Market Insights Snapshot
In the Edible category, Do Drops has seen varied performance across different states. In Massachusetts, the brand has been fluctuating around the mid-30s in ranking, indicating a steady, yet not top-tier, presence in the market. However, their sales have experienced a slight downward trend from August to November 2023, which could be a point of concern. In contrast, Maryland shows a more positive scenario for Do Drops. The brand consistently ranks within the top 20 brands in the state, with a notable increase in sales from August to September 2023.
On the other hand, the brand's performance in Oregon is noticeably different. Do Drops ranks significantly lower in this state, hovering around the 70th position. This suggests a weaker market presence in Oregon compared to Massachusetts and Maryland. Interestingly, even though they rank lower, their sales have shown an upward trend from August to October 2023, hinting at potential growth opportunities in the state. It's important to note that these rankings and sales trends provide a snapshot of the brand's performance and may not fully capture the dynamics of the cannabis market.
In the Maryland edible cannabis market, Do Drops has seen a fluctuation in its ranking over the period from August to November 2023. Starting at 18th place in August, it rose to 15th in September, slipped back to 17th in October, and then dropped further to 18th in November. This suggests a slight downward trend in rank, despite a notable sales increase in September. In comparison, Beboe has shown a significant improvement in rank, moving from outside the top 20 in August to 16th in November, accompanied by a substantial increase in sales. Beezle Extracts and ROBHOTS have both seen a decrease in rank over the same period, with Beezle Extracts falling from 14th to 19th and ROBHOTS slipping from 15th to 17th. BITS, on the other hand, has remained relatively stable, moving from 19th to 20th place. These shifts in the competitive landscape suggest that Do Drops may need to reassess its market strategy to maintain its position in the Maryland edible cannabis market.
In November 2023, the top-performing product from Do Drops was the 'Watermelon Gummies 40-Pack (100mg)', leading the edible category with 1396 units sold. Following closely was the 'Sativa Flavors of Pride Gummies 40-Pack (100mg)', which ranked second after leading the sales in October. The 'CBD/THC 1:1 Peach Gummies 40-Pack' secured the third position, maintaining its consistent performance from the previous month. 'Sour Blue Raspberry Gummies 40-Pack (100mg)' dropped to the fourth rank, while 'Green Apple Gummies 40-Pack (100mg)' rounded out the top five. Notably, the 'Watermelon Gummies 40-Pack (100mg)' ascended from the fifth position in August to the top spot in November, demonstrating a significant sales growth.