Market Insights Snapshot
In the Washington cannabis market, Oleum Extracts (Oleum Labs) is showing a consistent performance in the Concentrates category. From July to October 2023, the brand maintained a top 10 position, ranking 5th in July and August, and 6th in September and October. This consistency is mirrored in their sales figures as well, with a slight dip in October. However, in the Pre-Roll category, the brand's ranking has shown significant fluctuations, ranging from 77th in July to a high of 49th in August, then dropping to 90th in October. This volatility might indicate a less stable market position in this category.
When it comes to the Vapor Pens category, Oleum Extracts (Oleum Labs) has shown a downward trend in the Washington market. The brand's ranking fell from 63rd in July to 68th in September. Notably, the brand did not make it to the top 20 in October, which is a significant drop that could be a cause for concern. This trend is also reflected in their sales, with a noticeable decline from August to September. The absence of data for October suggests a continuation of this downward trend. Overall, while Oleum Extracts (Oleum Labs) is holding its own in the Concentrates category, it appears to be facing challenges in the Pre-Roll and Vapor Pens categories.
In the Concentrates category within Washington, Oleum Extracts (Oleum Labs) has been consistently ranking among the top 6 brands from July to October 2023. However, it's noteworthy that Oleum has been facing stiff competition from brands like Sticky Frog, Snickle Fritz, Toasted Farms, and Ooowee. In particular, Ooowee has shown a significant upward trend in sales, surpassing Oleum in October 2023. On the other hand, Sticky Frog, despite a slight fluctuation in rank, has maintained a steady sales volume, closely competing with Oleum. Snickle Fritz and Toasted Farms have also demonstrated consistent performance, with Toasted Farms showing a gradual increase in rank over the months. These trends indicate a highly competitive market for Oleum, with potential shifts in consumer preference towards competitor brands.
In October 2023, the top-performing product from Oleum Extracts (Oleum Labs) was the 'Sugar Cone - Cherry Pie Infused Pre-Roll (1g)', securing the first rank with sales figures reaching 900 units. This product regained its leading position after dropping to the fifth rank in the previous month. The second, third, fourth, and fifth positions were occupied by 'Pineapple Express Honey Crystal (1g)', 'RS11 Honey Crystal (1g)', 'Wedding Cake Honey Crystal (1g)', and 'Sunset Sherbet Honey Crystal (1g)' respectively, all of which belong to the concentrates category. Notably, 'Pineapple Express Honey Crystal (1g)' sold 688 units, marking its strong performance in the market. This data indicates a significant preference for Oleum Extracts' pre-rolls and concentrates among consumers in October 2023.