Market Insights Snapshot
In the edible category, Drops has shown a consistent performance in both California and Oregon. In California, the brand has remained within the top 20 brands for the past four months, despite a slight dip in ranking from 15th to 17th place between September and October 2023. This indicates a strong presence in the California edibles market. Meanwhile, in Oregon, Drops has maintained a top 3 ranking for the same period, showing an impressive standing in the Oregon edibles market.
However, the brand's performance in the Vapor Pens category in Oregon paints a different picture. Drops' ranking has been on a downward trend, slipping from 46th place in September to 59th place in October 2023. This suggests that the brand may be facing challenges in this particular category in Oregon. It's worth noting that the absence of a ranking number for the month implies that Drops was not among the top 20 brands in that state and category, which could be a point of concern. Despite this, Drops is still showing resilience in the market with its performance in other categories and states.
In the Oregon edible cannabis market, Drops has seen a slight decline in its position, moving from 2nd place in July 2023 to 3rd place in the following months. This shift in rank has been accompanied by a downward trend in sales, indicating a potential loss of market share. Drops' main competitors in this category include WYLD, which has consistently held the top spot, and Gron / Grön, which has moved up to 2nd place. Other notable competitors include Mule Extracts and Good Tide, both of which have maintained their 4th and 5th positions respectively. While Drops has seen a decrease in sales, its competitors have generally seen stable or increasing sales, suggesting a highly competitive market environment.
In October 2023, the top-performing product from Drops was Active - Lemon Jelly (100mg) with a sales figure of 20,064 units. This product maintained its top position from the previous month, recovering from a slight dip in rank in September. The second best-seller was Dreamy - Cherry Jelly (100mg), moving up one rank from the previous month. The third rank was taken by Heavy - CBD/THC 2:1 Blackberry Jellies 20-Pack (200mg CBD, 100mg THC), which dropped two ranks from its leading position in September. The fourth and fifth ranks were occupied by Chill - Watermelon Jellies (100mg) and Balanced - Lime Gummy 20-Pack (100mg) respectively, both maintaining their ranks from September.