Market Insights Snapshot
Emerald Bay Extracts, a prominent cannabis brand, has demonstrated a mixed performance in the California market. In the Capsules category, the brand has consistently ranked among the top 5 for the months of July, August, and September 2023. However, there was a slight dip in October, where they ranked 6th. It's worth noting that despite maintaining a high ranking, there has been a gradual decrease in sales over these four months. This could be indicative of increased competition in the market or shifting consumer preferences in this category.
On the other hand, Emerald Bay Extracts has shown significant improvement in the Concentrates category. Starting from a rank outside of the top 20 in July and August, the brand made a commendable leap to rank 33rd in September and further improved to 28th in October. This upward trajectory in rankings is mirrored by an increase in sales over the same period. However, given the brand's lower ranking in this category, there is still ample room for growth and market capture. The brand's performance in this category is certainly a space to watch in the coming months.
In the competitive landscape of the Capsules category in California, Emerald Bay Extracts has been consistently ranking in the top 6 brands from July to October 2023. However, there is a slight downward trend as it slipped from the 5th position in September to the 6th in October. This is in contrast to Buddies, which improved its rank from 6th to 5th over the same period. Meanwhile, brands like ABX / AbsoluteXtracts and Care By Design have maintained their ranks, but ABX / AbsoluteXtracts dropped a rank in October. Papa & Barkley has seen a fluctuation in ranks, moving from 7th to 8th position. In terms of sales, Emerald Bay Extracts has been experiencing a decrease, which might be a contributing factor to its drop in rank. This is a trend that is also observed in most of its competitors, except for Care By Design which has seen a slight increase in sales.
In October 2023, the top-performing product from Emerald Bay Extracts was the 'Mendo Crumble RSO Syringe (1g)' from the Concentrates category, with a notable sales figure of 1487 units. This product significantly climbed the ranks from being unranked in September to the top spot in October. The second-best selling product was the 'Watermelon Rancher RSO Tablets 10-Pack (1000mg)' from the Capsules category, moving up from the fourth position in September. The 'Biscotti RSO (1g)' also from the Concentrates category, dropped one place to the third position. The 'Glaciers RSO Tablets 10-Pack (1000mg)' and 'Blue Dream RSO (1g)', also saw a rise in sales, securing the fourth and fifth positions respectively.