Market Insights Snapshot
Starting with the performance of Magnitude in the Vapor Pens category, we see a consistent presence in the top 100 brands across multiple states. In Colorado, the brand has made steady progress, improving its ranking from 92 in August 2023 to 86 in November 2023. However, the absence of a ranking for Magnitude in Massachusetts until November 2023 indicates that it just recently broke into the top 100 in this state.
In Illinois, Magnitude has maintained a strong presence in the top 30 brands, despite a slight drop in ranking from 18 in August 2023 to 28 in November 2023. This could potentially indicate a highly competitive market in Illinois. On a brighter note, Magnitude has experienced significant growth in Maryland, jumping from 35th place in August 2023 to 16th place in November 2023. This impressive rise in ranking might be an indication of growing brand recognition and preference in the Maryland market.
In the Vapor Pens category in Maryland, Magnitude has shown a significant upward trend in its ranking from August to November 2023. Starting at a rank of 35 in August, it improved to 16 by November, surpassing several competitors. Notably, Beezle Extracts maintained a relatively steady position in the top 20, while Cookies experienced a slight drop in rank. Organic Remedies, despite not being in the top 20 in August, managed to climb to the 18th position by November. CULTA also remained a strong competitor, although it dropped slightly from 12th to 15th place. The sales trend for Magnitude also showed a significant increase, suggesting a growing market share in comparison to its competitors.
In November 2023, the top-performing product from Magnitude was the Super Lemon Haze Distillate Cartridge (1g) with a total sales figure of 2973 units, marking a significant rise from its third position in the previous three months. The Platinum Jack Live Terp Distillate Cartridge (1g) maintained a strong performance as well, securing the second position with 2796 units sold, despite a drop from its leading position in August and October. The Blueberry BDT Distillate Cartridge (1g) also witnessed a decline in ranking, slipping to third place in November from its top rank in September. The fourth and fifth positions were held by the Master Kush Distillate Cartridge (1g) and the Master Kush Live Terps Cartridge (1g) respectively. Notably, the Master Kush Distillate Cartridge (1g) saw a commendable increase in sales, moving up from fifth position in October to fourth in November.