Market Insights Snapshot
In the cannabis market of Colorado, NOBO's performance across categories has been mixed. In the Flower category, there was an upward movement in ranking from 74th in August to 81st in November, indicating a slight improvement. However, the brand's ranking in the Pre-Roll category has been consistently slipping from 88th in August to not even making the top 20 in November. This could be seen as a concerning trend, indicating a decrease in the brand's popularity in this category within the state.
On the other hand, NOBO has been performing well in the Michigan market, especially in the Edible and Flower categories. It has maintained a steady ranking in the top 20 for both categories over the reported months, with a slight improvement in the Flower category from 10th in September to 8th in November. The Pre-Roll category also shows a stable performance, hovering around the mid-teens in ranking. However, the Vapor Pens category has seen a significant drop from 40th in August to 95th in November, indicating a potential area of improvement for the brand in this market.
In the Michigan Flower category, NOBO has shown a consistent performance, maintaining its position within the top 10 brands from August to November 2023. However, it's worth noting that NOBO's rank has fluctuated, peaking at 4th in August and dropping to 10th in September, before stabilizing at 8th in October and November. In comparison, Grown Rogue has demonstrated a significant improvement, climbing from 15th to 10th position over the same period. High Minded and Distro 10 have also shown strong performances, consistently ranking higher than NOBO. Interestingly, Simply Herb, despite starting strong at 3rd place in August, has seen a drop in rank, ending up at 9th in November. While NOBO's sales have remained relatively stable, most competitors have seen an upward trend in sales, indicating a more competitive market environment.
In November 2023, the top-performing product from NOBO was the Platinum Garlic Pre-Roll (1g), which climbed from third place in October to first, with a significant increase in sales to 34,603 units. The Berrien Cherry Pre-Roll (1g) slipped to second place after holding the top spot in September and October. Cherry Gummies (200mg) maintained a steady performance, securing the third position for the third consecutive month. Newly appearing in the ranking, Trop Cherry Pre-Roll (1g) entered directly at fourth place. Lastly, Green Apple Gummies 10-Pack (200mg) dropped to fifth place from its previous position of fourth in October.