Apr-2024
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Overview
Market Insights Snapshot
In Missouri, the cannabis brand CODES has shown a notable performance across different categories, indicating a strong presence and consumer preference within the state. Particularly in the Flower category, CODES has maintained a top-tier ranking, moving from the 6th position in January 2024 to the 2nd by February and maintaining this rank through April 2024. This upward trend is mirrored in their sales figures, which saw a significant jump from January's $2,756,172 to April's impressive $5,683,127. The brand's performance in the Pre-Roll category also reflects a positive trajectory, improving from 18th place in January to 5th by April, showcasing their ability to capture market share across different product lines. However, their Vapor Pens category tells a different story, with rankings hovering around the 29th position from January to March, before a slight improvement to 24th in April, indicating challenges in penetrating this segment as effectively as others.
Despite the mixed performance in the Vapor Pens category, CODES's overall presence in Missouri is robust, especially within the Flower and Pre-Roll categories. The significant ranking improvement in Pre-Rolls, moving from the 18th to the 5th position in just four months, alongside a substantial increase in sales, suggests a growing consumer preference for CODES's offerings in this segment. The Flower category remains their stronghold, with consistent second-place rankings from February to April, underscoring their dominance and the high demand for their flower products. The struggle in the Vapor Pens category, where they were not even in the top 30 brands at the start, yet showing gradual improvement, highlights an area for potential growth and expansion. These dynamics across categories underscore CODES's competitive positioning in Missouri's cannabis market, with clear strengths in Flower and Pre-Rolls and opportunities for improvement in Vapor Pens.
Competitive Landscape
In the competitive landscape of the cannabis flower category in Missouri, CODES has shown a remarkable upward trajectory in its rankings and sales, positioning itself as a formidable contender. Initially ranked 6th in January 2024, CODES impressively climbed to the 2nd position by February and maintained this rank through March and April. This rise is significant when compared to its competitors, such as Illicit / Illicit Gardens, which consistently held the top spot, and Vivid (MO), which remained in the 3rd position after CODES's ascent. Another notable competitor, Amaze Cannabis, fluctuated in the rankings but stayed within the top 4. CODES's sales growth, from being lower than these competitors in January to surpassing most by April, indicates a strong market presence and consumer preference shift towards CODES. This dynamic shift not only highlights CODES's increasing market share but also suggests a competitive edge that could influence future sales and rankings in Missouri's cannabis flower market.
Notable Products
In April 2024, CODES saw Lucinda Williams (3.5g) from the Flower category take the top spot in sales, marking a significant climb from its previous rank of second place in March, with sales figures reaching 18,255 units. Following closely, Tropicana Banana (3.5g), also in the Flower category, which had consistently held the number one spot from January to March, moved down to second place. Super Boof (3.5g) made an impressive entrance directly into the third rank without any prior appearance in the top rankings in the preceding months. Grape Gas (3.5g) maintained a steady performance, securing the fourth position, similar to its January ranking, indicating stable consumer demand. Lastly, Peach Crescendo (3.5g) entered the rankings at fifth place, rounding out the top five products for CODES in April, highlighting a diverse consumer preference within the Flower category.