Market Insights Snapshot
In the Edible category, Binske's performance varied across states. For instance, in California, Binske's ranking fell from 34th to 43rd between July and October 2023. This indicates a decrease in market competitiveness, despite a slight rebound in sales from August to September. However, in Colorado, Binske maintained a consistent ranking in the top 20, indicating a stable market presence. In contrast, Binske's performance in the Nevada market showed improvement, moving from no ranking in July and August to 44th in October. Finally, in Washington, Binske maintained a steady presence in the top 25, indicating consistent performance.
Looking at the Pre-Roll category, Binske's performance in California showed a significant drop in ranking from 48th in September to 64th in October, indicating a decrease in market competitiveness. However, in Colorado, Binske demonstrated a strong presence, maintaining a ranking in the top 20 until October, when it slipped to 17th. In Nevada, Binske experienced a slight drop in ranking from 90th to 95th between September and October. In the Concentrates category, Binske showed a significant jump in Michigan, moving from no ranking in July and August to 79th in October. Meanwhile, in the Vapor Pens category, Binske maintained a consistent presence in the top 65 in Nevada.
In the Vapor Pens category in Colorado, Binske has shown a steady improvement in rank from July to October 2023, moving from 21st to 19th. This indicates that they were able to break into the top 20 brands by September. However, their competitors have shown varied performances. Natty Rems has consistently ranked higher than Binske, but their rank has slightly deteriorated over the same period. Goldwater Extracts started off with a lower rank but has shown a significant improvement, surpassing Binske by October. Amber, despite a dip in rank in August, has maintained a higher rank than Binske. Lastly, Edun started off with a higher rank but has seen a consistent drop, ending up just one rank above Binske by October. In terms of sales, all competitors have shown higher sales than Binske, with Natty Rems and Edun starting off with significantly higher sales. However, Goldwater Extracts has shown a remarkable increase in sales, surpassing Binske by October.
In October 2023, the top-performing product from Binske was the Sativa Live Resin Cartridge (1g) with 2518 units sold. Following closely behind in second place was the Mixed Berry Gummies 10-Pack (100mg), maintaining a strong performance from the previous month. The CBD/THC 1:1 Watermelon Fruit De Pate Gummies 10-Pack (100mg CBD, 100mg THC) ranked third, showing a steady climb from its fifth-place ranking in August. The Blackberry Lemon Gummies 10-Pack (100mg) dropped to fourth place from its second-place ranking in September. Rounding out the top five was the Indica Rosin Infused Pre-Roll (1g), which had previously held the top spot in September.