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Apr-2024
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Overview
Market Insights Snapshot
In the ever-evolving cannabis market, Tyson 2.0 has shown a notable presence across multiple states and categories, with performance varying significantly by location and product type. For instance, in California, the brand's edible category saw a fluctuating rank from January to March 2024, moving from 66th to 59th and then slightly dropping to 61st, indicating a struggle to maintain upward momentum in this highly competitive market. Conversely, in Nevada, Tyson 2.0's edibles improved in ranking from 22nd in January to 17th in March, coupled with a consistent increase in sales, suggesting a growing consumer preference for their edibles in this state. However, the absence from the top 30 brands in categories and states for certain months, such as the edible category in Michigan for the early part of 2024, highlights areas where the brand has room for growth and improvement.
On the brighter side, Tyson 2.0's performance in the pre-roll category across several states showcases the brand's strengths. Notably, in Missouri, the brand made a significant leap from not ranking in January to 27th by April, a testament to its growing popularity and effective market strategies in the state. Similarly, in Nevada, the brand maintained a strong position within the top 21 from January to April 2024, reflecting a stable consumer base for its pre-roll products. This consistency in performance, especially in the competitive Nevada market, underlines Tyson 2.0's ability to meet consumer demands in a key category. However, the late entry into the Michigan market in April, ranking 79th for edibles and 66th for pre-rolls, suggests a challenging road ahead as the brand works to establish a foothold in new territories.
Competitive Landscape
In the competitive landscape of the Flower category within the New York market, Tyson 2.0 has experienced a fluctuating trajectory in terms of rank and sales over the recent months. Starting at 14th rank in January 2024, it saw a brief improvement to 12th in February, before dropping out of the top 20 in March and April to the 22nd position. This indicates a challenging period for Tyson 2.0, especially when compared to its competitors. For instance, Mfny (Marijuana Farms New York) initially ranked higher in January, dipped significantly in February, but made a notable recovery by March and April, ending slightly above Tyson 2.0 in rank and sales. On the other hand, Honest Pharm Co showed a remarkable surge from being well below the top 20 in the early months to securing the 21st position by April, with sales figures that closely rival Tyson 2.0's. Meanwhile, Tarot Tokes and Rolling Green Cannabis maintained more consistent, albeit lower, rankings and sales figures compared to Tyson 2.0. This competitive analysis underscores the volatility of the Flower category in New York and highlights the need for Tyson 2.0 to adapt and strategize effectively to improve its market position and sales trajectory amidst stiff competition.
Notable Products
In April 2024, Tyson 2.0's top-selling product was the Pound for Pound Cake Pre-Roll (1g) within the Pre-Roll category, maintaining its number one rank from the previous two months with notable sales of 11,195 units. Following closely, the Sticky Toad Pre-Roll (1g) rose significantly to the second position from its fifth place in March, showcasing a rapid increase in consumer preference. The Knockout OG Pre-Roll (1g) debuted in the rankings directly at the third spot, indicating a strong market entry. Another noteworthy product, Knockout OG (3.5g) from the Flower category, held its ground by securing the fourth rank, consistent with its performance in March. The Gelato 44 Pre-Roll (1g) also made its first appearance in the top five, highlighting a diversifying interest among Tyson 2.0's clientele towards different strains and product types.
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