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Apr-2024
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Overview
Market Insights Snapshot
In the Ohio market, Appalachian Pharm has shown a noteworthy performance across different cannabis categories, with its presence being strongly felt in both the Edible and Flower categories. The brand's Flower category, in particular, has demonstrated impressive resilience and growth, moving from the 11th position in January 2024 to the 8th by April 2024. This upward trajectory in rankings is indicative of a growing consumer preference and an increasing market share within the state. Conversely, the Edible category tells a slightly different story, with the brand struggling to maintain its position within the top 30, experiencing a slight decline from the 22nd position in February to the 29th by April. This fluctuation suggests a more competitive landscape or possibly a shift in consumer preferences within the Edibles market segment in Ohio.
Financially, Appalachian Pharm's journey through the first quarter of 2024 reveals a mixed bag of results. While no specific sales figures are disclosed for each month across the categories, it is noted that in the Edible category, January 2024 sales started at $45,797, showing a gradual decline over the following months. This trend could reflect challenges in maintaining market momentum or adapting to market demands. In stark contrast, the Flower category has not only shown improvement in rankings but also a notable increase in sales, peaking in March 2024. This financial uptick, coupled with its rising position, underscores the brand's strength and consumer loyalty in the Flower segment. Such insights into Appalachian Pharm's performance across categories and over time provide a nuanced understanding of its market dynamics in Ohio, highlighting areas of success as well as opportunities for growth and improvement.
Competitive Landscape
In the competitive landscape of the Ohio cannabis flower market, Appalachian Pharm has shown a notable upward trajectory in its rankings over the first four months of 2024, moving from 11th in January to 8th in both March and April. This improvement in rank is indicative of its growing presence and potentially increasing market share within the state. Competitors such as Rythm and Certified (Certified Cultivators) have experienced fluctuations in their rankings, with Rythm dropping from 6th in March to 10th in April, and Certified moving from 5th to 9th in the same period. Notably, Buckeye Relief has consistently held a top spot, only slipping from 3rd to 7th by April, while King City Gardens made a significant leap from not being in the top 20 in January to 6th by April, showcasing a dramatic increase in sales and market penetration. Appalachian Pharm's steady ascent in rankings amidst these fluctuations highlights its resilience and growing favor among Ohio's cannabis consumers, despite the dynamic shifts seen among its competitors.
Notable Products
In April 2024, Appalachian Pharm saw Runtz Berries Smalls (14.15g) from the Flower category claiming the top spot with an impressive sales figure of 2528 units, marking a significant rise from its third position in March. Following closely, Sugar Cake (2.83g) secured the second rank, a new entrant in the top rankings for the month. The third position was taken by Sugar Cake Smalls (14.15g), which had previously held the top spot in January and March, indicating a slight dip in its sales performance. Ice Cream Cake Smalls (14.15g) moved to the fourth rank, showing a notable improvement from its absence in the top ranks in the previous month. Lastly, Dove Barz Smalls (14.15g) consistently maintained its fifth position, demonstrating steady demand among Appalachian Pharm's offerings.
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