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Oct-2023
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Overview
Market Insights Snapshot
Hemp by Tumbleweed, a cannabis brand based in Colorado, has shown steady growth in the Topical category over the past few months. In July 2023, the brand wasn't ranked within the top 20, however, by August 2023, it managed to secure the 22nd position, showing a promising upward trend. This progress continued into September 2023, where the brand moved up to the 20th position, and further advanced to the 19th position in October 2023. This consistent improvement in rankings indicates a positive growth trajectory for Hemp by Tumbleweed in the topical category.
When evaluating the brand's performance in terms of sales, there is an impressive surge observed in October 2023. While the sales figures for July 2023 aren't available, the brand managed to generate sales of 186.0 units in August 2023, which slightly increased to 204.0 units in September 2023. However, the sales skyrocketed to 1006.0 units in October 2023, marking a significant increase. This substantial growth in sales, coupled with the brand's consistent improvement in rankings, suggests that Hemp by Tumbleweed is gaining popularity and acceptance among consumers in the Colorado market.
Competitive Landscape
In the Topical category within Colorado, Hemp by Tumbleweed has shown a steady rise in rank from not being in the top 20 in July 2023, to 22nd in August, 20th in September, and finally 19th in October. This upward trend indicates a growing market presence, potentially driven by increasing sales, as suggested by the jump from September to October. Among its competitors, The Colorado Cannabis Co. has also shown consistent improvement in rank, while Conscious Medz has maintained a higher rank throughout the period. However, brands like Foria and Simply Pure have not consistently ranked in the top 20, indicating a less stable market position. Overall, the data suggests a positive trajectory for Hemp by Tumbleweed in the competitive landscape of Colorado's Topical cannabis market.
Notable Products
In October 2023, the top-performing product from Hemp by Tumbleweed was the CBD Rose Lip Balm (50mg CBD) belonging to the Topical category. This product maintained its first rank from August to October, demonstrating consistent high performance. Interestingly, the sales of this product saw a significant increase in October, with a total of 40 units sold. This is a substantial rise compared to the 7 and 8 units sold in August and September respectively. The continued dominance of the CBD Rose Lip Balm (50mg CBD) indicates a strong customer preference for this product.
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