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Apr-2024
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Overview
Market Insights Snapshot
In the Ohio market, Beneleaves has shown a remarkable performance in the Capsules category, consistently holding the number 1 rank from January to April 2024. This indicates a strong foothold and consumer preference in this segment, despite a slight decline in sales from January's high of $190,692 to $116,510 in April. However, the brand struggles significantly in the Edibles and Vapor Pens categories, where it failed to break into the top 30 in any of the observed months, peaking at ranks 34 and 38 respectively. This variance in performance across categories suggests a focused consumer base in Capsules, while indicating room for growth or reevaluation of strategies in others, especially considering the downward trend in sales figures in these less favorable categories.
Conversely, Beneleaves has demonstrated a positive trajectory in the Topicals category, improving its rank slightly from 6th to 5th place from January to April 2024. Sales in this category have also seen a consistent uptick, moving from $15,757 in January to $20,382 in April, showcasing a growing consumer interest or increased market penetration by Beneleaves in this segment. This upward trend in both rank and sales for Topicals contrasts with the brand's performance in Vapor Pens and Edibles, suggesting that while Beneleaves has established a dominant presence in certain categories like Capsules and Topicals within the Ohio market, there are significant opportunities for improvement and expansion in others. The data points to a brand that, while successful in specific niches, faces challenges in diversifying its appeal across the broader cannabis product spectrum.
Competitive Landscape
In the competitive landscape of the cannabis capsules category in Ohio, Beneleaves has maintained a leading position from January to April 2024, consistently ranking 1st among its competitors. This dominance is highlighted by its significant sales volume, which, despite a downward trend, remains substantially higher than its closest competitors, Main Street Health and UB GOOD. Main Street Health, holding the 2nd rank throughout the same period, saw a fluctuation in sales but could not surpass Beneleaves, indicating Beneleaves' strong market hold. UB GOOD, consistently in 4th place, also showed an inability to challenge Beneleaves, further underscoring Beneleaves' dominance. The data suggests that while Beneleaves experienced a decrease in sales over the observed months, its position relative to competitors remained unaffected, showcasing its resilience and strong consumer preference within the Ohio market.
Notable Products
In April 2024, Beneleaves saw the Entourage Effect Capsules 22-Pack leading the sales chart for the fourth consecutive month, with a total of 1027 units sold. Following closely, Helios Capsules 11-Pack maintained its second position, demonstrating consistent consumer preference within the capsules category. The Hypnos Capsules 11-Pack, despite fluctuating in the rankings over the previous months, secured the third spot, showcasing a recovery in its market position. RSO Capsules 11-Pack also showed stability by holding onto the fourth rank, indicating a steady demand among Beneleaves' capsule offerings. Notably, the CBN/THC 1:1 Hypnos + CBN Capsules 22-Pack made its first appearance in the rankings in April, directly entering at the fifth position, which highlights a growing interest in diverse cannabinoid formulations.
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