Market Insights Snapshot
In the Tincture & Sublingual category, the cannabis brand Dr. May has shown a steady performance in California. The brand maintained its position within the top 20 from July to October 2023, showing a slight improvement in ranking from 18th in July to 16th by October. This could indicate a growing preference for Dr. May's products in this category, despite a slight dip in sales in October compared to the previous months. However, the absence of a ranking beyond the top 20 in any given month suggests that there is still room for growth and improvement for the brand within this category.
On the other hand, Dr. May's performance in the Topical category in California shows a more fluctuating trend. The brand remained in the top 20 throughout the period, peaking at 10th place in September, only to drop to 13th place in October. This drop in ranking coincides with a significant decrease in sales for the month of October, down from $35,153 in September to $23,007. While this could be viewed as a setback, it's important to note that the brand still ranks within the top 20, suggesting a solid presence in the market despite the fluctuations.
In the Tincture & Sublingual category within the California market, Dr. May has shown a consistent performance, maintaining its position within the top 20 brands from July to October 2023. However, it's noteworthy that Dr. May has been outperformed by competitors such as Super Wow and Habit, both of which have consistently ranked higher and achieved greater sales. In contrast, Heavy Hitters and Ole'4 Fingers have fluctuated in their rankings, but have generally remained below Dr. May. Despite this, Ole'4 Fingers has shown a promising upward trend, surpassing Dr. May in sales by October 2023. This competitive landscape suggests that while Dr. May has a stable position, there is significant competition and potential for growth within this category.
In October 2023, the top-performing product from Dr. May was the 'CBD/THC 1:1 Balance Pro Balm' with 208 units sold, maintaining its top spot from previous months. The 'CBD/THC 1:20 Relax Twist Up Balm' came in second, improving its ranking from third place in August 2023. The third best-selling product was the 'CBD:THC 1:1 Balance 1000 Formula With Coconut Oil Tincture', which moved up a spot from its fourth place in September 2023. The 'CBD:THC 1:20 Relax 1000 Formula Tincture' dropped to fourth place after being third in the previous month. Finally, the 'CBD:THC 20:1 Focus 350 Tincture' entered the top five in October, having not been ranked in the previous months.