Market Insights Snapshot
In the Colorado market, CannaPunch has shown consistent performance in the Beverage category, maintaining a steady position in the top 5 brands from July to October 2023. The brand saw a slight decrease in sales from July to September, but rebounded impressively in October with sales of 92,436. However, in the Edible category, CannaPunch struggled to break into the top 20, with its ranking fluctuating between 47 and 56. Despite a dip in sales in August and September, there was a noticeable increase in October, indicating a potential upward trend.
In contrast, CannaPunch's performance in the Nevada market presents a different picture. In the Beverage category, the brand's ranking slipped gradually from 12 in July to 15 in October, reflecting a steady decline in sales over the same period. Interestingly, while CannaPunch managed to secure a ranking in the Topical category in August, no ranking data is available for the other months, suggesting that the brand did not make it into the top 20. However, given the limited sales data available, it's difficult to draw definitive conclusions about the brand's overall performance in this category.
In the Colorado Beverage category, CannaPunch has maintained a consistent rank at 4th place from August to October 2023, showing a stable market position. However, it's worth noting that Dixie Elixirs dropped from 4th to 6th place during the same period, indicating a potential opportunity for CannaPunch to increase its market share. On the other hand, Ripple (formerly Stillwater Brands) and Dialed In Gummies have held their 2nd and 3rd ranks respectively, demonstrating strong competition. Interestingly, Major has improved its rank from 6th to 5th, indicating an upward trend. While CannaPunch's sales have fluctuated, they showed a significant increase in October 2023, suggesting a positive momentum for the brand.
In October 2023, the top-performing product from CannaPunch was the Pineapple Mango Drink (100mg) with an impressive sales figure of 1808 units. This product consistently held the top rank in previous months as well. The second best-performing product was the Hybrid Watermelon Nectar (100mg), climbing up from its previous fourth position in September. The Blue Raspberry Sour Punch Drink (100mg) dropped to third place in October from its consistent second position in the preceding months. The Watermelon Nectar Punch Drink (100mg) and Granddaddy Grape Lite Punch Drink (100mg) secured the fourth and fifth positions respectively.