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Jun-2024
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Overview
Market Insights Snapshot
Zen Cannabis has shown a varied performance across different states and categories over the past few months. In the California edibles market, the brand has demonstrated a steady climb, moving from 27th place in March 2024 to 24th place by June 2024. This upward trend indicates a growing presence and acceptance among consumers in the state. Conversely, in Massachusetts, Zen Cannabis experienced fluctuations, starting at 21st place in March, peaking at 17th in April, and then dropping to 23rd by June. This inconsistency suggests potential challenges in maintaining a stable market position in Massachusetts.
Missouri presents an interesting case for Zen Cannabis. In the edibles category, the brand has maintained a strong presence, consistently ranking within the top 10, although there has been a slight decline from 7th place in March to 9th place in June. However, Zen Cannabis has dominated the tincture and sublingual category, holding the number one spot consistently from March through June 2024. This dominance in Missouri's tincture and sublingual market highlights the brand's strength and potential for continued success in this particular category.
Competitive Landscape
In the competitive landscape of the Missouri edible cannabis market, Zen Cannabis has experienced notable fluctuations in rank and sales over recent months. Despite starting strong in March 2024 with a rank of 7th, Zen Cannabis saw a decline to 9th place by June 2024. This drop in rank coincides with a decrease in sales from $723,028 in March to $558,946 in June. Competitors such as Kosmik Brands and Honeybee have shown more stable or improving trends, with Kosmik Brands climbing from 9th to 7th place and Honeybee fluctuating but ultimately improving from 11th to 8th place. Additionally, Show Me and Illicit / Illicit Gardens have also posed significant competition, with Show Me dropping from 8th to 11th and Illicit / Illicit Gardens improving from 12th to 10th. These dynamics highlight the competitive pressure Zen Cannabis faces, emphasizing the need for strategic adjustments to regain and sustain higher market positioning.
Notable Products
In June 2024, the top-performing product for Zen Cannabis was CBD/THC 4:1 Grape NiteNite Gummies 20-Pack (400mg CBD, 100mg THC), maintaining its number one rank for the fourth consecutive month with sales of $7,440. Indica Fruit Punch Gummies 20-Pack (100mg) also held steady at the second position, showing a notable increase in sales to $6,771. The Sativa Fruit Punch Gummies 10-Pack (100mg) remained third, consistent with its May ranking. Hybrid Mini Assorted Flavor Gummies 25-Pack (250mg) improved to fourth place after dropping to fifth in May. A new entry, Sativa Mini Fruit Punch Gummies 25-Pack (250mg), debuted in fifth place.
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