Market Insights Snapshot
Dr. Norm's, a well-regarded cannabis brand, has shown consistent performance in the edible category in California. Their ranking remained steady at 12th place from August to October 2023, after a slight improvement from 13th place in July 2023. However, it's worth noting that their sales have been on a gradual decline during these months, dropping from $477,159 in July to $397,487 in October. This could suggest increased competition or shifting consumer preferences in the market.
Despite the decrease in sales, maintaining a spot in the top 20 brands in such a competitive category is an achievement in itself. The lack of a ranking number for any month would indicate that they didn't make it in the top 20, which is not the case for Dr. Norm's. Their consistent ranking in the edible category in California, one of the largest and most competitive cannabis markets, indicates a strong brand presence and consumer loyalty. However, it would be interesting to see how they plan to address the downward sales trend in the coming months.
In the California Edibles market, Dr. Norm's has been maintaining a steady rank, holding the 12th position from August to October 2023. However, it's worth noting that despite its consistent ranking, Dr. Norm's has seen a slight decline in sales over this period. In contrast, its competitors have shown varying trends. Dixie Elixirs has been gradually climbing the ranks from 18th to 14th, with a corresponding increase in sales. STIIIZY, ranked just above Dr. Norm's, has also seen a slight increase in sales, while maintaining its rank. Emerald Sky and Clsics, both ranked higher than Dr. Norm's, have shown a stable rank and sales trend, with Emerald Sky consistently outperforming Dr. Norm's in sales. These trends indicate a highly competitive market where Dr. Norm's needs to strategize effectively to improve its sales performance.
In October 2023, Dr. Norm's top-performing product was the Hybrid Fruity Pebbles Crispy Rice Bar (100mg), maintaining its first-place ranking from previous months with a sales figure of 3609 units. The second most popular product was the Indica Snickerdoodle Gluten Free Cookie 10-Pack (100mg), which improved its ranking from third to second place, selling 2932 units. The Red Velvet Cookies 10-Pack (100mg) dropped from second to third place. The fourth-ranking product remained the Hybrid Chocolate Fudge Brownie (100mg). Notably, the Indica Nano Sleep - Elderberry Sleepwell Gummies 10-Pack (100mg) entered the top five for the first time in October.