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Jun-2024
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Overview
Market Insights Snapshot
Good Day Farm has shown a strong presence in the Missouri cannabis market, particularly in the Edible and Pre-Roll categories. Consistently ranking 3rd in Edibles from March to June 2024, the brand has maintained its position despite a slight decline in sales from $1,396,343 in March to $1,328,213 in June. In the Pre-Roll category, Good Day Farm has dominated the top spot, holding the 1st rank for four consecutive months, indicating a strong consumer preference and steady market demand. However, the Flower category experienced some fluctuations, peaking at 3rd place in May before dropping back to 5th in June, which could suggest a competitive landscape or seasonal variations impacting sales.
In the Concentrates category, Good Day Farm made significant strides, breaking into the top 10 in April and climbing to 9th place by June. This upward trend reflects growing consumer interest and possibly effective marketing strategies or product improvements. Conversely, the Vapor Pens category exhibited more stability, with the brand moving from 9th to 8th place between March and June, accompanied by a notable increase in sales, suggesting a strengthening foothold in this segment. The absence of a ranking in Concentrates for March highlights a rapid rise in this category, which can be seen as a positive development for the brand’s diversification efforts within the state.
Competitive Landscape
In the competitive landscape of Missouri's Flower category, Good Day Farm has shown notable fluctuations in rank and sales over recent months. Despite a dip from 3rd to 5th place in June 2024, Good Day Farm experienced a significant sales increase in May 2024, peaking at a higher position compared to competitors. For instance, Amaze Cannabis saw a decline from 4th to 7th place, while Sinse Cannabis maintained a relatively stable position but did not surpass Good Day Farm in rank. Vivid (MO) consistently outperformed Good Day Farm in rank, except for a brief period in May 2024 when Vivid's sales dipped. Meanwhile, Greenlight showed a strong upward trend, climbing from 10th to 4th place by June 2024, potentially posing a future threat to Good Day Farm's market position. These dynamics highlight the competitive pressures and the need for strategic adjustments to maintain and improve Good Day Farm's standing in the Missouri Flower market.
Notable Products
For June 2024, the top-performing product from Good Day Farm is Big AF Strawberry Pineapple Gummy (100mg), maintaining its first-place ranking for four consecutive months with a sales figure of 9916. J's - Oooze Pre-Roll (1g) secured the second position, marking its debut in the rankings. Big AF Cranberry Grape Gummy (100mg) climbed to third place, showing an improvement from its fifth-place ranking in May. Banana Cream Cake x Jealousy Pre-Roll (1g) entered the list in fourth place, while Strawberry Lemonade Gummies 10-Pack (100mg) rounded out the top five. Overall, there has been a notable consistency in the top edible products, with some new entries in the pre-roll category.
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