Market Insights Snapshot
Starting with the performance of MKX Oil Company in the Massachusetts market, the brand has maintained a stable presence in the Edibles category, with rankings fluctuating slightly from 35th to 33rd place over the July to October period. This indicates a consistent demand for their edibles. An interesting trend is seen in the Vapor Pens category where the brand has seen a significant improvement, moving from the 16th position in July to a commendable 10th place in September. This hints at a growing preference for MKX's vapor pens among Massachusetts consumers.
Moving on to the Michigan market, MKX Oil Company has displayed a strong performance in the Edibles and Vapor Pens categories, consistently securing the 4th position from July to October. This shows a strong foothold in these categories. However, the brand's performance in the Concentrates category has seen a decline, dropping from 44th place in July to 62nd in October. This suggests a need for improvement in this category. The brand's performance in the Pre-Roll category is noteworthy, with the brand making a significant leap from not being in the top 20 in July to the 47th place in October, indicating a potential growth area.
In the Vapor Pens category within Michigan, MKX Oil Company has consistently maintained its rank at 4th place from July to October 2023. Notably, its closest competitor, Platinum Vape, has also held steady at 5th place, despite experiencing lower sales than MKX. On the other hand, Crude Boys and Drip (MI-Only), ranking 3rd and 2nd respectively, have generally seen higher sales than MKX, with Crude Boys even advancing to 2nd place in October. Interestingly, Sauce Essentials, initially ranking 9th in July, has shown a promising upward trend, climbing up to 6th place by October. This competitive landscape suggests that while MKX Oil Company has a stable position, there are dynamic shifts occurring among its competitors that could impact future rankings and sales.
In October 2023, the top-performing product from MKX Oil Company was the 'Blazin Blue Raspberry Xxtra Strength Gummies 10-Pack (200mg)', maintaining its top rank from previous months. This product sold 18,875 units in October. The 'Dragonfruit OG CDT Distillate Cartridge (1g)' took the second position, showing a notable entry into the rankings. The third spot was occupied by 'Juicy Watermelon Xxtra Strength Gummies 10-Pack (200mg)', which slipped down from its previous second rank. The new entrants in the ranking were 'Ganja Grape Gummies 10-Pack (200mg)' and 'Tangerine Dream Xxtra Strength Gummies 10-Pack (200mg)', securing the fourth and fifth positions respectively.