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Jun-2024
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Overview
Market Insights Snapshot
The performance of TANK in the Vapor Pens category has shown significant movement across the months from March to June 2024 in Missouri. Starting at a rank of 12 in March, TANK made a notable climb to rank 7 in April, reaching as high as rank 2 in May before settling at rank 4 in June. This upward trajectory indicates a strong market presence and increasing consumer preference for TANK's products in this category. The sales figures align with these rankings, demonstrating a substantial increase from March to May, followed by a slight dip in June, yet maintaining a robust performance overall.
While TANK's presence in the Vapor Pens category in Missouri is impressive, it is important to note that the brand did not appear in the top 30 brands in other states or categories during this period. This absence in other markets could be seen as a potential area for growth or a reflection of regional preferences. The consistent high rankings in Missouri, however, suggest that TANK has successfully captured a significant share of the market there, making it a key player in the state's cannabis industry. This focused success could provide a strategic advantage as TANK looks to expand its footprint in other regions.
Competitive Landscape
In the Missouri Vapor Pens category, TANK has shown a remarkable fluctuation in its ranking over the past few months, reflecting both opportunities and challenges in the competitive landscape. TANK surged from the 12th position in March 2024 to an impressive 2nd place in May 2024, before settling at 4th in June 2024. This upward trend indicates a significant increase in consumer interest and market share. However, TANK faces stiff competition from brands like Platinum Vape, which consistently ranks in the top 5, and Illicit / Illicit Gardens, which has maintained a top 4 position throughout the period. Additionally, Show Me has shown strong performance, ranking as high as 2nd in June 2024. Despite these competitors, TANK's ability to climb the ranks so rapidly suggests that with strategic marketing and product development, it could continue to capture a larger share of the market.
Notable Products
In June 2024, the top-performing product from TANK was Blueberry Underground Distillate Cartridge (1g) in the Vapor Pens category, achieving the number one rank with sales of $3255. Pink Bubba Pop Distillate Cartridge (1g) secured the second position, climbing from the fourth rank in May 2024. Paradise Petrol Distillate Cartridge (1g) debuted at the third rank, while Lemon Whip Kush Distillate Disposable (1g) and Lemon Whip Kush Distillate Cartridge (1g) followed at fourth and fifth ranks, respectively. Notably, Pink Bubba Pop Distillate Cartridge (1g) showed significant improvement compared to previous months. Overall, June saw a reshuffling in rankings with new entries and notable advancements in sales figures.
Top Selling Cannabis Brands
