Apr-2024
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Overview
Market Insights Snapshot
In the competitive cannabis markets across the United States, Fig Farms has shown a mixed but noteworthy performance in both the Flower and Pre-Roll categories, with particular emphasis on their operations in California and Illinois. In California, Fig Farms has maintained a strong presence in the Flower category, ranking within the top 20 from January to April 2024, peaking at 11th in January and experiencing slight fluctuations but ending at 15th in April. This indicates a robust market position despite a slight downward trend in rank, coupled with an initial sales figure in January 2024 of approximately 1.98 million dollars. However, their performance in the Pre-Roll category tells a different story, with rankings slipping from 51st in January to 67th in March, before slightly recovering to 58th in April, suggesting challenges in maintaining their market share within this category.
Conversely, in Arizona and Illinois, Fig Farms' performance in the Flower category has shown consistency, albeit with room for improvement. In Arizona, the brand struggled to break into the top 30, with rankings hovering around the high 30s from January to April 2024, which could be seen as an area for growth or a sign of a highly competitive market. Illinois presents a more stable scenario for Fig Farms, maintaining a mid-20s rank across the same period in the Flower category, which suggests a steady demand for their products. Interestingly, the brand's foray into the Illinois Pre-Roll market in February 2024 demonstrates potential, with a notable improvement from not being in the top 30 in January to ranking 34th in March, although no data is available for April. This mixed performance across states and categories highlights Fig Farms' strong points in Flower sales, particularly in California, while also pointing out areas where the brand could focus on growth and improvement, especially in the Pre-Roll category and markets outside California.
Competitive Landscape
In the competitive landscape of the California cannabis flower market, Fig Farms has experienced a fluctuating performance in terms of rankings over the recent months, moving from 11th in January to 15th by April 2024. This indicates a challenging environment, especially when compared to its competitors. Notably, Cam Premium Quality Cannabis has consistently outperformed Fig Farms, maintaining a higher rank and showcasing stronger sales, peaking at 8th place in the earlier months before settling at 13th by April. On the other hand, brands like UpNorth Humboldt and Glass House Farms (CA) have shown similar fluctuations but remained in close competition with Fig Farms, indicating a highly competitive segment. Wave Rider Nursery, despite starting outside the top 20, has made significant gains, ending up just two places behind Fig Farms by April. This dynamic shift underscores the volatile nature of the market and the need for brands like Fig Farms to innovate and adapt to maintain or improve their market position.
Notable Products
In Apr-2024, Fig Farms saw GMO Sherb (3.5g) as its top-selling product, with sales reaching 6530 units, marking a notable rise to the first rank from the third position in March. Following closely, Blue Face (3.5g) secured the second rank, maintaining a high performance despite a slight decrease in sales from the previous month. Animal Face (3.5g) climbed up two ranks to secure the third position, reflecting a resurgence in its popularity. Krypto Chronic #1 (3.5g), previously leading in March, experienced a slight dip, settling at the fourth rank in April. Lastly, Holy Moly (3.5g) managed to hold onto the fifth rank, demonstrating consistent demand among Fig Farms' offerings.