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Jun-2024
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Overview
Market Insights Snapshot
Local Cannabis Co. has shown a mixed performance across different categories and states, with notable movements in Missouri. In the Flower category, the brand has consistently maintained a presence in the top 15, peaking at rank 10 in April 2024 before gradually declining to rank 13 by June 2024. This performance indicates a strong but slightly fluctuating demand for their flower products. Conversely, in the Concentrates category, Local Cannabis Co. only appeared in the rankings in April 2024, positioned at rank 29, and subsequently dropped out of the top 30, which could be a cause for concern regarding their market penetration in this segment.
In the Pre-Roll category, Local Cannabis Co. started strong with a rank of 7 in both March and April 2024 but saw a decline to rank 13 by June 2024. This downward trend might suggest increasing competition or a shift in consumer preferences. The Vapor Pens category presents a more challenging scenario, as the brand was ranked 31 in March 2024 and dropped out of the top 30 by May 2024, further descending to rank 45 by June 2024. This significant drop highlights potential issues in product appeal or distribution effectiveness in this category. Overall, while Local Cannabis Co. has shown resilience in certain categories, there are clear areas needing strategic attention to improve their market standing.
Competitive Landscape
In the competitive landscape of Missouri's flower category, Local Cannabis Co. has experienced notable fluctuations in its rank and sales over the past few months. While the brand started strong in March 2024, ranking 12th, it saw a slight improvement in April, moving up to 10th place. However, subsequent months showed a decline, with Local Cannabis Co. dropping back to 12th in May and further down to 13th in June. This downward trend is significant when compared to competitors such as Vibe Cannabis (MO), which maintained a more stable position, consistently ranking around 9th to 11th place. Additionally, Buoyant Bob has shown resilience, holding steady at 13th place for three consecutive months before slightly improving to 12th in June. On the other hand, Robust demonstrated a positive trajectory, climbing from 23rd in March to 14th in June. These shifts highlight the competitive pressures faced by Local Cannabis Co. and underscore the importance of strategic adjustments to regain and sustain higher rankings in the Missouri flower market.
Notable Products
In June 2024, the top-performing product for Local Cannabis Co. was the Orange 43 Pre-Roll (1g) in the Pre-Roll category, leading with sales of $6,720. The Ice Creamz Pre-Roll 2-Pack (1g) secured the second position in the same category. The Orange 43 (3.5g) in the Flower category dropped to third place from its previous second position in May 2024. The Sherbhead Pre-Roll (1g) in the Pre-Roll category fell to fourth place after being the top product in May 2024. Lastly, the Sherbhead (3.5g) in the Flower category made its debut in the rankings, securing the fifth position.
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