Market Insights Snapshot
In the beverage category, Cannavis Syrup has shown a consistent performance across different states. In California, the brand maintained its position in the top 20, ranking 15th in August 2023 and November 2023, with a slight improvement to 14th place in September and October. This consistency is mirrored in Colorado, where the brand oscillated between the 14th and 15th positions over the same period. However, it should be noted that the brand's sales in November 2023 were slightly lower than the previous months.
On the other hand, in Michigan, Cannavis Syrup showed a slight upward trend, improving its ranking from 17th in August 2023 to 15th in November 2023. Interestingly, despite a dip in ranking to 19th place in September, the brand managed to bounce back in the following months. However, the brand's performance in Oregon was not as strong, with it only ranking 33rd in September and not appearing in the top 20 in the other months. This indicates a need for improvement in this market.
In the California Beverage category, Cannavis Syrup has seen a fluctuation in rank over the period from August to November 2023, ranging from 15th to 14th and back to 15th. This suggests a steady but not stellar performance. Notably, CQ (Cannabis Quencher) consistently outranked Cannavis Syrup, maintaining the 13th position throughout the period. Sip Elixirs also showed a stronger performance, improving its rank from 16th to 14th. On the other hand, High Power and Kikoko showed a mixed performance, with High Power's rank fluctuating between 17th and 19th and Kikoko improving from 20th to 16th. The data suggests that while Cannavis Syrup is a solid contender in the market, it faces stiff competition from brands like CQ (Cannabis Quencher) and Sip Elixirs.
In November 2023, the top-performing product from Cannavis Syrup was the Pineapple Syrup (200mg), maintaining its number one rank from the previous month with a significant sales figure of 1379 units. The Watermelon Extra Strength Syrup 2-Pack (1000mg THC, 6.7oz) was the second highest selling product, despite dropping one rank from October. The third place was claimed by a new entrant, Strawguava Live Resin Syrup (250mg) with 295 units sold. The Mango Extra Strength Syrup 2-Pack (1000mg) consistently held the fourth rank over the past four months. Lastly, the Green Apple Extra Strength Syrup (1000mg THC, 4oz), which was second in October, dropped to the fifth position in November.