.svg){kind=small}
Jun-2024
Sales
Trend
6-Month
Product Count
SKUs
Overview
Market Insights Snapshot
Honeybee has demonstrated a notable performance in the Edible category within Missouri. Over the past few months, the brand has managed to secure a strong position, starting at rank 11 in March 2024 and improving to rank 7 in April 2024. Despite a slight drop to rank 10 in May 2024, Honeybee bounced back to rank 8 in June 2024. This fluctuation indicates a resilient presence in the market, suggesting that while there are competitive pressures, Honeybee remains a preferred choice among consumers.
However, the sales figures reveal some underlying trends that are worth noting. For instance, while there was a significant increase in sales from March to April, the subsequent months saw a decline. Specifically, sales peaked at $766,773 in April 2024 but then dropped to $572,333 by June 2024. This downward trend may point to seasonal variations or shifts in consumer preferences. Additionally, the absence of Honeybee in the top 30 rankings for any other states or provinces suggests that their market penetration is currently limited to Missouri, highlighting both an area of strength and a potential opportunity for expansion.
Competitive Landscape
In the competitive landscape of the Missouri edible cannabis market, Honeybee has shown notable fluctuations in its rank and sales over the past few months. Starting from an 11th place rank in March 2024, Honeybee surged to 7th in April, only to dip to 10th in May before climbing back to 8th in June. This volatility contrasts with the more stable performance of competitors like Panda (MO), which consistently held the 6th position throughout the same period. Despite the ups and downs, Honeybee's April sales were significantly higher than those of Zen Cannabis and Illicit / Illicit Gardens, indicating a potential for strong market presence when conditions are favorable. However, the consistent top-tier performance of Kosmik Brands and Panda (MO) suggests that Honeybee needs to stabilize its ranking to secure a more dominant position in the Missouri edibles market.
Notable Products
In June 2024, the top-performing product for Honeybee was Blood Orange Strawberry Gumdrops 20-Pack (100mg), maintaining its first-place ranking with sales of $2199. CBD/THC 1:1 Sour Watermelon Passionfruit Gumdrops 20-Pack (100mg CBD, 100mg THC) held steady in second place, while Blood Orange Strawberry High Potency Gumdrops 20-Pack (300mg) remained third. Black Cherry Cola Gumdrops 20-Pack (100mg) continued to rank fourth, despite a slight dip in sales. Notably, the new entry, CBD/THC 1:1 Sour Watermelon Passionfruit High Potency Gumdrops 20-Pack (300mg THC, 300mg CBD), debuted in fifth place with promising sales figures.
Top Selling Cannabis Brands
