Market Insights Snapshot
ABX / AbsoluteXtracts has shown some notable performances across different categories in the state of California. In the Capsules category, the brand has managed to maintain a steady presence within the top 5 rankings from August to November 2023. Although there was a slight dip in October, the brand bounced back in November, securing the 3rd position. In the Concentrates category, ABX / AbsoluteXtracts consistently positioned itself in the top 7, indicating a stable market presence. However, the brand's performance in the Edibles category was slightly lower, fluctuating around the 15th rank, which suggests room for growth in this category.
In the Tincture & Sublingual category, ABX / AbsoluteXtracts displayed a positive trajectory in California, improving its rank from 9th to 6th over the four-month period. This upward trend indicates a growing consumer preference for the brand in this category. In the Vapor Pens category, the brand made a significant leap from the 20th position to the 15th in November, suggesting an increase in popularity among vapers. However, the brand's performance in the state of Washington was not as impressive, with its rank in the Edibles category falling outside the top 20. This indicates a need for strategic efforts to improve market penetration in this state.
In the Vapor Pens category in California, ABX / AbsoluteXtracts has shown a positive trend, moving from the 20th rank in August 2023 to the 15th rank in November 2023. This upward movement indicates an increase in sales and a stronger market position. However, competition remains fierce. Buddies has seen a slight drop in rank, but still outperforms ABX / AbsoluteXtracts, holding the 16th position in November. Papa's Herb has made significant strides, moving from the 23rd rank to the 17th, indicating a substantial increase in sales. Sauce Essentials and Cruisers have maintained a consistent rank, with Cruisers showing a slight improvement, surpassing ABX / AbsoluteXtracts to hold the 13th rank in November. These shifts in rank suggest that while ABX / AbsoluteXtracts is improving, there is still significant competition in the California Vapor Pens market.
In November 2023, the top-selling product from ABX / AbsoluteXtracts was the Sleepytime- THC:CBN 2:1 Elderberry Gummies 20-Pack with sales reaching 7833 units. This product moved up from the second spot in the previous months. The second best-seller was the CBN/THC 2:5 Blueberry Lavender Sleepy Time Gummies 20-Pack, which saw a decrease in sales to 5381 units, dropping from its consistent first place ranking. The third spot was taken by Sleepy Time - THC:CBN 2:1 Grape Gummies 20-Pack, maintaining its position from October. Finally, the fourth and fifth best-selling products were from the Vapor Pens category, namely Refresh - Blue Dream CO2 Cartridge and the new entrant Jack Herer Full Spectrum Cartridge respectively.