Market Insights Snapshot
In the Edible category, Colorado-based Maggie's Farm experienced a significant drop in ranking from July to September 2023. In July, they were ranked 18th, but by September, they had fallen to a rank of 67. This implies a decrease in their market presence within this category. Furthermore, they were not in the top 20 brands in October, indicating a continued decline. Despite this downward trend in the Edible category, it's important to note that the brand's performance in other categories presents a different story.
When we turn our attention to the Flower and Pre-Roll categories, Maggie's Farm shows a stronger performance. In the Flower category, they managed to secure the top spot in August 2023, after being ranked 4th in July. Although they slipped to 2nd place in the subsequent months, they remained in the top two, indicating a strong and consistent presence in this category. The Pre-Roll category, on the other hand, saw some fluctuations. From a high rank of 3rd in July, Maggie's Farm dropped to 14th place by September. Like in the Edible category, they were not among the top 20 brands in October. This suggests that while Maggie's Farm has a solid footing in the Flower category, there's room for improvement in their market strategy for Edibles and Pre-Rolls.
In the Flower category within Colorado, Maggie's Farm has shown a consistent performance, maintaining a position within the top four brands from July to October 2023. Despite a brief rise to the top spot in August, the brand has generally ranked second, indicating strong but not dominant sales. Its main competitors, Seed & Strain Cannabis Co., Cosmos, and Green Label Cannabis, have shown varying degrees of competition. Seed & Strain Cannabis Co. has consistently outperformed Maggie's Farm, maintaining the top rank in three out of the four months. Green Label Cannabis, while consistently ranking lower than Maggie's Farm, has shown a steady increase in sales, indicating a potential future threat. Meanwhile, Cosmos, despite a higher initial rank, has seen a drop in sales and rank over the period, suggesting a decrease in competitiveness.
In October 2023, the top-performing product from Maggie's Farm was 'Mac & Cheese (7g)', a flower category product, with a remarkable sales figure of 22,418 units. The second position was held by 'Guptilla Kush (3.5g)', also from the flower category, while 'Tangcicle (3.5g)' secured the third spot. 'Blue Chocolate (3.5g)' ranked fourth, and 'Pyrotechnics (3.5g)' maintained its fifth position from the previous month. The rankings for October showed a significant reshuffle from previous months, indicating a dynamic consumer preference.