Market Insights Snapshot
Starting with the performance of Bloom Farms in California, there's been a notable downward trend in the Concentrates category, with the brand breaking into the top 100 in October 2023 and maintaining this position in November. This is a positive indication, albeit, it would be more impressive if they were in the top 20. Meanwhile, in the Vapor Pens category, the brand has maintained a relatively steady position, fluctuating around the 50th to 60th rank over the past four months. The lack of a significant upward or downward movement suggests a stable customer base in this category.
Moving onto Bloom Farms' performance in Nevada and Washington, the dynamics are quite different. In Nevada, the brand has shown a significant improvement in the Vapor Pens category, climbing from the 86th rank in August 2023 to the 70th rank in November 2023. In the Concentrates category, the brand's ranking is somewhat inconsistent, but they managed to secure a place in the top 100 in November. In Washington, Bloom Farms is performing exceptionally well in the Tincture & Sublingual category, consistently ranking in the top 10 since September 2023. This indicates a strong presence in the market for this particular product category.
In the Vapor Pens category within the California market, Bloom Farms has experienced a fluctuating rank over the period from August to November 2023, indicating a volatile competitive landscape. In comparison to Flav, Bloom Farms had a slightly lower rank in August but managed to surpass them in October, only to fall behind again in November. Interestingly, Bloom Farms also saw a similar pattern with Platinum Vape, where it initially held a higher rank in August, fell behind in September, but managed to regain its position in October, only to drop again in November. In contrast, Care By Design consistently held a lower rank than Bloom Farms throughout the period, but managed to surpass Bloom Farms in November. A new entrant to the top 20 brands in September, Eighth Brother, Inc., has seen a steady rise in rank, surpassing Bloom Farms in November. These trends suggest a highly competitive market for Bloom Farms, with both established and emerging brands posing significant challenges.
In November 2023, the best-selling product from Bloom Farms was the 'Pineapple Express Live Resin Cartridge (1g)', maintaining its top position from the previous month with sales of 1564 units. The 'Maui Wowie Classic Live Resin Cartridge (1g)' dropped to second place, seeing a decrease in sales compared to October. The 'Skywalker Live Resin Cartridge (1g)' improved its ranking, moving up to the third spot from the fourth in October. Interestingly, the 'Pineapple Express Live Resin Disposable (0.5g)', which was not even in the top five in September, climbed to the fourth position in November. The 'Skywalker Distillate Stiiizy Disposable Pen (0.3g)' managed to hold onto its fifth place ranking from the previous month.