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Apr-2024
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Overview
Market Insights Snapshot
In the competitive landscape of the Oregon cannabis market, Oregon, Peak Extracts has shown notable performance in the Tincture & Sublingual category. Their journey through the first quarter of 2024 reveals a consistent upward movement in rankings, starting from the 13th position in January and improving each month to reach the 9th position by April. This progression is indicative of a growing consumer preference and trust in Peak Extracts' offerings in this category. The sales figures support this narrative, with a significant jump observed from March to April, where sales more than doubled from $18,631 to $33,110. This leap not only highlights Peak Extracts' increasing market share but also underscores the brand's successful strategies in expanding its customer base and enhancing product appeal within the Oregon market.
However, the absence of Peak Extracts from the top 30 brands in other states or categories within the same timeframe suggests a focused or limited market penetration strategy. While the brand's performance in Oregon's Tincture & Sublingual category is commendable, their presence is not noted in other markets or categories, which could be seen as an area for potential growth or an intentional focus on strengthening their position in a specific niche before expanding further. The data presents a picture of a brand that is solidifying its foothold and possibly preparing for broader market strategies. For stakeholders and interested parties, keeping an eye on Peak Extracts' subsequent moves, especially in terms of geographic and product line expansion, could provide valuable insights into the brand's long-term growth trajectory and market dynamics.
Competitive Landscape
In the competitive landscape of the Tincture & Sublingual category in Oregon, Peak Extracts has shown a notable upward trajectory in its rankings over the first four months of 2024, moving from 13th in January to 9th by April. This improvement in rank is particularly impressive when considering the sales volume increase from March to April, suggesting a significant gain in market share within this period. Competing brands such as Siskiyou Sungrown and Bobsled Extracts have experienced fluctuations in their rankings, with Siskiyou Sungrown dropping from 5th to 10th and Bobsled Extracts moving up to 8th place by April. Meanwhile, Dr. Jolly's has seen a steady improvement, climbing to 6th place, and Sun God Medicinals has also made a slight gain, ending up at 11th place. The directional trend for Peak Extracts, alongside its competitors, indicates a dynamic and competitive market environment in Oregon's Tincture & Sublingual category, with Peak Extracts showing promising growth and resilience.
Notable Products
In April 2024, Peak Extracts saw the Jager THC Tincture (1000mg THC, 2oz) as its top-selling product, with remarkable sales of 369 units, maintaining its position from March. Following closely was the Sativa Alpine Kush Tincture (963.18mg THC, 2oz), which also held its rank from the previous month, coming in second. The High CBD Sour Pineapple Tincture (937mg CBD, 2oz) made a notable entry into the rankings, securing the third spot without previous sales data for comparison. The CBD/THC 2:1 Nice Tsunami Tincture (400mg CBD, 200mg THC, 2oz, 60ml) remained steady at fourth place, showing consistent preference among consumers. Lastly, the CBDTHC 1:1 AC/DC Purple Trainwreck Tincture (200mg CBD, 200mg THC, 2oz) rounded out the top five, despite a drop from the top spot in February to fifth in April, indicating a shift in consumer preferences within the tincture category.
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