Market Insights Snapshot
In the New York market, Noble Steed Farms has demonstrated a consistent upward trajectory in the Flower category throughout the fall of 2023. From a rank of 47 in September, the brand made a significant leap to 27 in October, and then further climbed to 15 in November. This movement signifies a strong positive trend for the brand in this category. However, it's worth noting that there was a slight dip in December, with the rank falling to 18. This could be attributed to various factors, such as increased competition or seasonal market fluctuations.
When we look at the sales figures, they correlate with the brand's ranking movement. The brand has shown a substantial increase in sales from September to November, mirroring its rise in the rankings. However, despite the drop in ranking in December, the sales figure for that month remained relatively high. This could suggest that while Noble Steed Farms may not have been among the top 15 brands in the Flower category in New York that month, it still maintained a strong market presence. It will be interesting to see if this trend continues into the new year and how the brand will perform in comparison to its competitors.
In the Flower category within New York, Noble Steed Farms has shown a significant upward trend in ranking and sales over the last quarter of 2023. Starting from a rank outside the top 20 in September, it rose dramatically to rank 18 by December. This growth has outpaced several competitors. For instance, Packwoods and Platinum Reserve both saw a decline in rank over the same period. Alchemy Pure, while initially ranking higher, also dropped significantly in rank. Only Tarot Tokes showed a similar upward trend, but Noble Steed Farms' rise was more pronounced. In terms of sales, Noble Steed Farms' growth rate was higher than all these competitors, indicating a strong market acceptance and potential for further growth.
In December 2023, the top-performing product from Noble Steed Farms was 'Mimosa (3.5g)', maintaining its top position from November. It had an impressive sales figure of 588 units, the highest for any product that month. The second best-selling product was 'Elon's Musk (3.5g)', which had previously held the top spot in October. New to the top five was 'Apple Fritter (28g)', which made a strong debut at the third position. 'Elon's Musk (28g)' and 'Mimosa (28g)' rounded out the top five, despite experiencing drops in their rankings from previous months.