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Jun-2024
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Overview
Market Insights Snapshot
COCO Labs has shown notable performance across various categories in Missouri, with significant movements in the Concentrates and Vapor Pens segments. In the Concentrates category, COCO Labs experienced fluctuations, starting at rank 10 in March 2024 and dropping to rank 16 by May 2024, before recovering to rank 12 in June 2024. This suggests a dynamic market presence and a possible rebound in consumer demand. In contrast, the Vapor Pens category showed a more stable trajectory, with COCO Labs ranking between 28 and 35 over the same period, indicating consistent performance despite a slight dip in May. The variance in rankings across these categories highlights the brand's adaptive strategies and market engagement.
In the Pre-Roll category, COCO Labs did not make it into the top 30 brands in Missouri for May and June 2024, which could indicate a challenging competitive landscape or shifting consumer preferences within this segment. Despite this, the brand's overall sales performance in Missouri's Vapor Pens category saw a positive trend, with sales increasing from $216,529 in March to $242,727 in June 2024. This upward movement in sales, coupled with the brand's ability to bounce back in the Concentrates category, underscores COCO Labs' resilience and potential for growth in key product segments within the Missouri market.
Competitive Landscape
In the Missouri Vapor Pens category, COCO Labs has shown a dynamic performance over the past few months, indicating a competitive but fluctuating market position. In March 2024, COCO Labs was ranked 33rd, but improved to 28th in April, showcasing a positive trend. However, the brand experienced a dip to 35th in May before climbing back to 30th in June. This volatility suggests that while COCO Labs is capable of gaining ground, it faces stiff competition from brands like Dixie Elixirs and Farmer G, which have maintained relatively higher and more stable ranks. Notably, Farmer G consistently outperformed COCO Labs, peaking at 26th in March and ending at 28th in June, while Dixie Elixirs remained in the top 30 throughout the period. Additionally, Plume Cannabis (MO) showed a strong upward trend, moving from 37th in March to 28th in May, before slightly dropping to 31st in June. These insights highlight the competitive landscape COCO Labs operates within and underscore the importance of strategic marketing and product differentiation to improve and stabilize its market position.
Notable Products
In June 2024, the top-performing product for COCO Labs was the Sour Diesel Distillate Cartridge (1g) in the Vapor Pens category, maintaining its rank at 1st place with notable sales of 914 units. The GMO Cookies Live Resin Dablicator (1g), under Concentrates, emerged at 2nd place, marking its first appearance in the rankings. The Northern Lights Distillate Cartridge (1g), also in Vapor Pens, secured the 3rd position. The Sour Diesel Distillate Disposable (0.5g) dropped to 4th place from its previous 3rd position in May 2024. Lastly, the Hawaiian Haze Distillate Disposable (0.5g) ranked 5th, showing an improvement from 4th place in May 2024.
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