Market Insights Snapshot
In the Flower category, Onyx Label has shown a steady performance in the state of Colorado. Throughout the period from July to October 2023, the brand has maintained its position in the top 10 brands, indicating consistency in its market presence. However, there was a slight dip in its ranking in September 2023, when it dropped to the 8th position from the 7th. This drop, although minor, suggests a slight decrease in its competitive edge for that month. Notably, Onyx Label managed to bounce back in October, climbing to the 6th rank, signifying a strong recovery.
Looking at sales, it's interesting to note that despite the fluctuation in ranking, Onyx Label's sales have shown a general upward trend over the four-month period. The sales for July and August were relatively stable, with a minor decrease in August. However, a significant increase in sales was observed in October, with the figure reaching over 1.2 million. This upward trend in sales, coupled with the recovery in ranking, suggests that Onyx Label is gaining momentum in the Colorado market. It would be interesting to keep an eye on this brand to see if it can sustain this growth in the coming months.
In the Flower category within Colorado, Onyx Label has shown a consistent presence in the top 10 brands, with a slight improvement in rank from 7th in July and August to 6th in October 2023. The brand's sales have also shown a steady upward trend, indicating a positive market reception. However, competition is fierce. Good Chemistry Nurseries has maintained a strong hold on the top 5, despite a slight dip in sales in October. Cosmos, another competitor, has also stayed in the top 5, with sales that generally outpace Onyx Label. Classix has remained close behind Onyx Label in rank, with a slight increase in sales in September. The most notable competitor is Triple Seven, which jumped from being outside the top 20 in July to 7th place in October, with a corresponding surge in sales. This dynamic market landscape suggests that Onyx Label needs to continue innovating to maintain and improve its position.
In October 2023, Onyx Label's top-performing product was White 99 (3.5g) from the Flower category, maintaining its rank from the previous month and generating the highest sales of 6717 units. Lavender Jones (3.5g), another Flower category product, took the second spot, improving its position from the previous month. The third spot was secured by Garlicane Popcorn (3.5g), which climbed two spots from its September ranking. Training Day (3.5g) dropped two positions to the fourth spot, while Glueball (3.5g) slipped from the first rank in September to the fifth in October. This shift in rankings indicates a dynamic consumer preference within the Flower category products of Onyx Label.