Market Insights Snapshot
Observing the performance of the cannabis brand LIT, we see a significant improvement in their rankings in the Flower category in several states. In Arizona, LIT rose from 64th place in August 2023 to 52nd in November 2023. The most notable growth was seen in Colorado and Massachusetts where LIT climbed from 46th and 54th places respectively in August 2023, to 17th and 15th places by November 2023. This steady rise in rankings indicates an increasing popularity and sale of LIT's Flower products in these states. However, in Nevada, LIT's ranking in the Flower category was not in the top 20 by November 2023, which suggests a need for improvement in this market.
In the Pre-Roll category, LIT's performance was somewhat inconsistent. In Colorado, the brand's ranking fluctuated, starting at 91st in August 2023, disappearing from the top 20 in September, reappearing at 74th in October, and again not making the top 20 in November. This pattern could indicate a volatile market for LIT's Pre-Roll products in Colorado. Similarly, in Massachusetts, LIT's ranking dropped from 79th in August to not being in the top 20 by November 2023. However, in the Concentrates category in Nevada, despite a slight increase in ranking from 49th to 63rd between August and November 2023, the brand managed to remain within the top 100, suggesting a stable presence in this market.
In the competitive landscape of the Flower category in Massachusetts, LIT has shown a significant upward trend in its ranking, moving from 54th in August 2023 to 15th by November 2023. This is a notable improvement, especially when compared to brands like Altitude East (Treatments Unlimited LLC) and Bountiful Farms, which have seen a less dramatic rise and a slight decline in ranks respectively. Aruna and Root & Bloom have also experienced fluctuations in their rankings, with Aruna dropping significantly from 6th to 20th in October 2023, and Root & Bloom maintaining a relatively stable position within the top 20. It's important to note that a missing rank indicates that the brand was not in the top 20 for that month. The sales trends for these brands also reflect these changes in rank, with LIT seeing a substantial increase in sales over this period, indicating a strong competitive position in the market.
In November 2023, the top-performing products from LIT were predominantly from the Flower category. The highest sales were recorded for Cake Mintz (3.5g) with a whopping 5455 units sold, earning it the top rank. WAP #27 (3.5g) and Afgoo (3.5g) followed in second and third place respectively. Lemon Cherry Gelato (3.5g), which was ranked fifth in August, improved its position to fourth in November. The fifth spot was taken by Mr. Bubble (7g), a new entrant in the top ranks for the month.