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Mar-2024
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Overview
Market Insights Snapshot
In the dynamic landscape of cannabis markets, Shango has shown notable performance across various categories and states, with particular strengths and weaknesses emerging in its strategy. In Arizona, Shango has maintained a strong presence in the Flower category, consistently ranking within the top 5 from December 2023 to March 2024, despite a slight dip in sales from December's high of over 1.7 million dollars. However, the brand faced challenges in the Pre-Roll category, where it experienced a significant drop from 7th to 16th place, indicating a potential area for strategic realignment. Conversely, Shango's Concentrates category in Arizona showed upward mobility, improving from a rank outside the top 30 in December to 18th by March, which could signal a growing consumer interest or effective market penetration strategies in this segment.
Looking beyond Arizona, Shango's performance in other states presents a mixed bag of outcomes that suggest varied market penetration capabilities and consumer preferences. In Nevada, the brand has demonstrated consistent strength in the Flower and Pre-Roll categories, with rankings improving or holding steady, a positive sign of brand loyalty and product satisfaction. However, in Michigan and Missouri, Shango struggled to make a significant impact in the Edibles and Vapor Pens categories, with rankings often falling outside the top 50, and in Michigan's case, not even making it to the rankings in March 2024 for Edibles and Flower. This could indicate either a highly competitive market environment or a need for Shango to revisit its market strategies in these states. Notably, in Oregon, Shango has excelled in the Flower category, securing the top rank from February to March 2024, showcasing the brand's strong market presence and consumer preference in this region.
Competitive Landscape
In the competitive landscape of the Oregon cannabis flower market, Shango has demonstrated a notable upward trajectory, moving from the third rank in December 2023 to securing the top position by March 2024. This rise in rank is mirrored by a significant increase in sales, underscoring Shango's growing dominance. Its main competitors, Doghouse Farms (OR) and Culture Farms, have also shown strong performances but have not matched Shango's growth. Doghouse Farms (OR) maintained a steady position, moving from fifth to third, while Culture Farms experienced a slight fluctuation, initially ranking second, dropping to fourth, and then recovering to second again. Despite these shifts, Shango's sales in March 2024 were significantly higher than both competitors, indicating a stronger market presence and consumer preference. This trend suggests that Shango is not only leading in rank but also setting the pace in sales growth within the Oregon flower category, potentially influencing market dynamics and consumer choices in its favor.
Notable Products
In March 2024, Shango's top-selling product was Alien Banana Candy (3.5g) from the Flower category, which saw a significant leap to the first rank with sales figures reaching 9874.0 units. Following closely behind was the Modified Banana Pre-Roll (0.6g) in the Pre-Roll category, maintaining a strong performance with a shift from second to second rank over the recent months. The third spot was taken by Apple Rock Candy Pre-Roll (0.6g), also in the Pre-Roll category, marking its debut in the rankings for March. Notably, Grandpas Breath (3.5g) and New York Diesel (28g), both from the Flower category, entered the rankings for the first time in March, securing the fourth and fifth positions, respectively. This shift indicates a growing preference for Flower products in Shango’s sales dynamics, alongside a consistent interest in Pre-Rolls.
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