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Aug-2024
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Overview
Market Insights Snapshot
Local Cannabis Co. has shown varied performance across different categories and states, with significant fluctuations in their rankings. In Missouri, the brand's Flower category experienced a slight decline, moving from 12th place in May 2024 to 14th place in August 2024. This drop is concerning, especially given the notable decrease in sales from $1,522,629 in May to $993,183 in August. However, the Pre-Roll category showed a more positive trend, with the brand improving its rank from 15th in June to 13th in August, indicating a stable and growing demand in this segment.
On the other hand, the Vapor Pens category presents a more challenging scenario for Local Cannabis Co. in Missouri. The brand was unable to maintain its position within the top 30 after May, dropping to 36th in June and further down to 44th in August. This is a significant concern, as it suggests a declining market presence in a highly competitive category. The sales figures for Vapor Pens also reflect this downward trend, with a continuous decrease from $260,083 in May to $87,398 in August. This indicates that the brand needs to reevaluate its strategy to regain its market share in this category.
Competitive Landscape
In the competitive landscape of the Missouri flower category, Local Cannabis Co. has experienced some fluctuations in its rank and sales over the past few months. Notably, Local Cannabis Co. saw its rank drop from 12th in May 2024 to 14th in June 2024, and although it briefly improved to 13th in July 2024, it fell back to 14th in August 2024. This indicates a competitive pressure from other brands such as Flora Farms, which maintained a strong position in the top 4 throughout the same period, and Daybreak Cannabis, which consistently ranked higher than Local Cannabis Co. from June to August. Additionally, Robust and Nuthera Labs have shown upward mobility, with Nuthera Labs moving from outside the top 20 in May to 16th by August. These dynamics suggest that Local Cannabis Co. needs to strategize effectively to regain and improve its market position amidst strong competition.
Notable Products
In August 2024, the top-performing product for Local Cannabis Co. was Heat Locker Pre-Roll (1g) with notable sales of 4773 units. Purple 43 Pre-Roll (1g) secured the second position, while Ricky Bobby Pre-Roll (1g) maintained its third rank from July 2024. RS-11 Pre-Roll (1g) came in fourth, showing a strong entry into the top ranks. Sherbhead Pre-Roll (1g), which had previously held the top and second positions in earlier months, dropped to fifth place in August 2024. This shift highlights a significant change in consumer preferences within the Pre-Roll category.
Top Selling Cannabis Brands
Data for this report comes from real-time sales reporting by participating cannabis retailers via their point-of-sale systems, which are linked up with Headset’s business intelligence software. Headset’s data is very reliable, as it comes digitally direct from our partner retailers. However, the potential does exist for misreporting in the instance of duplicates, incorrectly classified products, inaccurate entry of products into point-of-sale systems, or even simple human error at the point of purchase. Thus, there is a slight margin of error to consider. Brands listed on this page are ranked in the top twenty within the market and product category by total retail sales volume.
