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Mar-2024
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Overview
Market Insights Snapshot
In the competitive landscape of cannabis products, PAX has shown a varied performance across different states and categories. Notably, in Colorado, PAX's Vapor Pens have maintained a strong position within the top 20 rankings from December 2023 to March 2024, indicating a consistent demand for their vapor pens in this region. On the other hand, their Edibles category in Colorado saw a significant jump in February 2024, moving up to the 11th rank from the 41st in January 2024, suggesting a possible seasonal preference or successful marketing efforts. However, in British Columbia, PAX's Vapor Pens experienced a decline, falling out of the top 30 by March 2024, which might reflect changing consumer preferences or increased competition within the province.
Meanwhile, in Massachusetts, PAX's position in the Vapor Pens category has shown slight declines but remained within the top 15 from December 2023 to March 2024, showcasing a strong foothold in the market despite slight fluctuations. This is contrasted by their performance in the Concentrates category in the same state, where they have struggled to maintain a consistent ranking, ultimately falling to the 62nd position by March 2024. Such movements highlight the challenges PAX faces in diversifying its product appeal across different cannabis categories. Additionally, the brand's presence in New York shows resilience in the Vapor Pens category, maintaining a top 15 position, yet facing volatility in the Concentrates category, with an absence in the rankings for March 2024, which could signal operational or supply chain issues specific to that product line in the state.
Competitive Landscape
In the competitive landscape of the Vapor Pens category in California, PAX has experienced a consistent ranking within the top 30 brands from December 2023 through March 2024, maintaining positions close to the mid-20s. Notably, PAX's sales showed a slight increase in March 2024 compared to February, indicating a potential stabilization or minor growth in its market presence. Competing brands such as ABX / AbsoluteXtracts and Cookies have seen fluctuations in their rankings, with both experiencing a slight decline by March 2024. Interestingly, UP! demonstrated a significant improvement, jumping from the 31st position in December 2023 to the 26th by March 2024, alongside a notable increase in sales that surpassed PAX in the same month. This shift indicates a dynamic competitive environment where brands like UP! are emerging as strong contenders, potentially challenging PAX's market position. Meanwhile, Kingpen remained outside the top 20, suggesting a more stable but lower-tier competition for PAX.
Notable Products
In March 2024, PAX's top-selling product was the Blue Dream Fresh Press Live Rosin Pax Era Pod (1g) in the Vapor Pens category, maintaining its position from February with sales figures reaching 3479 units. The second spot was taken by the Blue Dream Live Rosin Pax Era Pod (0.5g), also in the Vapor Pens category, marking its impressive debut in the rankings with substantial sales. The Heirloom Peach Live Rosin Gummies 20-Pack (100mg) from the Edibles category secured the third position, showing a slight rank improvement from the previous month. Notably, the Blueberry OG Fresh Pressed Live Rosin Pax Era Pod (0.5g) debuted in the rankings at fourth place, indicating a strong preference for Vapor Pens products among PAX offerings. The Summer Mango Live Rosin Gummies 20-Pack (100mg) rounded out the top five, despite a drop from its previous number one rank in February, showcasing the fluctuating consumer interest in Edible products.
Top Selling Cannabis Brands
