to the leading brands in the future. This competitive dynamic highlights the importance of innovation and marketing strategies for Wyld to maintain or improve its market position amidst fluctuating ranks and sales trends.
Notable Products
In Mar-2024, Wyld's top-performing product was the THC/CBN 2:1 Indica Elderberry Gummies 10-Pack (100mg THC, 50mg CBN) within the Edible category, maintaining its number one rank from previous months with sales figures reaching 315,225. Following closely, the Sativa Raspberry Gummies 10-Pack (100mg) secured the second position, showcasing a consistent performance by moving up from the third position in Jan-2024. The CBD/THC/CBN 1:1:1 Boysenberry Gummies 10-Pack (100mg CBD, 100mg THC, 100mg CBN) experienced a notable rise, moving from fifth to third rank since Jan-2024, indicating a growing consumer interest. The Indica Marionberry Gummies 10-Pack (100mg) slipped from second to fourth place, suggesting a slight shift in consumer preferences. Lastly, the CBG/THC 1:1 Hybrid Pear Enhanced Gummies 10-Pack (100mg CBG, 100mg THC) re-entered the top five, underscoring the dynamic nature of product popularity within the Edible category.
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