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Apr-2024
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Overview
Market Insights Snapshot
In the competitive cannabis market of Missouri, Lotus Premium Extracts has shown a notable performance across various categories. Particularly in the Concentrates category, the brand has made an impressive leap from not being in the top 30 in January 2024 to securing the 15th rank by April 2024. This upward trajectory is underscored by a significant increase in sales, from $23,035 in January to $177,136 in April, indicating a growing consumer preference for their concentrates. However, their journey in the Vapor Pens category tells a different story, with the brand entering the rankings at 51st place in February but then dropping to 71st by March, and subsequently disappearing from the top 30 rankings altogether, suggesting challenges in capturing the vapor pen market or possibly stock issues.
On the other hand, the Pre-Roll category paints a picture of steady improvement for Lotus Premium Extracts. Although starting at a lower rank of 59th in January, the brand has consistently climbed the rankings, reaching 42nd by April. This progress, coupled with a marked increase in sales from $21,932 in January to $47,174 in April, reflects a solidifying foothold within the Pre-Roll sector in Missouri. It's interesting to note the variance in performance across categories, where Lotus Premium Extracts excels in Concentrates and Pre-Rolls but seems to struggle in the Vapor Pens market. These insights into category-specific performance and ranking movements provide a nuanced understanding of the brand's market dynamics, highlighting areas of strength and opportunities for growth.
Competitive Landscape
In the competitive landscape of the concentrates category in Missouri, Lotus Premium Extracts has shown a notable upward trajectory in rankings over the recent months, moving from 38th in January 2024 to 15th by April 2024. This improvement in rank is accompanied by a significant increase in sales, indicating a growing market presence and consumer preference. Competitors such as Flora Farms and Robust have also experienced growth, with Flora Farms climbing from not being in the top 20 in January to 14th by April, and Robust moving up to 17th in the same period. However, Farmer G and Pinpoint, despite experiencing some fluctuations, have maintained higher ranks and sales figures compared to Lotus Premium Extracts, indicating a strong competitive edge. The directional trend suggests that while Lotus Premium Extracts is gaining momentum, it still faces stiff competition from established brands that hold higher ranks and sales figures.
Notable Products
In April 2024, Lotus Premium Extracts saw Bubba Fett Sugar Wax (1g) from the Concentrates category leading in sales with a significant figure of 3919 units, maintaining its top position from the previous month. Following closely, Jungle Pie Live Resin (1g) also in the Concentrates category, moved up to the second spot with a notable increase in sales, demonstrating a positive trend from its third position in March. The third-ranking product was Durban Bananas Infused Pre-Roll (1.25g) from the Pre-Roll category, which showed resilience by climbing from the fourth position in March to the third in April. Larry Legend Infused Pre-Roll (1.25g) and Yoda's Headband Infused Pre-Roll (1.25g), both from the Pre-Roll category, rounded out the top five, with the former moving up from fifth to fourth and the latter experiencing a slight drop from second to fifth compared to the previous month. These shifts highlight a dynamic market, with Concentrates showing a strong performance and Pre-Rolls maintaining steady popularity among Lotus Premium Extracts offerings.
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