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Mar-2024
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Overview
Market Insights Snapshot
In Arizona, 22Red has shown a notable presence across multiple cannabis product categories, with its performance in the Flower and Pre-Roll categories standing out. The brand maintained a top 15 position in the Flower category over the reported months, even improving its rank from 11th in December 2023 to 10th in March 2024, which indicates a solid market presence and consumer preference. This is further underscored by a significant sales jump in March 2024 to 749,609, the only raw sales detail shared, highlighting a robust recovery and potential growth trajectory. Conversely, the Pre-Roll category saw a slight dip in ranking from 5th to 9th from December 2023 to March 2024, suggesting some challenges amidst competitive pressures or possible shifts in consumer preferences. The Concentrates category also saw fluctuations but remained within the top 25, indicating a stable, if not leading, position within that segment.
Meanwhile, in Nevada, 22Red's performance paints a picture of burgeoning potential amidst tougher competition. Notably, the brand was not ranked within the top 30 for the Concentrates category in December 2023 and March 2024, which could be seen as a significant area for improvement or an indication of the brand's recent entry or repositioning efforts within this market. However, in the Flower and Pre-Roll categories, 22Red showed positive movement, particularly in Pre-Rolls, where it climbed from a rank of 71st in January 2024 to 51st in March 2024. This upward trend, although starting from a lower base, suggests growing consumer acceptance and an improving market position. The Flower category experienced some volatility, with rankings fluctuating from not being in the top 30 to reaching the 69th position by March 2024, indicating a challenging but potentially rewarding market landscape for 22Red in Nevada.
Competitive Landscape
In the competitive landscape of the flower category in Arizona, 22Red has experienced fluctuations in its market position from December 2023 through March 2024, indicating a volatile market presence among its competitors. Initially ranked 11th in December, 22Red climbed to 10th in January, fell to 14th in February, and then slightly recovered to 10th by March. This seesaw in rankings highlights a challenging environment, particularly when compared to Connected Cannabis Co., which consistently held a spot in the top 13, peaking at 10th in February. Similarly, Alien Labs showed resilience by improving its rank from 12th in January to 8th in March, showcasing a stronger upward trend. Grassroots demonstrated a significant leap from not being in the top 20 in January to securing the 7th position in February, indicating a potential disruptor in the market. Meanwhile, Savvy maintained a relatively stable presence but experienced a slight dip to 12th by March. The fluctuating ranks and sales of 22Red and its competitors underscore the dynamic nature of the Arizona flower market, with brands constantly jockeying for consumer attention and market share.
Notable Products
In Mar-2024, 22Red saw BCC x Jealousy (3.5g) from the Flower category claim the top spot in sales rankings, moving up from fifth place in February to first with 6649.0 units sold. Following closely, Hippie Crasher Pre-Roll (1g) and BCC x Jealousy Pre-Roll (1g) from the Pre-Roll category ranked second and third, respectively, indicating a strong preference for Pre-Roll products among consumers. Notably, Z Crasher Pre-Roll (1g) and Z Pie Pre-Roll (1g) also made it to the top five, securing the fourth and fifth positions. This ranking showcases a significant shift in consumer preferences, with Pre-Roll products occupying four out of the top five spots, a change from previous months where the Flower category had a stronger presence. The sales figures and rankings indicate a dynamic and evolving market, with 22Red's Pre-Roll offerings gaining substantial traction among consumers.
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