Market Insights Snapshot
Liberty has been a popular cannabis brand, especially in the Tincture & Sublingual category. However, its performance has seen a downward trend in recent months. In Maryland, Liberty dropped from the 3rd rank in July 2023 to the 6th rank in both September and October 2023. This is indicative of increased competition and possibly changing consumer preferences. Notably, sales figures also declined over this period, with October sales being significantly lower than the preceding months.
It's important to note that despite the rank drop, Liberty remained within the top 10 brands in Maryland for the Tincture & Sublingual category, which suggests that it still holds a strong market position. The brand's consistent presence in the top rankings, even with the slight dip, indicates its resilience and continued relevance in the market. However, the declining sales trend may be a point of concern and warrants further investigation into the factors contributing to this change.
In the Tincture & Sublingual category in Maryland, Liberty has experienced a slight decline in rank over the period from July to October 2023, moving from 3rd to 6th place. This suggests a decrease in market competitiveness, which is supported by a downward trend in sales. Competitor Curio Wellness also saw a drop in rank, but not as steep, moving from 5th to 7th place. Interestingly, Doctor Solomon's fluctuated in rank during this period, but ended up in a higher position in October than they started in July, indicating a more volatile market presence. Healer, on the other hand, improved their rank from 7th to 5th place, suggesting an increase in market competitiveness. It's worth noting that while Liberty's sales have been decreasing, Healer's sales have been increasing, which could indicate a shift in consumer preference within this category.
In October 2023, Liberty's top-performing product was the Wedding Cake Pre-Roll (1g), maintaining its number one rank from previous months. It achieved notable sales figures, reaching a peak of 3103 units sold. The second-ranked product was La Baker Trim (28g), climbing up from its previous absence in the rankings. Florida Kush Smalls (14g) secured the third position, a slight drop from its previous fourth rank. The fourth and fifth places were taken by Burmese Mimosa (14g) and La Baker Smalls (14g) respectively, both experiencing a decline compared to the previous month.