Market Insights Snapshot
In the concentrates category, Bear Labs has been maintaining a strong presence in the California market, although with a slight downward trend in ranking. In August 2023, the brand held the 8th position, which it managed to sustain in September 2023. However, in the following months, Bear Labs saw a slight drop, moving to the 10th spot in October and further down to the 11th in November. This movement indicates a slight decrease in market competitiveness, although being within the top 20 brands suggests they still hold a significant market share.
When it comes to sales, Bear Labs experienced a gradual decrease over the observed period. The brand started with a robust sales figure in August 2023, which unfortunately declined month over month. However, it's important to note that despite this decrease, Bear Labs was still able to generate substantial revenue, indicating a strong customer base and demand for their products in the concentrates category. The brand's performance offers valuable insights into the competitive landscape of the cannabis industry in California.
In the California Concentrates category, Bear Labs has been experiencing a slight decline in its ranking from August to November 2023, moving from 8th to 11th place. This is in contrast to some of its competitors, such as Lime and WVY, which have seen improvements in their rankings over the same period. Paper Planes and Cream Of The Crop (COTC) have also seen changes in their rankings, with Paper Planes experiencing a slight drop and COTC moving up in the ranks. These shifts in the competitive landscape suggest that while Bear Labs remains a strong player in the market, it is facing increasing competition from brands that are gaining traction. It's worth noting that WVY was not in the top 20 brands in August, indicating a significant rise in popularity over the analyzed period.
In November 2023, Bear Labs' top-performing product was the Banana Cream Cake x Jealousy Live Resin Badder (1g), maintaining its position from October. It sold a remarkable 4,315 units, a significant increase from the previous month's 2,793 units. The Raspberry Punch Live Resin Budder (1g) ranked second, followed by the Grape Pie x WTC Live Resin Budder (1g) in third place. The Razzberries Live Resin Diamonds (1g) and Bud Booster THCa (1g) secured the fourth and fifth spots respectively. Notably, all these products were not in the top 5 in the previous months, indicating a shift in consumer preferences.