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Apr-2024
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Overview
Market Insights Snapshot
In the competitive cannabis market of New York, Bison Botanics has shown a varied performance across different product categories. In the Edibles category, the brand maintained a presence in the top 30 from January to March 2024, peaking at rank 25 in February before experiencing a slight decline to rank 27 in March and then dropping out of the top 30 to rank 34 in April. This fluctuation indicates a strong initial quarter but suggests the brand faced challenges maintaining its position in the highly competitive edibles market, possibly due to emerging competitors or changes in consumer preferences. Despite this, their sales in January started at 16,997 units, showing a significant increase in February to 25,514 units, which points to a successful marketing or sales strategy that temporarily boosted their market position.
On the other hand, Bison Botanics struggled more significantly in the Flower and Vapor Pens categories. Within the Flower category, the brand was not able to break into the top 50, starting at rank 54 in January and slightly improving in February to rank 48, only to fall back down to rank 65 by April 2024. This decline is particularly noteworthy as it indicates a decreasing market share in one of the most traditional and competitive cannabis product categories. Similarly, in the Vapor Pens category, Bison Botanics saw a downward trend from rank 39 in January to rank 49 by April, never breaking into the top 30. This consistent decline across both categories could suggest operational or distribution challenges, or perhaps a need to revisit product quality or marketing strategies to better meet consumer demands and preferences in the New York market.
Competitive Landscape
In the competitive landscape of the Flower category within the New York market, Bison Botanics has shown a fluctuating performance over the first four months of 2024. Initially ranked at 54th in January, it saw an improvement to 48th in February, before sliding down to 63rd in March and slightly recovering to 65th in April. This trajectory indicates a volatile position in the market, with sales peaking in February at a significant increase from January, then experiencing a decline through March and April, albeit maintaining higher sales figures than in its starting month. Competing brands such as FLWR CITY and Harvest (NY) have shown more stability and/or growth in rank and sales during the same period, with FLWR CITY notably outperforming Bison Botanics in both rank and sales by April. The entry and performance of these competitors, alongside others like Toast and Cheech & Chong's, which entered the rankings in April with substantial sales, underscore the competitive pressures and the dynamic nature of the New York Flower market, affecting Bison Botanics' rank and sales trajectory.
Notable Products
In April 2024, Bison Botanics saw Indica Strawberry Shortcake Gummies 10-Pack (100mg) leading their sales with 251 units, marking its position as the top product of the month in the Edible category. Following closely, Hybrid Raspberry Kush Gummies 10-Pack (100mg) secured the second spot, indicating a strong preference for gummy edibles among consumers. The Sativa Clementine Gummies 10-Pack (100mg) came in third, showcasing a slight shift in consumer preference within the Edible category. Notably, Starlink (3.5g) made its first appearance in the rankings in April, directly claiming the fourth position, a significant achievement for a new product. The rankings reflect a dynamic shift in consumer preferences, with TK Bubba (3.5g) moving down to the fifth position after previously ranking higher in the Flower category.
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