Market Insights Snapshot
In the California market, Maven Genetics has shown consistent performance in the Flower category, maintaining a rank within the top 20 brands from July to October 2023. A slight dip was observed in the rankings from July (16th) to September (18th), however, the brand managed to regain its position in October, ranking 16th again. Despite this fluctuation, the sales have shown a slight downward trend over these months.
On the other hand, Maven Genetics' performance in the Pre-Roll and Vapor Pens categories in California has been less consistent. The brand did not make it into the top 20 in either category in any of the months observed. In the Pre-Roll category, the brand's ranking hovered around the 30th position, while in the Vapor Pens category, the ranking stayed around the 80th position. This suggests that there is room for growth and improvement in these categories for Maven Genetics.
In the California Flower category, Maven Genetics has seen a slight improvement in its rank from 18th in September 2023 to 16th in October 2023. However, it's worth noting that Maven Genetics' competitors have shown varying trends. Cream Of The Crop (COTC) has seen a steady decline in rank, while Lolo has also dropped in rank, indicating a potential opportunity for Maven Genetics. Conversely, Yada Yada and Allswell have made significant strides, with Allswell jumping from 27th to 14th over the same period. While Maven Genetics' sales have remained relatively stable, both Yada Yada and Allswell have seen a substantial increase in sales, suggesting that these brands could pose a significant threat to Maven Genetics in the future.
In October 2023, the top-performing product from Maven Genetics was the 'French Laundry Pre-Roll (1g)', with a record sale of 4174 units. It was followed closely by 'Blueberry Skittles Pre-Roll (1g)', which sold 3897 units. 'Ajo Blanco (3.5g)' from the Flower category ranked third, showing consistent performance, as it was also in the top 5 in August. The 'Blue Agape (3.5g)' and 'Key Lime Jack (3.5g)', both from the Flower category, secured the fourth and fifth places respectively. This represents a dynamic shift in consumer preferences compared to previous months, with Pre-Rolls emerging as the top category in October.