Market Insights Snapshot
In the Beverage category, the cannabis brand Olala has shown some interesting trends across different states. In California, Olala's ranking has slightly decreased from 31st to 30th place between July and October 2023. This indicates that the brand did not make it to the top 20 brands in the state for these months. Although it might seem like a negative trend, it's important to remember that the California market is highly competitive. The sales in California have also seen a general decline over the same period, with a slight increase in September.
On the other hand, in Washington, Olala has maintained a more stable position in the rankings, consistently staying within the top 20 brands from July to October 2023. This is a positive sign, showing that the brand has a solid presence in the Washington market. Sales in Washington, however, have shown some fluctuation over the months, with a significant decrease in August and September, followed by a recovery in October. This could be due to a variety of factors, which could be interesting to explore further.
In the California beverage category, Olala has been facing stiff competition from brands like Dixie Elixirs, Cookies, Proof, and Pamos. Over the period from July to October 2023, Olala's rank fluctuated slightly but remained outside the top 20, indicating a need for increased market penetration. In terms of sales, Olala experienced a downward trend, suggesting a potential loss of market share. Notably, Pamos consistently ranked higher and achieved significantly higher sales than Olala during this period, highlighting it as a key competitor. On the other hand, Proof showed a significant drop in sales over the same period, indicating a potential opportunity for Olala to capture a larger share of the market.
In October 2023, the top-performing product from Olala was the Orange Cream Infused Soda (100mg), maintaining its top position from previous months with a sales figure of 172 units. The Blue Raspberry Infused Soda (100mg) climbed the ranks to secure the second position, showing a significant improvement from its fourth position in August. The "CBD:THC 1:1 Orange Cream Soda (100mg CBD, 100mg THC)" made a comeback in the rankings, securing the third position after not being ranked in the previous two months. The Guava Soda (100mg) slipped to the fourth position from its previous third position in August, whereas the Mango Soda (100mg) dropped to the fifth position after being the second-best seller in September.