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Apr-2024
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Overview
Market Insights Snapshot
In Missouri, the cannabis brand Pinpoint has shown a mixed performance across different categories, with notable movements in both the Concentrates and Vapor Pens segments. For Concentrates, Pinpoint experienced a gradual decline in rankings from January to April 2024, slipping from 7th to 16th position. This downward trend suggests a potential decrease in market share or increased competition within the state. Conversely, in the Vapor Pens category, Pinpoint maintained a more stable position in the middle of the rankings before slightly improving from 16th to 14th place by April 2024. This stability, coupled with a final uptick, could indicate resilience and possibly an increasing consumer preference within this segment.
Despite the contrasting trends in these two categories, the sales data provides further insights into Pinpoint's market dynamics. In January 2024, Pinpoint's sales in the Concentrates category were reported at $252,496, but saw a decrease in the following months, aligning with its falling rank. However, the Vapor Pens segment tells a different story, with sales increasing from January's $646,204 to $716,812 by April 2024, despite the initial static ranking. This growth in sales amidst stable rankings highlights a potentially increasing consumer loyalty or successful marketing efforts within the Vapor Pens category. It's important to note, the overall performance of Pinpoint across these categories and the implications of these trends for the brand's strategy in Missouri's competitive cannabis market.
Competitive Landscape
In the competitive landscape of Vapor Pens in Missouri, Pinpoint has shown a consistent performance amidst fluctuating dynamics among its competitors. Notably, Amaze Cannabis has made a significant leap from being ranked 20th in January to 12th by April, indicating a strong upward trajectory in both rank and sales, surpassing Pinpoint in the latter month. Conversely, Ostara Cannabis, despite starting stronger than Pinpoint in January, saw a decline to 15th place by April, showcasing a potential vulnerability in its market position. Greenlight also displayed remarkable growth, moving from a distant 47th to 16th, closely trailing Pinpoint by the end of the period. Meanwhile, TANK has been neck and neck with Pinpoint, ending up just one rank above it in April. This competitive analysis underscores the volatile nature of the Vapor Pens category in Missouri, with Pinpoint maintaining a relatively stable position amidst significant rank and sales shifts among its competitors.
Notable Products
In April 2024, Pinpoint's top-selling product was the Durban Poison Distillate Cartridge (1g) within the Vapor Pens category, achieving the highest sales figures at 3913 units. Following closely, the Northern Lights Distillate Cartridge (1g) secured the second rank with a notable improvement from its previous third position in March. The Clementine Distillate Cartridge (1g) consistently held the third spot over the past few months, indicating steady demand among consumers. The Banana Runtz Distillate Cartridge (1g) also maintained its position at fourth, showing a stable preference among Pinpoint's offerings. Lastly, the Rainbow Belts Distillate Cartridge (1g) emerged in the rankings, climbing to the fifth position in April, showcasing its growing popularity.
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