Market Insights Snapshot
Fox Tales, a cannabis brand, has shown an interesting performance in the Massachusetts market. In the Concentrates category, the brand has managed to stay within the top 20 brands for the months of August to November 2023. It started off in August at the 15th position, slipped slightly to the 19th spot in September, but then bounced back to the 15th rank in October. November saw a significant improvement with the brand climbing to the 12th position. This upward trend, particularly the jump in November, suggests a growing preference for Fox Tales' concentrates among Massachusetts consumers.
However, the brand's performance in the Vapor Pens category in Massachusetts shows a different story. Fox Tales did not make it to the top 20 brands in this category from August to November 2023. The brand's ranking hovered around the 80th position, peaking at 79th in September and then gradually dropping to 87th in November. This indicates that while Fox Tales has a strong foothold in the concentrates market, it may need to revisit its strategy for vapor pens to improve its standing in this category.
In the Concentrates category within Massachusetts, Fox Tales has shown a notable resilience in the face of stiff competition. Despite a slight dip in ranking from 15th in August to 19th in September 2023, the brand managed to recover back to its initial 15th position in October, and even improved to 12th place in November. This is particularly impressive given the performance of its competitors. FloraCal Farms, for instance, has remained relatively stable in rank but has not shown the same upward trajectory. High Supply / Supply started off stronger, but has seen a gradual decline in rank over the months. Local Roots has shown a significant improvement, jumping from 20th to 10th place, while Haze Extracts has been fluctuating around the middle of the pack. In terms of sales, Fox Tales has demonstrated a consistent upward trend, suggesting a growing customer base and increasing market share, which is a positive sign for the brand's future prospects.
In November 2023, the top-performing product from Fox Tales was 'Full Pint Sugar (1g)', which climbed two spots from its October ranking, with a significant sales increase from 181 to 719 units. The second best-seller was 'Dying Dreaming Sugar Wax (1g)', debuting on the list. 'Citrus Cash Cake Sugar (1g)' dropped one spot to third place, despite an increase in sales from 203 to 389 units. 'Northern Jack Sugar Wax (1g)', previously unranked, entered the list at fourth place with 258 units sold. Lastly, 'Rainbow Cake Wax (1g)' made its first appearance on the list at fifth place with 178 units sold. These shifts illustrate a dynamic marketplace with changing consumer preferences.