Market Insights Snapshot
In Arizona, Nectar Farms has consistently maintained a position within the top 20 brands across multiple categories. In the Concentrates category, the brand saw a slight fluctuation in its rankings, starting at 17 in August 2023, peaking at 14 in September, and then dropping to 19 by November. This movement suggests a slightly declining performance, which is further evidenced by a decrease in sales from September to November. In the Flower category, the brand remained fairly stable, maintaining a ranking of 17-19 over the four-month period. However, the sales in November were notably lower than the previous months.
On the other hand, Nectar Farms seems to be struggling in the Pre-Roll and Vapor Pens categories. In the Pre-Roll category, the brand fell out of the top 20 in October and November, indicating a significant decline. This downward trend is also reflected in the sales figures, with a noticeable drop from September to October. Similarly, in the Vapor Pens category, Nectar Farms didn't make it to the top 20 at all, with the rankings ranging from 33 to 48 over the four months. This suggests that the brand might need to focus more on these categories to improve its overall performance in the Arizona market.
In the Arizona flower market, Nectar Farms has maintained a relatively stable position, ranking between 17th and 19th from August to November 2023. However, it's worth noting that Nectar Farms has seen a decline in sales over this period, potentially indicating a need for strategic adjustments. Among its competitors, Old Pal has shown a similar trend in rankings but with a more significant fluctuation in sales. Grassroots, despite starting from a lower rank, has made a notable leap forward, moving up to 15th place by October 2023, accompanied by a substantial increase in sales. Abundant Organics has consistently outperformed Nectar Farms in terms of rank and sales, but has also seen a drop in both areas, especially in November 2023. Lastly, Item Nine Labs has been trailing behind Nectar Farms, but its sales have remained relatively steady. These trends provide valuable insights into the competitive landscape Nectar Farms is operating in.
In November 2023, Nectar Farms' top-performing product was the THC RSO Full Spectrum Syringe (1g), a product from the Concentrates category. This product has consistently held the top position since September 2023. The second highest-selling product was Peking Duck (3.5g) from the Flower category, improving its rank from the fourth position in the previous two months. Interestingly, GG #4 Pre-Roll (1g) and Miracle Mints (3.5g), both new entries in the top rank, shared the third and fourth positions respectively. The THC RSO Full Spectrum Syringe (1g) made a notable sales figure of 2678 units in November.