Market Insights Snapshot
Altered Alchemy, a cannabis brand operating in Oregon, has shown a mixed performance across different categories. In the Beverage category, the brand has demonstrated a positive trend, improving its ranking from 29th in August 2023 to 24th in November 2023. This upward movement, despite not breaking into the top 20, signifies a growing presence in the market. However, the Tincture & Sublingual category shows a relatively static performance, with the brand consistently ranking in the mid-20s over the same period.
On the other hand, Altered Alchemy has been a dominant force in the Concentrates category, consistently securing the top spot from August to November 2023. This is a clear indication of the brand's strength in this category. Conversely, in the Vapor Pens category, the brand has been struggling to improve its position, consistently ranking outside the top 20. Despite this, there has been a slight improvement in ranking over the months, moving from 35th in August to 30th in November 2023. This suggests a potential for growth in this category, although further analysis would be needed to fully understand the dynamics at play.
In the Concentrates category within the Oregon market, Altered Alchemy has consistently maintained its top position over the months of August to November 2023. Its closest competitor, Bobsled Extracts, has also held steady at the second rank, but with sales figures consistently lower than Altered Alchemy. Interestingly, despite the gap in sales, Bobsled Extracts has not shown a significant downward trend, indicating a stable customer base. On the other hand, White Label Extracts, ranking third, has shown a slight fluctuation in sales over these months. However, its sales have remained significantly lower than both Altered Alchemy and Bobsled Extracts. It's worth noting that the absence of other brands in the top ranks indicates that these three brands dominate the Concentrates category in Oregon.
In November 2023, Altered Alchemy's top-performing product was 'Blackscotti Cured Resin (1g)' from the Concentrates category, with a record-breaking sales figure of 3027 units. Following closely in second place was 'Kombucha Live Resin (1g)', also from the Concentrates category. The third, fourth, and fifth places were occupied by 'Blue Lobster Cured Resin (1g)', 'Melted Strawberries Live Resin (1g)', and 'Frosted Flakes Cured Resin (1g)' respectively. It's noteworthy that all these products weren't ranked in the previous months, indicating a significant surge in popularity and demand for Altered Alchemy's Concentrates in November. This sudden rise in ranking and sales suggests a successful marketing strategy or a shift in consumer preference towards these products.