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Jun-2024
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Overview
Market Insights Snapshot
Elevate (Elevate Missouri) has demonstrated a strong performance across multiple categories in the state of Missouri. Notably, the brand has maintained a consistent top-tier ranking in the Concentrates category, securing the number one position in both April and May 2024 before slightly dropping to fourth place in June 2024. This indicates a robust presence in the Concentrates market, despite the slight decline in June. The Flower category has also shown stable performance, with Elevate consistently ranking within the top 12, peaking at 10th place in both May and June 2024. This stability suggests a reliable consumer base and a steady demand for their flower products.
In the Pre-Roll category, Elevate (Elevate Missouri) has maintained a strong foothold, consistently ranking within the top three from March to June 2024. This consistent high ranking highlights the brand's strength and popularity in the Pre-Roll segment. However, the Vapor Pens category presents a mixed picture; while the brand was ranked fifth in March 2024, it dropped to tenth place from April to June 2024. This downward trend could be a point of concern for the brand's market strategy in Vapor Pens. Overall, Elevate (Elevate Missouri) has shown commendable performance across multiple categories, with particular strengths in Concentrates and Pre-Rolls, though there are areas that may require strategic adjustments.
Competitive Landscape
In the competitive landscape of the Flower category in Missouri, Elevate (Elevate Missouri) has shown a stable yet competitive performance. Over the past four months, Elevate has maintained a rank within the top 12, peaking at 10th place in both May and June 2024. This stability is notable, especially when compared to competitors like Proper Cannabis and Flora Farms, which have fluctuated more significantly in their rankings. For instance, Flora Farms dropped from 6th place in March to 9th in May before climbing back to 8th in June, while Proper Cannabis has consistently stayed within the 8th to 9th range. Despite these fluctuations, Elevate's sales figures have remained relatively strong, with a slight dip in April but a recovery in subsequent months. This consistent performance in both rank and sales suggests that Elevate is maintaining a solid market presence, even as other brands experience more volatility. Understanding these dynamics can provide deeper insights into market trends and help in strategizing for future growth.
Notable Products
In June 2024, the top-performing product for Elevate (Missouri) was Headband Cookies (3.5g) in the Flower category, maintaining its rank from the previous month and achieving impressive sales of $8,063. Mimosa (3.5g) debuted strongly at the second rank. Hell's OG (3.5g) dropped to the third position after holding the top spot in April and the second spot in May. Grease Monkey (3.5g) saw a slight decline, moving from third to fourth place. Mac and Cheese (3.5g) consistently ranked fifth over the past two months, indicating stable yet modest performance.
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