Market Insights Snapshot
In the category of Concentrates in Missouri, COCO Labs has shown an impressive upward trend from July to September 2023. The brand's ranking improved from 12th in July to 5th in September, indicating a significant increase in market presence. However, there was a slight dip in October, with the ranking falling to 10th. Despite this, the overall trend suggests a positive trajectory for COCO Labs in this category, particularly when considering the substantial increase in sales from July to September.
Turning to the Vapor Pens category, COCO Labs demonstrated a commendable performance in Missouri as well. While the brand was not in the top 20 in July and August, it steadily climbed the ranks to secure the 20th position in October. This suggests that COCO Labs is gaining traction in this category, which is further supported by the increasing sales figures over the four-month period. However, the brand still has room for improvement to secure a stronger position within the top 20 brands in the Vapor Pens category.
In the Vapor Pens category in Missouri, COCO Labs has shown a consistent upward trend from July to October 2023, improving its rank from 43rd to 20th. This is a significant leap, outperforming competitors like Proper Cannabis and Bison, which have seen a decline in their rankings over the same period. In contrast, Greenlight has shown a similar upward trajectory as COCO Labs, albeit with a slight dip in October. Interestingly, Pinpoint has also shown a steady improvement in rank, surpassing COCO Labs in October. While COCO Labs' sales have been consistently increasing, it's worth noting that they are still lower than most of its competitors, indicating room for growth and increased market share.
In October 2023, COCO Labs' top-performing product was the 'Jack Herer Live Terps Disposable (0.5g)' from the Vapor Pens category, maintaining its second position from the previous two months and recording sales of 849 units. The 'Northern Lights Live Distillate Disposable (0.5g)', also a Vapor Pen, slipped to second place after leading in August. The 'Sour Diesel Distillate Disposable (0.5g)', yet another Vapor Pen, improved its rank to third from fourth in August. The 'Granddaddy Purple Live Resin Terps Disposable (0.5g)', continued in the Vapor Pens category, dropping one place to fourth from third in September. Finally, the 'Clementine Cured Badder (1g)' from the Concentrates category, despite leading in July, fell to fifth place in October.