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Sep-2024
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Overview
Market Insights Snapshot
In the vapor pen category, TANK has shown a fluctuating performance in the state of Missouri over the past few months. Starting strong in June 2024 with a rank of 3rd, TANK saw a dip to the 6th position in July before recovering slightly to 5th place in August. However, by September, TANK's rank fell to 9th, indicating a potential challenge in maintaining its competitive edge in the market. This downward trend in rankings is mirrored by a consistent decrease in sales, from approximately $1.72 million in June to about $1.20 million by September, suggesting that TANK might need to reassess its strategies to regain its earlier momentum.
It's noteworthy that TANK's presence in the top 30 brands in the vapor pen category is limited to Missouri, as no other states or provinces have reported TANK within their top 30 rankings. This could either indicate a focused market strategy or potential growth opportunities in other regions that TANK has yet to explore. The absence of TANK in the top rankings elsewhere could be perceived as a gap in market penetration, suggesting that there might be untapped potential for the brand in other markets if strategic adjustments are made. As TANK evaluates its performance, understanding these dynamics will be crucial for future expansion and sustained success in the competitive landscape of cannabis vapor pens.
Competitive Landscape
In the competitive landscape of vapor pens in Missouri, TANK has experienced notable fluctuations in its ranking and sales performance from June to September 2024. Initially holding a strong position at rank 3 in June, TANK saw a decline to rank 9 by September, indicating increased competition and a need for strategic adjustments. Despite this drop, TANK's sales remained robust, consistently outperforming competitors such as Timeless and AiroPro, whose rankings fluctuated more dramatically, with Timeless even falling out of the top 20 in August. Meanwhile, Elevate (Elevate Missouri) and Galactic showed upward trends, with Galactic notably surpassing TANK in sales by September. This competitive pressure suggests that while TANK maintains a strong market presence, it must innovate and adapt to regain its earlier top-tier ranking.
Notable Products
In September 2024, the top-performing product from TANK was the Lemon Whip Kush Distillate Cartridge (1g) in the Vapor Pens category, maintaining its number one rank for the third consecutive month, despite a decrease in sales to 3415. The Blueberry Underground Distillate Cartridge (1g) rose to the second position, although it saw a decline in sales compared to August. New to the rankings, the Blueberry Underground Distillate Disposable (1g) secured the third spot, indicating a strong market entry. Berry Bloomz Distillate Disposable (1g) followed closely in fourth place, showcasing its growing popularity. Lastly, the Berry Bloomz BDT Distillate Cartridge (1g) dropped to fifth position from second in August, reflecting a significant decrease in sales performance.
Top Selling Cannabis Brands
Data for this report comes from real-time sales reporting by participating cannabis retailers via their point-of-sale systems, which are linked up with Headset’s business intelligence software. Headset’s data is very reliable, as it comes digitally direct from our partner retailers. However, the potential does exist for misreporting in the instance of duplicates, incorrectly classified products, inaccurate entry of products into point-of-sale systems, or even simple human error at the point of purchase. Thus, there is a slight margin of error to consider. Brands listed on this page are ranked in the top twenty within the market and product category by total retail sales volume.
