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Apr-2024
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Overview
Market Insights Snapshot
In Oregon, Noble Farms has shown a notable trajectory in the Flower category, moving from a rank of 48 in January 2024 to 24 by April 2024. This upward movement is significant, indicating a growing market presence and consumer preference within the state. Notably, their sales in January started at 146,907 dollars, with a remarkable increase to 294,922 dollars by April. Such a trend not only highlights the brand's growing appeal but also suggests an effective strategy in capturing market share. However, it's concerning that they were not ranked within the top 30 brands for the Pre-Roll category after February, which could indicate challenges in maintaining market visibility or consumer interest in this segment.
On the other hand, the performance of Noble Farms in the Pre-Roll category presents a contrast to their success with Flower. Initially ranked at 65 in January 2024, they experienced a slight dip in ranking to 73 in February, with no subsequent rankings in the top 30 for March and April. This disappearance from the rankings could reflect a need to reassess their Pre-Roll strategy in Oregon. While the Flower category demonstrates strong growth and potential, the absence in Pre-Roll rankings post-February suggests that Noble Farms might be facing challenges in either product distribution, marketing, or consumer engagement in this particular category. This divergence between product lines underscores the importance of a balanced approach to market presence across different cannabis product categories.
Competitive Landscape
In the competitive landscape of the Oregon flower cannabis market, Noble Farms has shown a notable upward trajectory in rankings and sales from January to April 2024, moving from a rank of 48th in January to 24th in April. This improvement is significant when compared to its competitors, such as Meraki Gardens, which also improved but maintained a slightly higher rank in April at 22nd. SugarTop Buddery and Tao Gardens showed fluctuations in their rankings but remained close to Noble Farms, ending April at 25th and 26th, respectively. Notably, Earl Baker demonstrated a significant rise, moving from 41st in January to 23rd in April, slightly outperforming Noble Farms by one rank. Despite the competitive pressure, Noble Farms' consistent sales growth and improvement in rank highlight its resilience and growing consumer preference within the Oregon flower cannabis market, suggesting a positive trajectory amidst stiff competition.
Notable Products
In April 2024, Noble Farms saw Durban Poison (Bulk) leading their sales chart in the Flower category, with an impressive sales figure of 3981 units, marking a significant leap from its March ranking of 2nd to 1st place. Following closely, Cap Junky (1g) secured the 2nd position, showing a consistent performance from previous months but with a notable increase in sales. Jack Herer (Bulk) dropped from the top position in January to 3rd in April, indicating a shift in consumer preference over the quarter. Banana Cream Cake x Jealousy (Bulk) made a noteworthy entry at 4th place, directly from its previous top rank in March, suggesting a high initial demand that slightly tapered off. Lastly, Cap Junky (3.5g) entered the rankings at 5th place, illustrating the diverse preferences of Noble Farms' clientele and the competitive nature of the Flower category.
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