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Apr-2024
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Overview
Market Insights Snapshot
In the dynamic landscape of cannabis markets across the United States, Old Pal has shown notable performance variations, particularly in the flower category. In Arizona, Old Pal demonstrated a positive trajectory, moving from a rank of 26 in January to 14 by April, indicating a strong upward trend and growing market presence. This is underscored by a significant increase in sales from January's $281,282 to $469,508 in April. Conversely, in Illinois, Old Pal's flower category experienced a decline, falling out of the top 30 by April, with a decrease in sales to $67,638, signaling challenges in maintaining its market position amidst competitive pressures.
Meanwhile, in Massachusetts and Maryland, Old Pal's flower category has secured and sustained high rankings, peaking at 7th and 15th place, respectively. This performance points to a strong consumer preference and brand recognition within these states. Particularly impressive is the brand's growth in Maryland, where it leaped from a rank of 38 in January to 15 by April, alongside a monumental sales increase, reflecting a robust market penetration and effectiveness in capturing consumer interest. However, in markets such as Nevada and Ohio, Old Pal's presence is either diminishing or remains stagnant, as evidenced by its absence in the top 30 rankings for some categories after initial entries, highlighting the brand's inconsistent performance across different state markets.
Competitive Landscape
In the competitive landscape of the cannabis flower category in Massachusetts, Old Pal has demonstrated a notable performance, maintaining its position within the top 10 brands over the observed period. Starting at rank 9 in January 2024 and peaking at rank 7 in February and March, before slightly dropping to rank 8 in April, Old Pal has shown resilience amidst fierce competition. Notably, Road Tripper has consistently outperformed Old Pal, holding a higher rank throughout the period and indicating a stronger market presence. Conversely, Glorious Cannabis Co. and Happy Valley have trailed behind Old Pal, despite Happy Valley's climb in the rankings, suggesting Old Pal's superior market positioning against these competitors. Meanwhile, Find. has shown an impressive trajectory, moving ahead of Old Pal in April. This dynamic ranking movement underscores the competitive intensity within the Massachusetts flower market, highlighting Old Pal's need to innovate and adapt to maintain and improve its market standing.
Notable Products
In Apr-2024, Old Pal's top-selling product was NF1 (28g) from the Flower category, maintaining its Mar-2024 top rank with an impressive sales figure of 2384 units. Following closely, Angry Apples (3.5g) Flower made a significant debut in the rankings, securing the second position without previous sales data for comparison. Headband (3.5g) Flower, previously leading in Jan-2024 and Feb-2024, dropped to the third spot in Apr-2024, indicating a shift in consumer preferences. Dionysus Popcorn (14g) Flower and J1 Infused Blunt (2g) Pre-Roll also made their first appearance in the rankings at fourth and fifth positions respectively, showcasing a diversifying interest among Old Pal's product offerings. This month's rankings highlight dynamic consumer trends and the growing popularity of new entries within Old Pal's product line.
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