Market Insights Snapshot
Pinpoint has demonstrated substantial growth in the Concentrates category within the Missouri market. Starting from August 2023, the brand jumped from the 21st rank to consistently hold a position within the top 15 for the following months. This upward trend indicates a positive reception and growing demand for Pinpoint's Concentrates within the state. However, it's worth noting that the brand did not make it to the top 20 in August, which suggests there's potential for further growth and market penetration.
Similarly, in the Vapor Pens category, Pinpoint also made notable strides in the Missouri market. Although it started off at a lower rank of 24 in August 2023, the brand managed to improve its position to rank 18 in the subsequent months. This consistent ranking within the top 20 signifies a steady performance. However, the brand's initial absence from the top 20 in August indicates a need for improved strategies to increase its market presence. The sales data for November 2023 shows a promising increase, hinting at a potential upward trend in the upcoming months.
In the Vapor Pens category for Missouri, Pinpoint has shown a consistent upward trend in rank from August to November 2023, moving from 24th to 18th place. This improvement in rank is indicative of a positive growth in sales, outperforming several competitors. For instance, Ostara Cannabis and Proper Cannabis have both seen a decline in rank over the same period. Buoyant Bob has maintained a steady rank, but hasn't shown the same upward momentum as Pinpoint. Interestingly, COCO Labs, despite not being in the top 20 in August, has made significant strides to reach the 20th position by November. However, Pinpoint's consistent growth in both rank and sales indicates a stronger market performance relative to these competitors.
In November 2023, the top-performing product from Pinpoint was the Clementine Distillate Cartridge (1g) in the Vapor Pens category, with impressive sales of 2602 units. Following closely in second place was the Banana Runtz Distillate Cartridge (1g), also from the Vapor Pens category. The third position was held by the Durban Poison Distillate Cartridge (1g), demonstrating the high demand for Vapor Pens in this period. Interestingly, the Clementine Distillate Cartridge (1g) regained its top position from October, while the Banana Runtz Distillate Cartridge (1g) slipped from first to second place. The Slurricane Distillate Cartridge (1g) and Mimosa Live Resin Cartridge (1g) rounded out the top five, respectively.