Market Insights Snapshot
In the Beverage category, marQaha has shown a stable performance in Colorado, maintaining a position within the top 10 brands from July to October 2023. However, there was a notable drop in sales from July to September, followed by a slight recovery in October. The ranking fluctuated from 7th in July, to 8th in August, then down to 12th in September, and back up to 8th in October. The Tincture & Sublingual category also saw marQaha consistently rank within the top 10 in Colorado, although there was a slight dip in sales in October.
Contrastingly, in the Tincture & Sublingual category in Michigan, marQaha did not rank within the top 20 in October, indicating a potential area for improvement. However, in Missouri, marQaha showed strong performance in the same category, consistently ranking within the top 6 over the four months. Despite a decrease in sales from September to October, the brand maintained its 5th place ranking. This suggests that marQaha's Tincture & Sublingual products are well-received in Missouri, even as the brand faces challenges in other markets.
In the Tincture & Sublingual category within Missouri, marQaha has maintained a steady presence, ranking 5th in recent months. However, it's worth noting that marQaha's sales have been trending downwards. Meanwhile, Vlasic Labs and Amend Cannabis have consistently outperformed marQaha, with Amend Cannabis even moving up to the 2nd rank in September 2023. True State, a direct competitor, has seen a significant drop in sales, moving down to the 6th rank in September and October 2023. Blue Arrow, although ranking lower than marQaha, has shown a slight increase in sales in October 2023. The competitive landscape in this category indicates a need for marQaha to strategize effectively to regain its sales momentum.
In October 2023, marQaha's top-selling product was the FlasQ - Fruit Punch (100mg) from the Beverage category, regaining its position from July with sales of 316 units. The Sativa Agave Tincture (100mg) from the Tincture & Sublingual category maintained a consistent performance, securing the second spot, despite dropping from the first position held in the previous three months. The third highest selling product was FlasQ! - Indica Sweet Peach Tea (100mg), another product from the Beverage category. The fourth and fifth positions were taken by newcomers to the top ranks: FlasQ - Hybrid Fruit Punch Blend (100mg) and CBD/THC 10:1 Power Entourage Oil tinQture (1000mg CBD, 100mg THC, 60ml) respectively, both entering the ranking in October.