Market Insights Snapshot
In the California market, Kings Garden has shown some interesting movements in the Concentrates category. The brand managed to maintain a consistent 20th rank in August and July 2023, down from a significantly higher 7th rank in June 2023. This drop in ranking, while not ideal, is an important point for potential investors or industry observers to note. By September 2023, the brand had managed to improve slightly to an 18th rank, showing some signs of recovery.
Looking at sales, there was a noticeable peak in June 2023, which coincided with their higher ranking. However, despite the drop in ranking in the following months, Kings Garden managed to keep sales relatively stable, with only minor fluctuations. For instance, sales in August 2023 were recorded at around $189,227, a slight decrease from the previous month's sales of $224,650 but still a respectable figure considering the competitive nature of the market. This resilience in sales despite changes in ranking could suggest a loyal customer base or effective marketing strategies, a valuable nugget of information for those interested in the brand's performance.
In the Concentrates category in California, Kings Garden has seen some fluctuations in its rank over the past few months. In June 2023, it held a strong position at rank 7, but by September, it had slipped to rank 18. This suggests a decrease in sales, which is further supported by the fact that Kings Garden's rank is consistently lower than some of its key competitors. For instance, Pacific Reserve consistently ranks higher, indicating stronger sales. Similarly, West Coast Trading Co. has also maintained a higher rank, although it too has seen a slight drop in rank from June to September. Interestingly, Creme De Canna and UP!, which were not in the top 20 brands in June, have risen in rank by September, suggesting an increase in their sales. This competitive landscape indicates that while Kings Garden is a strong player in the Concentrates category in California, it faces stiff competition from these brands.
In September 2023, Kings Garden's top-performing product was the Lemon Margie Batter (1g) from the Concentrates category, with sales reaching 1213 units. This product maintained its top position from the previous month. The second best-selling product was It's It Badder (1g), also in the Concentrates category, with 861 units sold. The third and fourth places were held by Lemon Cherry Gelato Sugar Wax (1g) and Kush Mintz Gelato Batter (1g), respectively. The only non-Concentrate product in the top five was Kings Cake (3.5g) from the Flower category, ranking fifth.