Market Insights Snapshot
In the Concentrates category, Arizona has seen HOLOH consistently perform well from July to October 2023. The brand has made a steady climb in the rankings, moving from 13th place in July to 11th place in October. This upward movement in the rankings is a positive sign, indicating that HOLOH is gaining ground in this competitive category. It's also worth noting that the absence of any ranking drop during these months suggests a stable demand for HOLOH's concentrates in Arizona.
On the sales front, HOLOH has seen a significant increase from July to August, with sales jumping from approximately 133,613 to 175,476. From August onwards, however, sales have seen a slight dip, but have remained relatively stable around the 170,000 mark. While the slight decrease in sales might seem concerning, the fact that HOLOH has managed to maintain its sales at a high level and improve its ranking over these months is an encouraging sign. This suggests that the brand has a solid customer base in Arizona that continues to choose HOLOH's concentrates despite the competitive market.
In the Concentrates category within the Arizona market, HOLOH has been showing a steady upward trend, improving its rank month over month from July to October 2023. In comparison to its competitors, HOLOH surpassed IO Extracts in August and maintained a higher rank through October. Although Drip Oils + Extracts and Mozey Extracts held higher ranks in July, they have been experiencing a downward trend, with HOLOH closing the gap significantly by October. Item Nine Labs, on the other hand, has been fluctuating in rank, but ended up lower than HOLOH in October. This suggests that HOLOH has been outperforming these competitors in terms of sales growth, despite starting from a lower rank in July.
In October 2023, the top-performing product from HOLOH was the Pineapple Express Badder (1g) from the Concentrates category, maintaining its position from the previous three months. The product achieved sales of 807 units. The second best-seller was a new entry, Mango Mints Live Badder (1g), also from the Concentrates category, which sold 742 units. The third, fourth, and fifth positions were also occupied by new entries: Grape Pie Gelato Live Resin Badder (1g), Jenny Kush Live Badder (1g), and Frosted Donuts Cured Badder (1g) respectively. This shows a significant shift in consumer preferences within the Concentrates category from previous months.