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Jun-2024
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Overview
Market Insights Snapshot
YouMist has demonstrated consistent performance in the Tincture & Sublingual category in Michigan. Over the past four months, the brand has maintained a steady 5th place ranking, indicating a stable presence in the market. This consistency suggests a loyal customer base and effective market strategies. Notably, sales figures have shown slight fluctuations, with a peak in May 2024 at $20,908 before a slight dip to $18,559 in June 2024. This trend could be worth monitoring to understand seasonal demand or potential market saturation.
While YouMist has maintained a strong foothold in Michigan, it is important to note that the brand did not appear in the top 30 rankings for the Tincture & Sublingual category in other states or provinces during the same period. This absence highlights potential areas for growth and expansion. By focusing on replicating their success in Michigan, YouMist could explore opportunities in untapped markets to enhance their brand presence and increase sales. The brand's consistent performance in one state suggests that with the right strategies, similar success could be achieved in other regions.
Competitive Landscape
In the competitive landscape of the Tincture & Sublingual category in Michigan, YouMist has maintained a consistent rank of 5th place from March to June 2024. Despite this stability, YouMist faces stiff competition from brands like Mary's Medicinals and Vlasic Labs. Notably, Mary's Medicinals held a steady 3rd place rank until June when it dropped to 4th, while Vlasic Labs climbed from 4th to 3rd in the same month. This shift indicates a dynamic market where small changes in rank can reflect significant sales movements. For instance, Vlasic Labs saw a notable increase in sales in June, surpassing Mary's Medicinals. Meanwhile, YouMist's sales have shown a slight decline in June compared to the previous months, suggesting a need for strategic adjustments to improve its market position. Understanding these competitive dynamics is crucial for YouMist to identify opportunities for growth and to refine its marketing strategies.
Notable Products
For Jun-2024, Blue Raspberry Mist Breathspray (200mg) retained its top position among YouMist products with sales of 303 units. Energy Mist - CBD/THC 1:1 Cinnamon Breathspray (150mg CBD, 150mg THC) also maintained its second-place standing, selling 286 units. Mellow Mist- CBD/THC 1:1 Citrus Breathspray (150mg CBD, 150mg THC) continued to hold third place, showing a slight increase in sales to 240 units. Sleepy Mist - CBD/THC 1:1 Mint Breath Spray (150mg CBD, 150mg THC) remained in fourth place but saw a significant boost in sales to 234 units. Notably, the rankings of these products have been consistent over the past few months, indicating stable consumer preferences.
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