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Apr-2024
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Overview
Market Insights Snapshot
In Missouri, Local Cannabis Co. shows a notable presence across multiple cannabis product categories, indicating a diversified product portfolio. The brand's performance in the Flower category is particularly strong, maintaining a top 15 position from January to April 2024, with rankings improving from 9th in January to 9th again in April after a slight dip in February and March. This suggests a consistent demand for their Flower products, alongside a resilient market position amidst competitive dynamics. In the Pre-Roll category, Local Cannabis Co. also demonstrates a robust market performance, with rankings ranging from 10th to 14th over the four months. This consistency, coupled with an upward trend in March and April, reflects positively on their market strategy and consumer acceptance. However, it's in the Vapor Pens category that the brand faces challenges, hovering around the 33rd to 36th positions, which indicates struggles in capturing a significant market share within this segment.
On the other hand, in Arizona, the brand's presence is less pronounced, with Local Cannabis Co. not making it into the top 30 for the Flower category after January 2024, where it was ranked 39th. This drop-off from the ranking indicates a potential issue with either supply, demand, or competitive positioning in the Arizona market. Given the brand's stronger performance in Missouri across multiple categories, the focus in Arizona might need reassessment or a strategic pivot to enhance market penetration and consumer engagement. It's also worth noting that the sales data for January 2024 in Arizona, while not indicative of top-tier performance, suggests that there is a base from which the brand could potentially build. With no data available for subsequent months, the trajectory in Arizona remains unclear, highlighting an area for potential growth or strategic realignment for Local Cannabis Co.
Competitive Landscape
In the competitive landscape of the Missouri flower cannabis market, Local Cannabis Co. has experienced fluctuations in its ranking, moving from 9th in January 2024, down to 12th in February and March, before climbing back to 9th in April. This seesaw in rankings is indicative of the fierce competition and dynamic market conditions. Notably, Good Day Farm has consistently outperformed Local Cannabis Co., holding a higher rank and achieving greater sales throughout the observed period, despite experiencing a slight decline in rank from 3rd to 7th. Similarly, Proper Cannabis and Greenlight have shown strong performance, with Proper Cannabis overtaking Local Cannabis Co. in February and maintaining a lead in the subsequent months. Vibe Cannabis (MO) displayed a notable surge in March, jumping ahead of Local Cannabis Co., but fell back below in April. These movements highlight the volatile nature of the Missouri flower cannabis market, where brand rankings and sales can shift significantly within a short timeframe, directly impacting Local Cannabis Co.'s market position and sales performance.
Notable Products
In April 2024, Local Cannabis Co. saw Orange 43 (3.5g) from the Flower category as its top-selling product, with impressive sales reaching 8278 units, maintaining its number one position consistently from January. Following in second place was Sherbhead Pre-Roll (1g) from the Pre-Roll category, marking a significant jump in its ranking to the second position without previous ranks in February and March. Sherbhead (3.5g), another Flower category product, held steady in its performance, securing the third spot again, demonstrating consistent consumer preference. The Funky Charms Pre-Roll 2-Pack (1g) made a notable entry into the rankings in April, landing directly in the fourth position, indicating a strong debut. Lastly, Ice Cream Cake (3.5g) from the Flower category, despite a slight decline, managed to stay within the top five, highlighting a diversified consumer interest across Local Cannabis Co.'s product range.
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