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Apr-2024
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Overview
Market Insights Snapshot
In the competitive landscape of cannabis brands across various states, Matter. has shown a mixed but generally positive trajectory in categories such as Edibles, Flower, and Pre-Rolls. Particularly in Illinois, Matter. has maintained consistent rankings within the Flower and Pre-Roll categories, with a notable improvement in the Flower category from a rank of 30 in January 2024 to 25 in April 2024, accompanied by a significant sales jump to $596,447 in April. However, the brand faced challenges in the Edibles category, not making it into the top 30 until February 2024, but it has since shown gradual improvement. In contrast, New York presents a success story for Matter., with a remarkable climb in the Flower category from a rank of 27 in January to 4 by April 2024, reflecting a strong consumer preference and growing brand presence.
On the other hand, Matter.'s performance in Maryland and Massachusetts offers insights into the brand's varying appeal across states. In Maryland, the brand has shown strong performance in the Flower category, maintaining a top 15 ranking consistently from January to April 2024, with sales peaking at over 1.4 million in January. The Pre-Roll category, however, indicates room for growth, with rankings fluctuating but showing a positive trend towards April. Massachusetts presents a challenge with a dramatic shift in the Flower category, entering at rank 23 in March and dropping to 50 by April, suggesting potential distribution or market penetration issues that need addressing. This analysis underscores the importance of state-specific strategies for cannabis brands like Matter., highlighting successes and opportunities for growth across different markets and product categories.
Competitive Landscape
In the competitive landscape of the Flower category within Maryland, Matter. has experienced fluctuations in its market position, indicating a dynamic and competitive market. Initially ranked 9th in January 2024, Matter. saw a slight dip to 11th in February, a more significant drop to 15th in March, before climbing back to 10th in April. This volatility in rankings reflects the intense competition and varying consumer preferences in the Maryland cannabis market. Notably, Grassroots has shown a consistent upward trajectory, moving from 11th to 9th place, and outperforming Matter. in terms of sales growth, especially from March to April. Similarly, Grow West Cannabis Company has maintained a strong position, ranking higher than Matter. throughout the period and showing a more stable sales performance. On the other hand, Good Green and Strane have also been key competitors, with Good Green initially outperforming Matter. but then falling behind in April, and Strane consistently trailing slightly behind in rankings but maintaining steady sales. This competitive analysis underscores the need for Matter. to strategize effectively to enhance its market position and sales performance amidst fierce competition.
Notable Products
In April 2024, Matter saw Mimosa (3.5g) leading the sales chart in the Flower category, marking a significant rise to the top position with sales figures reaching 3274 units. Following closely, Green Gelato Pre-Roll 2-Pack (1g) from the Pre-Roll category maintained a strong presence by securing the second position, a slight shift from its leading stance in February. Animal Mints (3.5g) emerged as a new contender, achieving the third rank in the Flower category without prior rankings in the earlier months. Critical (3.5g) and Animal Mints Pre-Roll (1g), both new entries to the top list, ranked fourth and fifth respectively, indicating a diversifying interest among Matter consumers. These shifts highlight a dynamic market where new products quickly rise to prominence, underlining the evolving preferences within the Matter product range.
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