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Jun-2024
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Overview
Market Insights Snapshot
Flora Farms has shown a steady performance in the Missouri market, particularly in the Concentrates and Flower categories. In the Concentrates category, the brand maintained a consistent ranking of 19th place from March to May 2024, dropping slightly to 20th in June 2024. This indicates a relatively stable market presence despite a minor decline. In the Flower category, Flora Farms experienced more noticeable fluctuations, starting at 6th place in March, dropping to 9th in May, and then recovering slightly to 8th in June. This suggests that while they are a strong competitor in the Flower category, there is some volatility in their market position.
The performance in the Pre-Roll and Vapor Pens categories tells a more varied story. Flora Farms was not in the top 30 for Pre-Rolls in March and April, but saw a significant improvement by June, reaching the 28th spot. This upward trend is notable and could indicate growing consumer interest or successful marketing strategies. In the Vapor Pens category, the brand was also outside the top 30 rankings initially but made a significant leap to 39th place by June. This movement indicates potential growth and increasing market penetration in these categories. However, the brand's absence from the top 30 in earlier months highlights the competitive nature of these segments and the challenges Flora Farms faces in establishing a foothold.
Competitive Landscape
In the competitive landscape of the Missouri flower category, Flora Farms has experienced notable fluctuations in its ranking and sales over the past few months. Flora Farms ranked 6th in March 2024 but saw a decline to 9th place by May 2024 before slightly recovering to 8th in June 2024. This downward trend in rank is paralleled by a decrease in sales, indicating potential challenges in maintaining market share. In contrast, Amaze Cannabis consistently outperformed Flora Farms, maintaining a higher rank and demonstrating resilient sales figures, particularly peaking in June 2024. Sinse Cannabis also showed strong performance, ranking 5th in both April and May 2024, suggesting a stable consumer preference. Meanwhile, Proper Cannabis and Elevate (Elevate Missouri) have shown more stable rankings, with Proper Cannabis consistently hovering around the 8th and 9th positions and Elevate maintaining around the 10th spot. These competitive dynamics highlight the need for Flora Farms to innovate and possibly re-strategize to regain its competitive edge in the Missouri flower market.
Notable Products
In June 2024, the top-performing product from Flora Farms was Bubba Fett (3.5g), ranking first for the fourth consecutive month with sales of $4694. Blue Dream (3.5g) maintained its second position, consistent with the previous months. Ice Cream Runtz (3.5g) rose to third place, showing an improvement from its fifth position in April and fourth in May. White 99 (3.5g), which was unranked in May, took the fourth spot. New to the rankings, Durban Glue (3.5g) entered at fifth place, highlighting its growing popularity.
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