Market Insights Snapshot
In the Tincture & Sublingual category, Lucky Turtle has shown a consistent performance in Colorado, maintaining its position within the top 20 brands over the period from July to October 2023. There was a slight dip in ranking in September, dropping to 19th, but the brand managed to bounce back to the 15th spot in October. This resilience suggests a loyal consumer base and effective marketing strategies. However, it's worth noting that the sales reduced significantly in August and September before rising again in October, indicating some volatility in this market.
On the other hand, the Vapor Pens category presents a different picture. Lucky Turtle's ranking in this category has been outside the top 20 in Colorado, indicating a tougher competition or perhaps a lesser focus from the brand on this product line. The ranking has been gradually declining, moving from 43rd in July to 49th in October. Meanwhile, in Washington, Lucky Turtle enjoys a stronger position in the Tincture & Sublingual category, consistently ranking within the top 11 brands. Interestingly, there is no ranking data for August, suggesting that the brand might not have been among the top 20 during this month. The sales data shows a positive trend, with a noticeable jump in October.
In the Vapor Pens category within Colorado, Lucky Turtle has been experiencing a downward trend, falling from rank 43 in July to 49 in October 2023. This indicates a decrease in market position relative to other brands. Notably, Concentrate Supply Co. has been maintaining a more stable rank, although it too has seen a slight drop from 37 to 47 over the same period. Plug Play, on the other hand, has shown a more volatile rank, fluctuating between 53 and 62, but ultimately improving to 52 by October. HRVST has seen a similar trend to Lucky Turtle, dropping from 45 to 53. Interestingly, Green Treets has shown a significant improvement, jumping from rank 87 to 48, suggesting a rapid growth in popularity. These shifts in rank indicate a competitive and dynamic market, with brands constantly vying for a larger share of the Vapor Pens category in Colorado.
In October 2023, the top-selling product from Lucky Turtle was the CBD/THC 1:1 CO2 Cartridge (Half Gram) from the Vapor Pens category, maintaining its position from the previous month with 270 units sold. Following closely was the Backcountry Go Full Spectrum Disposable (2g), also from the Vapor Pens category, securing the second position. The third highest-selling product was the City Chill Full Spectrum Disposable (2g), which improved its ranking from fourth in September to third in October. The Lake Breeze Full Spectrum Disposable (2g) came in fourth, while the Sativa Cartridge (1g), despite a drop from second in September to fourth in October, still managed to sell a notable 184 units. This analysis reveals a consistent demand for Vapor Pen products from Lucky Turtle.