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Apr-2024
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Overview
Market Insights Snapshot
In the edible category, Zen Cannabis has shown a consistent performance in California, maintaining its position within the top 30 brands from January to April 2024, with a slight improvement in ranking from 27th to 25th place. This upward trend, coupled with a steady increase in sales from January's $164,695 to April's $207,475, indicates a growing consumer preference within this competitive market. However, in Massachusetts, Zen Cannabis experienced a decline, starting strong at 18th position in January and February but slipping to 30th by April. This drop in ranking, alongside a decrease in sales from $132,372 in January to $74,902 in April, suggests challenges in maintaining market share in the face of stiff competition or possibly shifting consumer preferences within the state.
Remarkably, Zen Cannabis has demonstrated exceptional performance in the Missouri market, particularly in the tincture & sublingual category, securing the top spot by April 2024 after starting the year in 2nd place. This dominance is further underscored by its consistent top 10 presence in the edibles category within the same state, showcasing a strong brand preference among Missouri consumers. The brand's ability to not only retain but also improve its standing in a highly specialized category like tincture & sublingual, moving from 2nd to 1st place, speaks volumes about its market strategy and consumer loyalty. Despite a slight decrease in sales from $62,197 in February to $41,425 in April for tinctures & sublinguals, maintaining the number one rank indicates a solidified brand presence and a potentially strategic focus on high-margin products.
Competitive Landscape
In the competitive landscape of the edible cannabis market in Missouri, Zen Cannabis has experienced a notable shift in its standing. Initially ranked 4th in January 2024, Zen Cannabis saw a gradual decline in rank over the subsequent months, dropping to 8th by April 2024. This shift in rank is indicative of the dynamic nature of the market and the intense competition among brands. Notably, Honeybee made a significant leap, moving up from 11th to 7th place by April, surpassing Zen Cannabis in the process. This was accompanied by a substantial increase in sales, underscoring Honeybee's growing market presence. Meanwhile, Panda (MO) also saw an impressive rise, moving from 9th to 6th place, further intensifying the competition. On the other hand, Kosmik Brands and Illicit / Illicit Gardens maintained a relatively stable position but did not exhibit the same level of upward momentum as some of their competitors. This competitive analysis highlights the challenges Zen Cannabis faces in maintaining its market position amidst fluctuating ranks and sales, emphasizing the need for strategic marketing and product innovation to stay ahead in the Missouri edible cannabis market.
Notable Products
In April 2024, Zen Cannabis's top-selling product was the CBD/THC 4:1 Grape NiteNite Gummies 20-Pack (400mg CBD, 100mg THC) within the Edible category, maintaining its number one rank from the previous two months with a sales figure of 6977 units. Following closely, the Indica Fruit Punch Gummies 20-Pack (100mg) rose to the second position, marking a significant climb considering its absence in the rankings in March. The Hybrid Mini Assorted Flavor Gummies 25-Pack (250mg) secured the third spot, consistently holding a top-three position over the last three months. The Sativa Fruit Punch Gummies 10-Pack (100mg) made it to the fourth rank, showing a steady improvement from its previous positions. Lastly, the Sativa Mini Fruit Punch Gummies 25-Pack (250mg) rounded out the top five, indicating a fluctuating performance across the months but making a notable appearance in April's rankings.
Top Selling Cannabis Brands
