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Apr-2024
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Overview
Market Insights Snapshot
In the competitive cannabis market of Missouri, Elevate (Elevate Missouri) has demonstrated notable performance across various categories, with its positioning in the rankings reflecting a strong market presence. Particularly in the Pre-Roll category, Elevate has maintained a top 5 position from January to April 2024, showcasing an upward trend in sales and solidifying its place with a consistent third-place ranking from February to April. This consistency in ranking, coupled with a significant increase in sales from January's 672,254 to April's 1,098,551, indicates a growing consumer preference and loyalty towards Elevate's Pre-Roll products. Conversely, the Flower category tells a different story, with Elevate experiencing a gradual decline in rankings from 8th in January to 12th in April, suggesting challenges in maintaining market share amidst competitive pressures.
On the other hand, the Concentrates and Vapor Pens categories present a mixed picture of Elevate's performance. In Concentrates, Elevate's ranking fluctuated slightly but remained within the top 6, indicating a relatively stable demand for their products in this category. April saw a rebound to 4th position, hinting at a possible resurgence in popularity or successful marketing efforts. The Vapor Pens category saw Elevate maintaining a strong presence in the top 10, albeit with slight fluctuations in rankings. The slight drop from 6th in February to 8th in April might reflect the intense competition within this category or shifts in consumer preferences. Despite these challenges, Elevate's continued presence in the top rankings across multiple categories in the Missouri market underscores its resilience and adaptability in navigating the complexities of the cannabis industry.
Competitive Landscape
In the competitive landscape of the Missouri flower cannabis market, Elevate (Elevate Missouri) has experienced a gradual decline in rank from 8th in January 2024 to 12th by April 2024, indicating a shift in consumer preference or increased competition. Notably, Vibe Cannabis (MO) has shown remarkable growth, moving from 14th to 11th place, surpassing Elevate by April with a significant upward trend in sales. Conversely, Greenlight has maintained a steady position, fluctuating around Elevate but ultimately securing the 10th spot by April, slightly ahead of Elevate. Meanwhile, Buoyant Bob and Daybreak Cannabis have shown consistent ranks but with Daybreak Cannabis making a notable jump from 22nd to 14th place, hinting at a growing presence in the market. This dynamic suggests that Elevate (Elevate Missouri) faces significant competition, not only from established brands but also from emerging players making significant strides in the Missouri flower cannabis category.
Notable Products
In April 2024, Elevate (Elevate Missouri) saw Hell's OG (3.5g) reclaim its top position in sales with 5707 units sold, highlighting its consistent popularity among consumers. Following closely was Headband Cookies (3.5g), which maintained its second rank from previous months, demonstrating steady demand. Grease Monkey (3.5g) made a notable comeback to the third spot after not being ranked in the previous month, indicating a resurgence in interest. Mac and Cheese (3.5g) also showed an upward trend, moving up to the fourth position from fifth, reflecting growing consumer preference. Lastly, Grapefruit Durban (3.5g) dropped to fifth, despite its previous higher rankings, suggesting a shift in consumer tastes within Elevate's product lineup.
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