Market Insights Snapshot
The cannabis brand Oh Hi has shown a consistent performance in the Beverage category in the state of Colorado. The brand maintained its position within the top 10 brands for four consecutive months, from July to October 2023. This consistent ranking signifies a steady demand for Oh Hi's products within the state. However, it's worth noting that while the brand has held its position in the rankings, the absence of any upward movement may indicate a need for strategies to boost market share.
When it comes to sales, Oh Hi experienced a fluctuation over the observed period. After an initial increase in sales from July to August 2023, there was a significant drop in September, followed by a recovery in October. This trend suggests a variability in the brand's sales performance that may be influenced by factors not immediately visible in the data shared. Despite this, the recovery in October is a positive sign, indicating that the brand's popularity and demand remain robust. However, without additional data, it's challenging to pinpoint the exact reasons behind these fluctuations.
In the Beverage category within Colorado, Oh Hi has maintained a consistent rank, fluctuating between 7th and 8th place from July to October 2023. This consistency, however, does not translate to sales, which show a slight dip in September before recovering in October. In comparison, Dixie Elixirs has seen a steady decline in both rank and sales over the same period, indicating a potential loss of market share. marQaha experienced a significant drop in rank in September, but managed to recover in October, while its sales have been consistently lower than Oh Hi's. Major has shown impressive growth, improving its rank and increasing its sales significantly, posing a strong competition to Oh Hi. Lastly, Bosky Labs has been closely trailing Oh Hi in terms of rank, but its sales have been lower, indicating a smaller market share.
In October 2023, Oh Hi's top-performing product was the Grapefruit Sparkling Seltzer (10mg), with sales reaching 991 units. This marks an improvement from its previous third-place position. The Pomegranate Sparkling Seltzer (10mg) was the second highest selling product, despite dropping from first place in previous months. The CBD/THC 1:1 Ginger Basil Limeade Sparkling Seltzer (5mg CBD, 5mg THC) also saw a decline in ranking, moving from first to third place over the course of four months. The Budtender's Reserve line maintained steady positions in the fourth and fifth ranks.