Market Insights Snapshot
8 Fold, a notable cannabis brand in Nevada, has been experiencing some intriguing movement across different product categories. In the Concentrates category, it's important to note that the brand didn't make it into the top 20 in October 2023, signifying a potential area for improvement. However, the brand has shown resilience by bouncing back in November with a rank of 65, despite a dip in sales compared to September. This suggests that while sales volume may have decreased, the brand's market position relative to other brands improved.
On the other hand, in the Tincture & Sublingual category, 8 Fold has consistently maintained a spot within the top 20 from August to November 2023, even achieving a high rank of 8 in October. This is a positive indicator of the brand's performance and popularity in this category within the Nevada market. However, the Vapor Pens category presents a different story. In this category, the brand had a rank of 78 in August 2023, and there's no available ranking data for the following months, indicating that it didn't make the top 20. This could suggest a need for the brand to strategize and boost its performance in this category.
In the Nevada Tincture & Sublingual category, 8 Fold has experienced significant fluctuations in rank and sales from August to November 2023. After a drop in rank from 14th to 20th between August and September, 8 Fold made a notable recovery in October, rising to 8th place, before settling at 10th in November. This recovery in rank was mirrored in sales, suggesting a strong correlation between the two metrics. In comparison, Mary's Medicinals and Experience Premium Cannabis (EPC) have seen a steady increase in rank, with EPC overtaking 8 Fold in November. City Trees and White Label have consistently ranked higher than 8 Fold, indicating a stronger market position. However, it's worth noting that 8 Fold's sales in October were higher than both these competitors, demonstrating potential for growth.
In November 2023, the top-selling product from 8 Fold was the Peppermint Tincture (800mg) with 129 units sold. This product has consistently ranked first in sales since October 2023, showing a strong preference among customers. The Blueberry Tincture (800mg) followed closely behind, ranking second in sales for November, despite not having a rank in September 2023. The third top-performing product was the Blood Orange Tincture (800mg), which dropped from second place in September to third in November. Notably, the CBD RSO Syringe (1g) dropped from first place in September to fourth in November, indicating a shift in customer preference.