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Apr-2024
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Overview
Market Insights Snapshot
In the competitive landscape of cannabis pre-rolls, TWAX has shown varied performance across different states, an interesting trend that reflects both the brand's potential and areas for growth. In Colorado, TWAX's ranking fluctuated slightly in the early months of 2024, moving from 55th in January to 60th in April, indicating a slight downward trend in a highly competitive market. This movement, coupled with a dip in sales from March to April (from 27,929 to 18,762), suggests challenges in maintaining market share amidst fierce competition. Conversely, in Missouri, TWAX demonstrated remarkable performance, significantly improving its ranking from 11th in January to 7th in April. This upward trend is underscored by a substantial increase in sales, peaking at 499,927 in April, showcasing the brand's strong appeal and growing dominance in Missouri's pre-roll category.
However, TWAX's journey in Massachusetts tells a different story, highlighting the brand's struggles in certain markets. The brand was not ranked in the top 30 brands for two consecutive months (February and March 2024), a notable absence that points to significant challenges in capturing consumer interest or distribution issues. Despite re-entering the rankings at 97th in April, the lower sales figures (14,226) compared to January (17,649) indicate a struggle to gain momentum in a competitive landscape. This contrast in performance across states—thriving in Missouri while facing hurdles in Massachusetts and experiencing a slight decline in Colorado—offers a nuanced view of TWAX's market presence, underscoring the importance of strategic adaptations to local market dynamics and consumer preferences to enhance overall brand performance and growth.
Competitive Landscape
In the competitive landscape of the Pre-Roll category in Missouri, TWAX has shown a notable trajectory in its performance against its competitors. Initially ranked 11th in January 2024, TWAX experienced a slight dip to 13th in both February and March, before making a significant leap to 7th place in April. This rise in rank is particularly impressive when considering the sales growth, with TWAX's sales surging in April. In comparison, Sinse Cannabis, despite maintaining a higher rank than TWAX in the earlier months, saw a decrease in rank in April to 8th, closely trailing TWAX. CLOVR and CODES, both strong contenders, have shown consistent performance but with CODES making a remarkable jump from 18th to 5th place from January to April, indicating a significant increase in their market share and competitiveness. Packs Cannabis (MO), while maintaining a steady presence, has not shown the same level of dynamic movement in rank or sales as TWAX. This analysis underscores TWAX's upward mobility and potential to further disrupt the Pre-Roll market in Missouri, suggesting a brand on the rise amidst fierce competition.
Notable Products
In April 2024, TWAX's top-performing product was the Blueberry Distillate Infused Pre-Roll (1g) within the Pre-Roll category, maintaining its number one rank from previous months with impressive sales of 9,399 units. The Lemon Haze Distillate Infused Pre-Roll (1g) followed as the second top product, improving its rank from third in March to second, showcasing a notable shift in consumer preference. Banana Cream Distillate Infused Pre-Roll (1g) secured the third position, slightly moving up from its fourth-place ranking in March, indicating a consistent demand among TWAX's offerings. The Grapevine Distillate Infused Pre-Roll (1g) experienced a slight dip, falling to fourth place in April after consistently holding the second rank in the preceding months, suggesting a change in consumer tastes or market dynamics. Lastly, the Lime Sorbet Distillate Infused Pre-Roll (1g) remained steady at the fifth rank, illustrating a stable but lower demand compared to TWAX's leading products.
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