Market Insights Snapshot
In Colorado, Olio has shown consistent performance in the Concentrates category, maintaining a rank of 23 for three consecutive months before finally breaking into the top 20 in November 2023. This upward trend is also reflected in their sales figures which saw a slight increase in the same period. However, their performance in the Edibles category has been less impressive, with Olio's ranking slipping from 36 in August to 45 in November. This drop in ranking is mirrored in their sales, which saw a significant decrease over the same timeline.
On the other hand, Olio's performance in the Massachusetts market has been varied. In the Concentrates category, the brand's ranking fluctuated between 66 and 78 from August to October, before settling at 71 in November. Interestingly, there is no available ranking for Olio in the Vapor Pens category for August, September, and November. This suggests that they did not make it into the top 20 brands in the state for these months. However, they did secure a rank of 93 in October, indicating some presence in this category.
In the Vapor Pens category in Colorado, Olio has seen a slight decrease in rank from August to November 2023, moving from 25th to 27th place. This suggests a mild downward trend in sales, as rank is often correlated with market performance. In comparison, competitor Binske has experienced a more volatile ranking, peaking at 17th place in October but dropping to 23rd in November, indicating a significant decrease in sales. Select, another competitor, has shown a consistent improvement in rank, moving from 41st to 29th place over the same period, suggesting a steady increase in sales. Classix has maintained a relatively stable rank, fluctuating slightly around the mid-30s, while Amber has improved its rank from 24th to 21st, hinting at a potential increase in sales. These trends provide valuable insights into the competitive landscape Olio is operating in, highlighting the need for strategic planning to improve market position.
In November 2023, Olio's top-performing product was the Premium Hybrid Live Rosin Cartridge (0.5g), maintaining its first place ranking since September. The Gas Tanker Live Rosin Cartridge (Half Gram) moved up to second place, showing improvement from its fourth place rank in September. The Hybrid 90&120 Premium Cold Cure Rosin Batter (1g) and Sativa Live Rosin Second Press Cartridge (0.5g) emerged in the top rankings, securing the third and fourth spots respectively. The Passion Fruit Rosin Gummies 10-Pack (100mg) slipped to fifth place, despite consistent performance in previous months. The sales figure for the top product, Premium Hybrid Live Rosin Cartridge (0.5g), was significantly high at 1127 units.