Market Insights Snapshot
In the state of Colorado, Conscious Medz has been showing a steady upward trend across multiple categories. Within the Edible category, the brand has improved its ranking from 60th in July 2023 to 48th in October 2023, indicating a positive growth trajectory. The sales figures also reflect this upward momentum, with a significant increase observed over the four months. However, it's important to note that the brand still hasn't made it into the top 20 in this category.
On the other hand, Conscious Medz has been consistently performing well in the Tincture & Sublingual category, maintaining a ranking within the top 10 throughout the period. The brand's position improved from 10th in July to 7th in October 2023. This strong performance is reflected in the sales figures, with a notable surge in October. In the Topical category, the brand has also shown consistency, maintaining a position in the top 20. However, the sales in this category are significantly lower compared to the other two categories, indicating a potential area for growth and expansion.
In the Tincture & Sublingual category within Colorado, Conscious Medz has shown a steady improvement in rank over the period from July to October 2023, moving from 10th to 7th place. This upward trajectory indicates a positive trend in market positioning, despite stiff competition. Notably, marQaha and Ripple (formerly Stillwater Brands) have shown fluctuating ranks within the top 10 during the same period, with marQaha ending in a lower position than it started. Aliviar and Care Division have consistently held higher ranks, but Care Division notably dropped from 2nd to 6th place in October. Conscious Medz's sales have also shown a significant increase in October, suggesting a growing consumer preference for the brand. However, it's worth noting that all competitors mentioned have had higher sales, indicating a more established presence in the market.
In October 2023, the top-performing product from Conscious Medz was the Salted Caramel Chocolate Bar (100mg) from the Edibles category, with a notable sales figure of 265 units. This product moved up from the second position in September 2023 to become the best-seller. The second best-selling product was the THC/CBG 9:1 Purple OG Kush Tincture (100mg THC, 12mg CBG), which maintained its third rank from the previous month. The Indica Peanut Butter Fudge Chocolate Bar (100mg), also from the Edibles category, dropped to third place in October after holding the top spot from July to September. The Spicy Muscle Rub (100mg) from the Topical category reappeared in the top five, securing the fifth position.