Market Insights Snapshot
In the Beverage category, High Tide has managed to maintain a consistent presence in the top 20 brands in Massachusetts. The brand held the 9th position in August and September 2023, slipping slightly to 11th in October and November. While this slight dip in ranking might seem concerning, it's important to note that the brand has managed to stay within the top 20 amidst stiff competition. However, there has been a noticeable downward trend in sales from August to November, which could be a point of consideration for the brand.
On the other hand, High Tide's performance in the Flower category in Washington has been less consistent. The brand was not among the top 20 in August 2023, but it made a significant jump to the 80th position in September and continued to climb to 78th in October. However, in November, the brand slipped back to the 88th rank. Despite this fluctuation in rankings, the sales figures show an upward trend from August to October, before experiencing a slight drop in November. This suggests that while High Tide has room for improvement in this market, it is on an upward trajectory.
In the Flower category for Washington, High Tide has seen some fluctuation in its ranking over the past few months, moving from 96th in August to 80th in September, then slightly up to 78th in October, and back down to 88th in November. This suggests a level of volatility in their market position. In comparison, Smokey Point Productions (SPP) and From the Soil have shown a more consistent upward trend in their rankings, while Snickle Fritz has remained relatively stable. 2727 Marijuana has seen a significant drop in rank, indicating a potential loss of market share. Sales trends for these competitors suggest that High Tide's sales are lower than Smokey Point Productions (SPP) and 2727 Marijuana, but higher than From the Soil and Snickle Fritz. This data indicates that while High Tide has room to grow in this market, they are holding their own against some key competitors.
In November 2023, High Tide's top-performing product was the Classic Margarita Beverage (5mg THC, 12oz), maintaining its number one rank from the previous three months with sales reaching 2656 units. The second highest-selling product was the Watermelon Margarita Beverage (5mg THC, 12oz), which also held its ranking from the preceding months, selling 2362 units. The third place was held by the Diablo Spicy Margarita Beverage (5mg THC, 12oz), with 1889 units sold. The fourth spot was occupied by Pink Runtz (3.5g), a flower product, which climbed from the fifth rank in August to the fourth in November, selling 1292 units. A new entry to the top five was Gumi (3.5g), another flower product, which debuted in fifth place with 733 units sold.