Market Insights Snapshot
Examining the performance of Drip Oils + Extracts in the Arizona market reveals some interesting trends. In the Concentrates category, the brand has consistently maintained a position within the top 10, despite a slight dip in ranking from 4th in September to 7th in October. In contrast, the brand's position in the Edibles category has been less stable, falling from 38th in October to 55th in November. This could suggest a need for improvement in this category. The brand's performance in the Tincture & Sublingual category has been outstanding, holding the 1st position consistently over the months. The brand's performance in the Vapor Pens category has been steady, maintaining a position within the top 10.
When we turn our attention to Drip Oils + Extracts' performance in the Michigan market, we see a different picture. The brand is only represented in the Vapor Pens category, where it has shown a consistent performance, improving its ranking from 34th in August to 29th in October, before a slight drop to 31st in November. The brand's sales trend in this category has been on an upward trajectory, suggesting increasing popularity among consumers in this market. However, the brand's absence from the top 20 in other categories in this market might be an area to explore for potential growth.
In the Vapor Pens category in Arizona, Drip Oils + Extracts has been facing stiff competition from several brands. Flav has maintained a steady rank in the top 10, while Papa's Herb has shown a significant improvement, climbing from rank 16 to 8. Dime Industries has consistently ranked higher than Drip Oils + Extracts, while Mr. Honey Extracts has shown a remarkable rise from rank 20 to 9, before settling at rank 11. In terms of sales, all these brands have shown an upward trend, with Papa's Herb showing the most significant increase. Drip Oils + Extracts, on the other hand, has seen a decline in sales over the same period, indicating a need for strategic changes to regain its market position.
In November 2023, the top-performing product from Drip Oils + Extracts was the 'Sunset Sherbert Distillate Cartridge (1g)' with sales reaching 3405 units. Following closely in second place was the 'High THC RSO (1g)' that managed to sell 3393 units, maintaining its consistent high performance from previous months. The 'Platinum OG Distillate Cartridge (1g)' secured the third spot, while the 'Cherry Cookies Distillate Cartridge (1g)', a regular top performer, slipped to the fourth position. The 'Do-Si-Dos Distillate Cartridge (1g)' rounded out the top five. It is noteworthy that the rankings experienced significant shifts from the previous months, reflecting the dynamic nature of consumer preferences.