Market Insights Snapshot
In the competitive cannabis market of Colorado, Doinks has shown a remarkable performance in the Pre-Roll category, climbing from a rank outside the top 20 in September to breaking into the top 10 by January 2024. This upward trajectory is underscored by a significant increase in sales from October 2023's $79,650 to $185,889 by January 2024, indicating a growing consumer preference for Doinks' Pre-Roll products in the state. However, their Vapor Pens category tells a different story, with the brand struggling to make a significant impact, moving from rank 87 in October 2023 to rank 69 in December 2023, and eventually falling out of the top 20 by January 2024. This contrasting performance highlights the brand's strengths and areas for improvement within Colorado's diverse cannabis market.
Meanwhile, in Michigan, Doinks' presence in the Pre-Roll category has been less consistent. The brand did not rank in the top 20 for October 2023, but made a notable entry at rank 63 in November 2023, suggesting a potential foothold in the Michigan market. However, the absence of further ranking information for December 2023 and January 2024 leaves room for speculation on whether Doinks has been able to maintain or improve its market position in Michigan. This inconsistency highlights the challenges faced by cannabis brands in establishing and sustaining their market presence across different states and categories, amidst fierce competition and varying consumer preferences.
In the competitive landscape of the Pre-Roll category in Colorado, Doinks has shown a notable upward trajectory in its rank and sales from October 2023 to January 2024, moving from not being in the top 20 to securing the 10th position. This improvement is significant when compared to its competitors. For instance, LoCol Love (TWG Limited) has maintained a stable presence in the top 10, indicating a strong hold in the market, yet Doinks is closing the gap. Similarly, Bloom County has fluctuated around Doinks' current position but hasn't shown the same growth momentum. Next1 Labs LLC, despite being higher in rank, saw a decrease in sales in January 2024, contrasting with Doinks' continuous increase. Cali-Blaze has been closely competing with Doinks, yet Doinks has managed to surpass it in rank and sales by January 2024. This data suggests that Doinks is on a rapid rise, potentially challenging even more established brands if it continues on its current trajectory.
In January 2024, Doinks saw Blueberry Distillate Infused Blunt (1g) leading its product sales within the Pre-Roll category, marking a significant sales figure of 2958 units. Following closely, Green Apple Infused Blunt (1g) secured the second position with an improved ranking from the previous month, indicating a strong consumer preference shift towards this flavor. Strawnana Distillate Infused Blunt (1g) came in third, showing a consistent performance albeit dropping one rank from December 2023. Notably, Wild Melon Distillate Infused Blunt (1g), which had been leading the sales in the preceding three months, experienced a decline, settling at the fourth rank in January 2024. The entry of Rocket Pop Infused Blunt (1g) into the top five underscores the dynamic nature of consumer preferences and the competitive landscape within Doinks' product offerings.