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Aug-2024
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Overview
Market Insights Snapshot
Lotus Premium Extracts has shown significant improvement in the Missouri market, particularly in the Concentrates category. Starting at rank 22 in May 2024, the brand climbed to rank 9 by August 2024. This upward trajectory reflects a consistent increase in sales, with a notable jump from $184,181 in July to $299,103 in August. The brand's performance in the Pre-Roll category, while not as dramatic, also shows positive movement. Despite not being in the top 30 in May, it has made steady progress, reaching rank 23 by August. This indicates a growing acceptance and popularity of Lotus Premium Extracts among consumers in Missouri.
However, it is important to note that Lotus Premium Extracts did not make it into the top 30 brands in the Pre-Roll category in May 2024, which could be seen as a weak starting point. The brand's ability to climb to rank 23 by August is commendable, but it highlights the competitive nature of the Pre-Roll market in Missouri. In contrast, the rapid rise in the Concentrates category suggests that Lotus Premium Extracts has found a strong foothold and is capitalizing on consumer preferences in this segment. This dual performance across categories provides a nuanced picture of the brand's market dynamics and areas of strength and potential improvement.
Competitive Landscape
In the competitive landscape of the Missouri concentrates market, Lotus Premium Extracts has shown a remarkable upward trajectory in recent months. Starting from a rank of 22 in May 2024, Lotus Premium Extracts climbed to rank 9 by August 2024, indicating a significant improvement in market positioning. This rise can be contrasted with the performance of competitors such as Amaze Cannabis, which saw a more modest improvement from rank 15 to rank 10 over the same period, and Heartland Labs, which maintained a strong position, consistently ranking in the top 12 and peaking at rank 7. Another notable competitor, Infinity (MO), experienced a slight decline from rank 6 to rank 8, suggesting a potential shift in consumer preference towards Lotus Premium Extracts. The data indicates that while COCO Labs also improved its rank from 17 to 11, Lotus Premium Extracts' more dramatic rise in rank and sales suggests a growing consumer base and increased market share, making it a brand to watch in the Missouri concentrates market.
Notable Products
In August 2024, the top-performing product for Lotus Premium Extracts was Larry Legend Infused Pre-Roll (1.25g), maintaining its first-place ranking with a notable sales figure of 6964 units. Headband Cookies Budder (1g) secured the second spot, rising from third place in June to second since July. Bubba Fett Sugar Wax (1g) consistently held the third position from June through August. Lemon Icing Badder (1g) remained in fourth place across all four months. Blue Cookies Budder (1g) also showed steady performance, consistently ranking fifth from May to August.
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.
