Market Insights Snapshot
In the California market, Bloom has shown a steady performance in the Vapor Pens category, maintaining a rank within the top 20 from July to October 2023. Specifically, Bloom held the 13th position for three consecutive months before slightly dropping to the 15th spot in October. However, their performance in the Concentrates category showed more fluctuation, with rankings varying from 73rd to 95th over the same period. Despite these rankings, Bloom managed to increase their sales in this category from July to October.
In contrast, Bloom's performance in the Colorado market showed a different trend. The brand did not appear in the top 20 in the Flower and Pre-Roll categories in July, but they managed to secure a position in the following months. Notably, their ranking in the Pre-Roll category improved from 83rd in August to 75th in September, before slightly dropping to 77th in October. Similarly, in the Illinois and Nevada markets, Bloom maintained a steady presence in the Vapor Pens category, consistently ranking within the top 20. This suggests a strong consumer preference for Bloom's Vapor Pens in these states.
In the Vapor Pens category within the California market, Bloom has been experiencing a downward trend in both rank and sales from July to October 2023. While Bloom consistently held the 13th rank in July, August, and September, it slipped to the 15th position in October. In comparison, Papa's Herb has been steadily climbing the ranks, moving from the 23rd position in July and August to 19th in September and finally 16th in October. PAX and Sauce Essentials have maintained a fairly stable position in the market, with PAX fluctuating slightly between the 17th and 18th ranks and Sauce Essentials holding steady at the 14th rank. Cruisers has shown a positive trend, improving its rank from 15th to 13th over the same period. These shifts in the competitive landscape indicate a need for Bloom to reassess its market strategy to regain its lost ground.
In October 2023, the top-performing product from Bloom was the Maui Wowie Live Resin Surf Disposable (0.5g), reclaiming its position from rank 4 in September. It recorded sales of 3126 units, the only sales figure disclosed in this summary. The second best seller was the Pineapple Express Live Resin Disposable (0.5g), making its debut in the rankings. The third position was taken by the Cereal Milk Live Resin Surf Disposable (0.5g), moving up from an unranked position in the previous month. The Gush Mintz Live Resin Surf Disposable (0.5g) dropped two positions to rank 4, and the Alien Jack Live Resin Disposable (0.5g) entered the list at rank 5.