Market Insights Snapshot
In the Massachusetts market, Heritage CBD's performance varies across different categories. In the Edible category, the brand has consistently ranked outside the top 20 from July to October 2023, indicating a need for improvement. Despite a slight dip in September, the brand's rank improved in October, moving up from 60th to 52nd place. It's worth noting that there was a significant increase in sales from July to August, suggesting a positive trend in consumer demand during that period.
On the other hand, in the Tincture & Sublingual and Topical categories, Heritage CBD showed a more competitive performance, consistently ranking within the top 20. In the Tincture & Sublingual category, Heritage CBD climbed from the 17th rank in July to the 14th in October. The Topical category also saw a similar upward trend, with the brand moving up from the 18th spot in July to the 14th in October. These rankings indicate a more robust standing in these categories within the Massachusetts market.
In the Massachusetts Edible category, Heritage CBD has been experiencing a competitive environment. Despite not making it to the top 20 brands in the specified months, Heritage CBD has shown a steady increase in rank from July to October 2023, surpassing brands like Marmas and Sticky Fish in October. In terms of sales, Heritage CBD has been performing better than Garcia Hand Picked and Sticky Fish in the later months. However, it still trails behind Bountiful Farms, which has been consistently higher in sales. This data suggests that while Heritage CBD is making progress, there is still room for growth and improvement in the competitive Massachusetts Edible market.
In October 2023, the top-performing product from Heritage CBD was the CBD/CBN/Melatonin 4:1 Sleep Hemp Extract Gummies 30-Pack (600mg CBD, 150mg CBN, 45mg Melatonin), maintaining its position as the top seller for four consecutive months. The CBD Calm Hemp Extract Gummies 30-Pack (750mg CBD) moved up one rank to the second position, overtaking the CBD Unflavored Tincture (300mg CBD), which dropped to the third spot. The CBD Anytime Gummies 30-Pack (750mg CBD) held steady at the fourth position, while the CBD Energy Orange Gummies 30-Pack (750mg CBD) entered the top five. Sales for the top product, the CBD/CBN/Melatonin 4:1 Sleep Hemp Extract Gummies, were notably high at 205 units sold. This analysis shows a dynamic market with shifting consumer preferences within Heritage CBD's product line.