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Apr-2024
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Overview
Market Insights Snapshot
In the dynamic landscape of cannabis products, Select has shown a noteworthy performance across several states, particularly in the Vapor Pens category. In Arizona, Select maintained top positions, oscillating between ranks 1 and 2 from January to April 2024, showcasing strong market presence and consumer preference. This is mirrored in Maryland, where Select led the Vapor Pens category for the first three months before slipping to the second position in April, indicating a slight shift in consumer choice or increased competition. The brand's performance in Nevada and Ohio remained consistently strong, holding steady in the top three ranks, which speaks to Select's solid market penetration and brand loyalty in these regions. However, a concerning trend is observed in Missouri, where Select's ranking in the Vapor Pens category significantly declined from 14th to 25th place from January to April, highlighting potential challenges in maintaining its market share.
On the other hand, Select's foray into the Edibles market presents a mixed bag of results. In Massachusetts, the brand held a steady middle-tier ranking within the edibles category, fluctuating slightly but showing resilience in a competitive segment. This performance contrasts with its vapor pens category in the same state, where it enjoyed a stronger position, suggesting varying consumer preferences across product types. In Maryland, the brand made an appearance in the Edibles category in January but did not maintain its presence in the following months, which could indicate strategic refocusing or challenges in sustaining its edibles line in this market. The absence of Select in the top 30 brands for edibles after January in Maryland could reflect either a strategic withdrawal or an area for growth, depending on the brand's market strategy. This variation in performance across categories and states underscores the importance of market-specific strategies and the diverse consumer preferences that Select navigates in its operations.
Competitive Landscape
In the competitive landscape of vapor pens in Arizona, Select has demonstrated notable performance dynamics, oscillating between the top ranks over the recent months. Initially positioned as the second-best selling brand in January 2024, Select ascended to the lead in February and March, showcasing a significant increase in sales before slightly dropping to the second position in April, closely trailing behind STIIIZY, which reclaimed the top spot. This fluctuation in rank and sales underscores the intense competition between Select and its closest competitors, particularly STIIIZY and Mfused, the latter maintaining a consistent presence in the top three. Another notable competitor, Abstrakt, though ranking lower, has shown a steady increase in sales, indicating a growing presence in the market. These dynamics highlight the volatile nature of consumer preferences in Arizona's vapor pen category, with Select's shifts in rank and sales reflecting the brand's resilience and adaptability in a highly competitive environment.
Notable Products
In April 2024, Select's top-performing product was Snooze Bites - THC/CBN 1:1 Indica Blackberry Gummies 20-Pack (100mg THC, 100mg CBN) within the Edible category, maintaining its previous month's position with remarkable sales of 8363.0 units. Following closely, X Bites - Rainbow Upload Gummies 10-Pack (100mg) also in the Edible category, secured the second rank, showing a slight improvement in its position from the previous month. The third spot was taken by Essentials - Clementine Distillate Cartridge (1g) from the Vapor Pens category, marking its rise in popularity with a notable shift from second place in March to third in April. Interestingly, Essentials - Berry Gelato Distillate Cartridge (1g), another product from the Vapor Pens category, entered the rankings directly in the fourth position, indicating a growing interest in vapor pen products. The list was rounded off with X-Bites - Orange Matter Gummies 10-Pack (100mg), which saw a slight dip to the fifth position from third in March, reflecting the competitive nature of the Edible category.
Top Selling Cannabis Brands
