Market Insights Snapshot
In Colorado, Nordic Goddess has maintained a steady performance in the Topical category, consistently ranking 5th from July to October 2023. Despite a slight dip in sales in August, the brand managed to bounce back in September with a noticeable increase in sales. However, the absence of a ranking number beyond the top 20 brands suggests that Nordic Goddess might not have performed as well in other categories within the state. This could be an area of opportunity for the brand to expand its market presence.
On the other hand, in Massachusetts and Nevada, Nordic Goddess has shown commendable performance, alternating between the 1st and 2nd ranks in the Topical category over the same period. Particularly in Nevada, the brand has consistently held the top spot, reflecting a strong preference for Nordic Goddess among consumers in this state. However, sales in Massachusetts have seen a downward trend from July to October, indicating a potential challenge for the brand in maintaining its market position in this state.
In the Topical category within Nevada, Nordic Goddess has consistently maintained its position as the top-selling brand. Despite facing competition from brands like INDO and Escape Artists, Nordic Goddess has managed to stay ahead in terms of sales. INDO, while showing a strong performance, has been unable to surpass Nordic Goddess and has fluctuated between the second and third rank. Escape Artists, on the other hand, has shown a similar pattern, swapping places with INDO but never reaching the top spot. It's noteworthy that while Nordic Goddess' sales dipped slightly in September 2023, it quickly rebounded in October, indicating a strong and loyal customer base. These trends suggest that Nordic Goddess has a significant lead over its competitors in the Nevada Topical category.
In October 2023, the top-performing product from Nordic Goddess was the CBD/THC 1:1 Therapeutic Body Balm (250mg CBD, 250mg THC, 2oz), maintaining its first place ranking from previous months with sales figures peaking at 2,574 units. The second best-selling product was the CBD/THC 1:1 Therapeutic Body Balm (500mg CBD, 500mg THC), also holding its rank from the previous months. A notable shift in rankings was observed with the CBD/THC 1:1 Cooling Therapeutic Body Balm (250mg CBD, 250mg THC, 2oz) moving up from the 5th to the 3rd spot. The CBG:CBD:THC Vibe 10X Body ( 2500mg CBG, 2500mg CBD, 250mg THC) followed closely at 4th place, improving its position from the previous month. The Body Balm (250mg) entered the ranking for the first time at the 5th position.