Market Insights Snapshot
In the edible category, Cheeba Chews has shown varied performance across different states. In Colorado, the brand has managed to maintain its position in the top 10, although there's a slight downward trend from rank 8 to rank 10 between August and November 2023. However, in Nevada, the brand's rank slipped from 21 in August to 25 in November. This might be an area of concern for the brand, as it indicates a decrease in market competitiveness.
On the other hand, Cheeba Chews' performance in Massachusetts and Missouri shows room for improvement. In Massachusetts, the brand fluctuated around the 30th rank, while in Missouri, the brand was not even in the top 20 in September. However, it's worth noting that the brand's rank improved from 55 in October to 43 in November in Missouri, indicating a possible upward trend. For California, the brand was not in the top 20 for the period under review. However, it's important to consider that California is a large and competitive market, and being ranked in the top 20 is a significant achievement.
In the Colorado Edible category, Cheeba Chews has been experiencing a slight decline in rank from August to November 2023, moving from 8th to 10th place. This is indicative of a challenging competitive landscape, with brands like Coda Signature and Hedy consistently ranking higher, and Joyibles and Rebel Edibles closely trailing behind. Notably, Coda Signature has been able to maintain a higher rank and has even seen a slight increase in rank over the same period. Meanwhile, Hedy has been steadily climbing the ranks, surpassing Cheeba Chews in November. On the other hand, Joyibles and Rebel Edibles have been fluctuating in ranks, but overall, they have been able to maintain their positions within the top 12. This competitive analysis suggests that Cheeba Chews may need to reevaluate its marketing strategies to regain its position and boost sales in the Colorado Edible market.
In November 2023, the top-performing product for Cheeba Chews was the 'CBN/THC 1:2 Sleepy Time Chocolate Taffy Chew 20-Pack (50mg CBN, 100mg THC)', maintaining its top position from previous months with sales of 3886 units. Following closely was the 'CBD/THC/CBG 1:1:1 Trifecta Be Happy Caramel Taffy (100mg CBD, 100mg THC, 100mg CBG)' in second place, despite a slight drop in sales. The 'Hybrid Caramel Taffy 10-Pack (100mg)' climbed to third place, overtaking the 'Indica Chocolate Taffy 10-Pack (100mg)' which fell to fifth place. Notably, the 'Sativa Chocolate Taffy 10-Pack (100mg)' saw a significant increase in sales, moving up to fourth place from fifth in October. This data shows a dynamic market with shifts in consumer preference within the Cheeba Chews product range.