Market Insights Snapshot
In the Nevada market, the performance of Optimum Extracts in the Vapor Pens category showed a downward trend from July to October 2023. The brand was not among the top 20 in any of the months, with its rank fluctuating from 37th in July to 54th in October. This could be a point of concern for the brand, as it indicates a decrease in its market position. However, it's worth noting that there was a slight improvement in its rank in September, moving up to 35th.
Conversely, in the Washington market, Optimum Extracts maintained a stable position in the Vapor Pens category. The brand consistently ranked within the top 20, securing the 9th position in both July and August, and the 11th position in September and October. This demonstrates a strong and steady performance in the Washington market, a positive sign for the brand. However, there was a slight dip in sales in September, which warrants further analysis.
In the Vapor Pens category in Washington, Optimum Extracts has maintained a consistent position, ranking 9th in July and August 2023, and then slipping slightly to 11th in September and October. This slight dip in rank coincides with a decrease in sales. Notably, EZ Vape and The Farmers Market have both seen improvements in their rankings and sales over this period, with EZ Vape jumping from 16th to 10th place, and The Farmers Market moving from 19th to 12th. Plaid Jacket, although not in the top 20 in July, has made significant strides, reaching 13th place by October. Balance, a direct competitor, has consistently outperformed Optimum Extracts, maintaining a higher rank and sales throughout the period. These trends indicate a competitive and dynamic market, with several brands vying for the top positions.
In October 2023, the top-performing product from Optimum Extracts was the Georgia Peach MAC Distillate Cartridge (1g) from the Vapor Pens category, regaining its position from September. It sold 1076 units, the highest among all products. The second highest was the Blackberry Crumble Kush Distillate Cartridge (1g), which dropped from first place in September. The Alaskan Thunder Fuck Live Resin HTE Cartridge (1g) maintained its third position. Two new entrants in the top five were the Huckleberry Haze Distillate TID Cartridge (1g) and Strawberry Watermelon Kush Distillate Cartridge (1g), ranking fourth and fifth respectively.