Market Insights Snapshot
In the Beverage category, Drink Loud's performance varies across states. In California, the brand experienced a decline in rankings from July to October 2023, moving from 20th to 24th position. This could indicate increased competition or a decrease in consumer preference for the brand in this market. Meanwhile, in Massachusetts, Drink Loud was not in the top 20 brands in July and August, but made a significant leap to 29th in September and further improved to 17th in October. This suggests a growing market presence in Massachusetts.
Contrastingly, in Missouri and Nevada, Drink Loud maintained a steady 2nd place ranking from July to October 2023. Despite the consistency in rankings, there was a noticeable downward trend in sales over this period in both states. In Missouri, sales dropped from 161,241 in July to 89,955 in October, while in Nevada, sales seemed more stable, with only a slight decrease from 80,379 in September to 78,690 in October. These trends could be indicative of overall market dynamics or specific challenges facing the brand in these regions.
In the Missouri beverage category, Drink Loud has consistently maintained the second rank from July to October 2023. However, it's worth noting that their sales have been on a downward trend during this period. Their closest competitor, Keef Cola, has consistently held the top rank, indicating a higher sales volume. On the other hand, Select and James' have been trailing behind Drink Loud, ranking third and fourth respectively. Select has shown a slight increase in sales over the period, while James' sales have been declining, similar to Drink Loud. This competitive landscape suggests that while Drink Loud is a strong player in the market, it may need to strategize to reverse its declining sales trend and fend off rising competitors like Select.
In October 2023, the product rankings from Drink Loud showed a shift in consumer preferences. The Chill - Kush Berry Shot (100mg) emerged as the top-performing product, overtaking the Lifted - Maui Blast Potion Shot (100mg), which dropped to second place. The Cruise - Pink Lemonade Potion Shot (100mg) maintained its third-place position, while the Spark - Cucumber Haze Potion Shot (100mg) remained at the fourth spot. Notably, the Chill - Kush Berry Shot (100mg) sold 4871 units in October, reflecting its popularity among consumers. These changes in product rankings indicate a dynamic market and evolving consumer tastes.