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Apr-2024
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Overview
Market Insights Snapshot
Lighthouse Sciences has shown a varied performance across different cannabis product categories in Ohio, indicating a diverse market presence but with fluctuating standings. In the Concentrates category, the brand maintained a top 10 position in January and February 2024 but saw a significant drop to 17th place by March, with no ranking information available for April, suggesting a potential decline in market share or competitiveness in this segment. This is contrasted sharply by their performance in the Topical category, where Lighthouse Sciences not only started strong at 2nd place in January but climbed to 1st by February and March, despite a slight dip to 4th place in April. This demonstrates a strong foothold in the Topical category within the state, highlighted by consistent sales figures that peaked in February 2024 at $39,218.
In contrast, the Vapor Pens category tells a story of struggle and potential growth opportunities for Lighthouse Sciences. The brand's rankings were outside the top 30 in the early months of 2024, beginning at 48th in January and making a slight improvement to 47th by April. Despite these lower rankings, sales figures showed an upward trend from January to March, indicating growing consumer interest or increased distribution efforts that have yet to translate into top-tier category performance. This category represents a challenging area for Lighthouse Sciences in Ohio, where significant improvements in market penetration and brand visibility could potentially yield better standings in future months. The detailed movements across these categories underscore the importance of strategic focus and market adaptation for Lighthouse Sciences in navigating the competitive landscape of Ohio's cannabis market.
Competitive Landscape
In the competitive landscape of the topical cannabis market in Ohio, Lighthouse Sciences has shown a notable fluctuation in its performance over the first four months of 2024. Initially ranked second in January, Lighthouse Sciences surged to the top position by February, maintaining its lead through March before experiencing a decline to fourth place in April. This shift in ranking is particularly significant when compared to its competitors, such as Doctor Solomon's, which consistently held top positions but never surpassed Lighthouse Sciences in sales until April. Similarly, Avexia remained a strong contender, gradually improving its rank and closing in on Lighthouse Sciences' sales figures by April. On the other hand, brands like Beneleaves and Tinctible showed steady improvements in both rank and sales, yet they did not pose an immediate threat to Lighthouse Sciences' top position. The directional trend suggests that while Lighthouse Sciences experienced a significant drop in rank and sales by April, the competitive dynamics within the Ohio topical cannabis market are fluid, with several brands vying closely for consumer attention and market share.
Notable Products
In April 2024, Lighthouse Sciences saw its CBD/THC 6:1 MJ Muscles & Joint Balm (3000mg CBD, 500mg THC, 2oz) from the Topical category maintain its top position with 476 sales, continuing its streak as the best-selling product for the fourth consecutive month. The Millie Grace Live Diamond Disposable (0.5g) in the Vapor Pens category secured the second rank, showing stability in its position from the previous month. Climbing up to the third rank was the CBD/THC 6:1 MJ Muscles & Joint Balm (1500mg CBD, 250mg THC, 1oz), also in the Topical category, marking a notable improvement from its fifth position in February 2024. The LH x Farkas - Slime God Live Resin Cryo Caviar (0.84g) from the Concentrates category made it to the fourth rank, witnessing a slight shift from its previous positions in the third and fifth ranks in February and March respectively. Lastly, the CBD/THC 1:1 Migraine Assist Topical Spray (298mg CBD, 298mg THC) entered the top five for the first time in April, indicating a growing interest in diverse therapeutic options.
Top Selling Cannabis Brands
