Market Insights Snapshot
In the Oregon market, Mule Extracts has shown a noteworthy performance across several categories. In the Beverage category, the brand has consistently moved up the ranks, ascending from a rank of 4 in July 2023 to 2 in October 2023. This upward trend indicates a growing consumer preference for the brand's cannabis-infused beverages. On the other hand, in the Concentrates category, Mule Extracts has slipped from a rank of 9 in July to 17 in October, suggesting a need for the brand to revitalize its strategy in this category.
The Edible category has seen Mule Extracts maintain a steady rank of 4 over the four-month period, indicating a consistent performance. In the Pre-Roll category, the brand has made significant strides, moving up from rank 28 in July to 19 in October. However, the Topical category saw a slight decline, with the brand falling from rank 18 in July to 23 in October. Lastly, in the Vapor Pens category, the brand's rank fluctuated, reaching its peak at 18 in September before dropping to 25 in October. These movements across categories highlight the dynamic nature of the cannabis market in Oregon and the need for brands like Mule Extracts to constantly adapt and innovate to maintain their market position.
In the Oregon edible market, Mule Extracts has consistently held the 4th rank from July to October 2023, indicating a stable market position. However, it's worth noting that Mule Extracts' sales have not significantly increased during this period, suggesting a potential growth plateau. In contrast, Gron / Grön and Drops have maintained the top two positions respectively, with Gron / Grön showing a consistent increase in sales. Good Tide and Smokiez Edibles are also key competitors, holding the 5th and 6th ranks respectively. Good Tide's sales have remained relatively stable, while Smokiez Edibles has shown a slight increase in sales over the period. The competitive landscape suggests that Mule Extracts may need to explore strategies to boost sales and improve its market position.
In October 2023, the top-performing product from Mule Extracts was the 'Mule Kicker - CBD/THC/CBG/CBN 1:1:1:1 Strawberry Lemonade Full Spectrum Gummies 10-Pack', with sales reaching up to 7690 units. Following closely in second place was the 'Mule Kicker - Raspberry Pomegranate Gummy' with a total of 7598 units sold. The 'Mule Kicker - Strawberry Gummy' ranked third, experiencing a slight dip in sales to 6917 units. Notably, the 'Mule Kicker - Kiwi Gummy' entered the top four for the first time with 5371 units sold. Meanwhile, the 'Mule Kicker - Peachy Gummy' maintained its fifth position, similar to the previous months.