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Apr-2024
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Overview
Market Insights Snapshot
In Missouri, Teal Cannabis has shown a varied performance across different cannabis product categories over the recent months. In the Concentrates category, the brand experienced a gradual decline in rankings from January to April 2024, starting at 22nd and falling to 35th, indicating a significant decrease in its market position. This downward trend was mirrored in sales figures, with a sharp drop from $94,289 in January to $40,208 in April. Conversely, the Pre-Roll category tells a different story, where Teal Cannabis initially ranked outside the top 30 in January and February but made a notable jump to 30th in March and slightly adjusted to 33rd in April. This improvement was reflected in a substantial increase in sales, peaking at $89,597 in March before a slight decrease in April.
Furthermore, Teal Cannabis's performance in the Vapor Pens category within the same state remained relatively stable, albeit with a slight downward trend. The brand maintained its position within the 27th to 31st rank range from January to April 2024. Despite this stability in rankings, sales figures showed a consistent decline, starting from $263,033 in January and reducing to $174,542 by April. This indicates that while Teal Cannabis managed to hold its ground in terms of market ranking within the Vapor Pens category, it faced challenges in sustaining its sales volume. Such trends highlight the competitive dynamics and consumer preferences that can significantly impact brand performance across different cannabis product categories in Missouri.
Competitive Landscape
In the competitive landscape of the Vapor Pens category in Missouri, Teal Cannabis has experienced a slight fluctuation in its ranking over the first four months of 2024, starting at 27th in January, peaking at 30th in February and March, and then slightly declining to 31st in April. This trend indicates a challenging environment for Teal Cannabis, especially when compared to its competitors. For instance, Ratio has shown a notable improvement, moving from 37th in January to 29th in April, even surpassing Teal Cannabis in the rankings. On the other hand, Nuvata and COCO Labs have also seen fluctuations but remained relatively close in rank to Teal Cannabis by the end of April. Smokey River Cannabis, starting from 39th in January, has gradually improved to 33rd by April, showcasing a competitive edge in sales and rank improvement. This analysis suggests that while Teal Cannabis maintains a presence in the market, there is a clear indication of competitive pressure from both established and emerging brands, which could impact its sales and market position if current trends continue.
Notable Products
In Apr-2024, Teal Cannabis saw the Gas Cake Pre-Roll 2-Pack (1g) leading their sales with 671 units, marking it as their best-selling product for the month. Following closely, the Lost Cause Pre-Roll (1g) took the second spot without having been in the top rankings in the previous months. The Blue Dream Pre-Roll 2-Pack (1g), which was the top seller in March, slipped to the third position in April. The Diamond Master X Grape Kush Pre-Roll 2-Pack (1g) showed a slight improvement, moving up to the fourth rank in April from the fifth in February. Lastly, the Orange Cookie Chem Pre-Roll 2-Pack (1g) also experienced a drop in its rank, moving from second in March to fifth in April, showcasing a dynamic shift in consumer preferences within the category.
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