Market Insights Snapshot
In the edible category, Koala Edibles (fka Koala Bars) has shown significant performance variations across different states. In Arizona, the brand's ranking fluctuated between the 40th and 50th positions over the four-month period from July to October 2023, indicating a need for improvement to break into the top 20. However, in Colorado, Koala Edibles maintained a steady presence in the top 20, even improving its ranking from the 18th position in September to the 14th in October 2023, showcasing strong performance in this market.
On the other hand, the brand's performance in Nevada and Oregon was less impressive, with rankings consistently outside the top 20. In Nevada, the brand's ranking hovered around the 40th position, while in Oregon, it fluctuated between the 45th and 55th positions. Despite these lower rankings, it's worth noting that the brand still maintains a presence in these competitive markets, which could be leveraged for future growth opportunities.
In the Colorado edible market, Koala Edibles (fka Koala Bars) has been experiencing a fluctuating competitive landscape. In comparison to Dixie Elixirs, Koala Edibles has seen a consistent rise in rank from July to October 2023, while Dixie Elixirs' rank has dropped. However, Dixie Elixirs still maintains higher sales. On the other hand, Incredibles has maintained a steady rank but with lower sales than Koala Edibles. Mr. Moxey's showed a significant sales spike in September but dropped again in October, indicating a possible inconsistency in their performance. Interestingly, Smokiez Edibles, despite not being in the top 20 in July, has shown a steady rise in both rank and sales, surpassing Koala Edibles in October sales. This suggests a growing competition and a need for Koala Edibles to strategize effectively to maintain and improve its market position.
In October 2023, the top-performing product from Koala Edibles (fka Koala Bars) was the 'Cookies & Cream Kicked Up Chocolate Bar (100mg)' with sales reaching 3760 units, a significant increase from previous months. The 'Chocolate Turtle Bar 10-Pack (100mg)', which had consistently held the top rank in the preceding months, dropped to second place with 3473 units sold. 'Banana Pudding White Chocolate Bar (100mg)' maintained its steady performance, securing the third spot. The 'Smores Dark Chocolate Bar (100mg)', despite not being in the ranking in August, managed to climb up to the fourth rank. Finally, the 'Peanut Butter Crunch Rosin Chocolate (100mg)' made its debut in the top five, securing the fifth position.