Market Insights Snapshot
In California, 710 Labs has been a consistent performer in the Concentrates category, maintaining a top 3 ranking from July to October 2023. However, there was a slight dip in October, moving from 2nd to 3rd place. The brand's performance in the Edibles category has been less impressive, with a steady decline in rankings from 53rd in July to 75th in October. The Pre-Roll category showed some improvement, with the brand climbing from 87th place in July to 56th in October. In the Flower and Vapor Pens categories, the rankings remained relatively stable, hovering around the 50th to 60th positions.
Across other states, 710 Labs showed varied performance. In Colorado, the brand maintained a strong presence in the Concentrates category, despite a slight drop from 2nd to 7th place over the four months. The Edibles category rankings showed a downward trend, while the Flower category saw a spike in September but dropped significantly in October. In the Pre-Roll and Vapor Pens categories, the rankings remained fairly stable. In Michigan, 710 Labs held a steady place in the top 10 for Concentrates, while the Vapor Pens category saw a slight decline in rankings from 38th to 52nd place.
In the Concentrates category within the California market, 710 Labs has consistently held a strong position, ranking 2nd from July to September 2023, but slipping to 3rd place in October 2023. This shift in rank is indicative of the competitive landscape, particularly with the rise of STIIIZY which moved up from the 3rd to the 2nd spot in October. The top spot has been consistently held by Raw Garden, indicating a higher sales volume compared to 710 Labs. Other notable competitors include West Coast Cure and Punch Extracts / Punch Edibles, both maintaining their 4th and 5th ranks respectively. The sales trends for these brands suggest a dynamic and competitive market, with 710 Labs needing to strategize effectively to regain its higher ranking.
In October 2023, the best-selling products from 710 Labs were predominantly from their Flower category. The top performer was 'Cake Crasher (3.5g)' which made a comeback to the top spot from its second rank in August, with a notable sales figure of 2230 units. 'Donny Burger (3.5g)' also from the Flower category, maintained its position in the top two. Remarkably, 'Kayas Koffee #2 Persy Rosin (1g)' and 'Chem OG Mix 2nd Press Rosin (1g)' from the Concentrates category made their first appearance in the top five, ranking third and fourth respectively. 'Donny Burger Pre-Roll (1g)' from the Pre-Roll category, despite being the top-seller in August, dropped to the fifth position in October.