Market Insights Snapshot
In California, CannaBiotix (CBX) has demonstrated strong performance in the Concentrates and Flower categories, consistently ranking in the top 10 from July to October 2023. Particularly impressive is their dominance in the Flower category, where they've held the number one spot for four consecutive months. Their performance in the Pre-Roll category also shows a promising upward trend, improving from a rank of 46 in July to 18 in October. However, the brand's performance in the Edible and Vapor Pens categories leaves room for improvement, with rankings of 88 and 70 respectively in July, and no appearance in the top 20 in the following months.
Outside of California, CannaBiotix (CBX) has also made its mark in the Nevada and Maryland markets. In Nevada, the brand shows potential in the Concentrates category, moving from a rank of 55 in July to 34 in October. However, their Vapor Pens category performance has been inconsistent, with a drop from 40th place in July to 56th in August, and no ranking data available for the subsequent months. In Maryland, CBX has made a notable entry into the Flower category, securing the 35th spot in October. This initial foothold could potentially signal a promising expansion into this market.
In the Flower category within California, CannaBiotix (CBX) has maintained a consistent top rank from July to October 2023, indicating a strong market presence and consumer preference. However, competition is fierce with brands like West Coast Cure and Pacific Stone closely trailing. West Coast Cure held the second position until October, when it slipped to third place, indicating a possible decline in its market share. Pacific Stone, on the other hand, showed an upward trend, moving from fourth to second place in October, suggesting an increase in its popularity and sales. These shifts among competitors could potentially affect CannaBiotix (CBX)'s future rankings and sales, despite its current leading position.
In October 2023, the top-performing product from CannaBiotix (CBX) was 'Cereal Milk (3.5g)', which maintained its number one rank from previous months with sales reaching 22,901 units. Following closely was 'Tropical Lemonade (3.5g)', securing the second rank with a notable improvement from its third position in September 2023. 'L'Orange (3.5g)' slipped to third place in October, after holding the second rank in the preceding two months. Interestingly, 'Blewtooth Pre-Roll (0.75g)' made its debut in the top rank in October, clinching the fourth position. 'Kush Mountain (3.5g)' also appeared in the top five for the first time in October, securing the fifth rank.