Market Insights Snapshot
In the Edible category, Massachusetts based brand, Freshly Baked, has maintained a consistent presence in the top 20 brands over a four-month period from August to November 2023. However, there has been a slight fluctuation in their ranking, moving from 17th in August, dropping to 18th in September, rising to 15th in October, and then returning to the 17th spot in November. This fluctuation in ranking indicates a competitive market, but Freshly Baked has managed to maintain a strong position. The sales in this period have also displayed a similar pattern with a slight dip in September but recovering in the subsequent months.
When it comes to the Topical category, Freshly Baked has shown an impressive upward movement in the rankings. Starting from the 13th position in August, they've steadily climbed to the 10th spot by October, before slightly dropping to 11th in November. This is a positive trend, suggesting the brand's growing popularity in this segment. However, in the Vapor Pens category, the brand has not been able to secure a spot in the top 20, with rankings of 42nd and 59th in August and September respectively, and maintaining a 46th position in October and November. This indicates a need for improvement in this particular category.
In the edible category in Massachusetts, Freshly Baked has seen a slight improvement in rank from 17th in August 2023 to 15th in October 2023, but then slipped back to 17th in November 2023. This indicates a fluctuating market position, but they remain within the top 20 brands. Their main competitors include Mr. Moxey's, Select, and I Am Edible. Mr. Moxey's has seen a consistent decline in rank, indicating a potential opportunity for Freshly Baked to capture some of their market share. Select, on the other hand, has seen a significant drop in rank from 11th to 30th, but then bounced back to 15th, suggesting a volatile market position. I Am Edible has maintained a relatively stable rank, indicating a steady performance. A notable competitor outside the top 20 is Southie Adams, who has been improving in rank and could pose a threat if this trend continues.
In November 2023, the top-performing product from Freshly Baked was the Blueberry Lemonade Gummies 20-Pack (100mg) with an impressive sales figure of 1391 units. This product saw a significant rise in ranking, moving from 5th place in October to the top spot. The second highest selling product was the CBD/THC/CBG 1:1 Strawberry Gummies 20-Pack, which was not even in the top 5 the previous month. The Celestial Sleep Blueberry Gummies 20-Pack (100mg THC, 40mg CBN), which had held the top spot in October, slid down to 3rd place in November. The CBD/THC 1:1 Blackberry & Cream Gummies 20-Pack and THC/CBN 5:2 Celestial Sleep Black Cherry Gummies rounded out the top five, ranking 4th and 5th respectively.