Mar-2024
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Overview
Market Insights Snapshot
Smokiez Edibles has shown a notable performance across various states and categories, with a particularly strong presence in the Edibles category. In Missouri, the brand has achieved remarkable success, maintaining the number 1 rank in the Edibles category from December 2023 to March 2024, indicating a strong consumer preference and brand loyalty in this market. This is further supported by a significant increase in sales from 1,887,821 in December 2023 to 2,020,323 in March 2024. Conversely, in the Nevada market, Smokiez Edibles experienced a decline in the Edible category, moving from rank 14 in December 2023 to rank 22 in March 2024, which might indicate challenges in maintaining market share or increased competition in this region. This fluctuation in rankings highlights the brand's varying performance across different states, suggesting a need for tailored strategies to enhance market penetration and consumer engagement in less dominant areas.
Exploring Smokiez Edibles' performance in other categories and states reveals a diverse market presence. For instance, in the Oregon market, the brand has demonstrated versatility by securing strong positions not only in Edibles but also in Beverages, Tincture & Sublingual, and Topicals, with notable improvements in rankings from December 2023 to March 2024 across these categories. This indicates a successful expansion and consumer acceptance in various cannabis product forms within Oregon. On the other hand, in the Michigan market, the brand faced challenges in the Beverage category, with an absence in the top rankings in March 2024, which might reflect either a strategic withdrawal or an area for growth. The varying performance across categories underscores the brand's dynamic market engagement strategy, adapting to consumer preferences and competitive landscapes in different states.
Competitive Landscape
In the competitive landscape of the Missouri edible cannabis market, Smokiez Edibles has shown remarkable performance, ascending to the top rank by March 2024 from its previous second position in December 2023. This upward trajectory in rank and sales is indicative of the brand's growing popularity and consumer preference within the state. Notably, Smokiez Edibles has outperformed its competitors, including Wana, which consistently held the third rank, and Gron / Grön, which moved from the leading position in December 2023 to second place thereafter. The sales trends reflect a significant increase for Smokiez Edibles, with a notable gap widening between it and its closest competitors, suggesting a strengthening market position and a potentially increasing market share within the Missouri edible cannabis sector.
Notable Products
In March 2024, Smokiez Edibles saw Sativa Sour Peach Fruit Chews 10-Pack (100mg) leading their sales with 27,183 units sold, maintaining its top position from February. Following closely was Hybrid Sour Watermelon Fruit Chews 10-Pack (100mg), which secured the second spot, marking a slight shift from its previous leading position in January. The third-ranking product was Sweet Watermelon Live Resin Fruit Chews 10-Pack (100mg), showing consistent improvement from its fourth rank in December 2023 to third in March 2024. Indica Sour Blue Raspberry Fruit Chews 10-Pack (100mg) also showed a positive trend, moving up from fifth to fourth place over the same period. Interestingly, Sativa Sweet Peach Fruit Chews 20-Pack (100mg) experienced a drop, missing from the rankings in January and landing fifth in March, indicating fluctuating consumer preferences within Smokiez Edibles' product lineup.