Market Insights Snapshot
Starting with Massachusetts, Bailey's Buds has shown a commendable performance in the Flower category, with a steady rise in the ranks from 42 in August to 22 in November. This improvement in rank has been accompanied by a significant increase in sales, indicating a growing market share in this category. However, the Concentrates category paints a different picture. Bailey's Buds struggled to break into the top 20, fluctuating between ranks 45 and 58. Despite this, there was a noticeable increase in sales from August to September, suggesting some potential for growth.
In the Pre-Roll category, Bailey's Buds maintained a strong presence in the top 10 throughout the period, with sales remaining fairly consistent. This suggests a stable and loyal customer base in Massachusetts for Bailey's Buds Pre-Rolls. On the other hand, the Vapor Pens category saw Bailey's Buds barely making it into the top 100 in October and November. The absence of ranking in August and September indicates that they were not in the top 20 brands, which could be a point of concern. However, the sales in October and November, albeit modest, might hint at an emerging presence in this category.
In the Flower category within Massachusetts, Bailey's Buds has seen a steady improvement in its rank over the months from August to November 2023, moving from 42nd to 22nd. This upward trend is reflected in their sales as well, which have increased consistently over the same period. However, they face stiff competition from brands like Cookies and Strane, which have also seen significant improvements in their ranks and sales. Interestingly, Nature's Heritage and Local Roots, despite having higher ranks initially, have seen a drop in their positions and sales over time. This could potentially indicate a shift in consumer preference towards brands like Bailey's Buds. However, it's important to note that these trends can change rapidly and it's crucial to keep an eye on the Massachusetts market for the latest developments.
In November 2023, Bailey's Buds top-performing product was the 'Blue Dream x Sour Jack Pre-Roll 5-Pack (2.5g)', maintaining its number one ranking from previous months and generating sales of 5253 units. The 'Liberty Haze Pre-Ground (7g)' flower climbed notably from rank 5 in October to rank 2 in November. Meanwhile, 'Anagrams 51 Pre Ground (7g)' emerged in the top three, not having appeared in the top five in the previous months. The 'Liberty Haze Pre-Roll 5-Pack (2.5g)' pre-roll slipped from rank 2 to rank 4, while the 'Blue Dream x Sour Jack (3.5g)' flower dropped to rank 5 from rank 3 in October. These changes indicate a shift in customer preference towards pre-ground flower products.