Market Insights Snapshot
Starting with the performance of P3 in Illinois, the brand has shown a consistent presence in the top 20 brands for the Pre-Roll category. However, it's worth noting that there has been a slight downward trend in their ranking from September to December 2023, moving from 20th to 19th, dropping out of the top 20 in November, and then bouncing back to 19th in December. This movement indicates a need for strategic adjustments to maintain or improve their position. However, it's important to note that specific sales numbers have been generally declining during this period, which may be a cause for concern.
In contrast, the brand's performance in the Pre-Roll category in Maryland shows an upward trend. Although P3 was not among the top 20 brands in September and October 2023, it managed to secure the 22nd rank in November and climbed further to 20th position in December. This improvement in ranking, along with a significant increase in sales during the same period, is a positive sign of growing market acceptance in this region. However, it's important to keep an eye on these trends to see if they continue in the future.
In the Illinois Pre-Roll cannabis category, P3 has faced stiff competition from several brands. FloraCal Farms has shown a consistent presence in the top 20, with a slight improvement in rank from 22nd to 17th in the last quarter of 2023. 93 Boyz has also been a notable competitor, maintaining a higher rank than P3 for most of the period, although it dropped from 18th to 21st in November. Kaviar and Legacy Cannabis (IL) were not in the top 20 in September but improved their ranks by December. P3's rank fluctuated between 19th and 23rd, indicating a need for strategies to improve its competitive position. Sales trends for these brands were not disclosed, but the changes in rank suggest a dynamic and competitive market.
In December 2023, P3's top performing product was the Wilson We Need More Mangoes Infused Pre-Roll (1g) with a remarkable 2515 units sold. Following closely in second place was the Blueberry AK Limeade Infused Pre-Roll (1g) which climbed from rank 3 in November to rank 2 in December. The Loaded Banana Milkshake Infused Blunt (2g) was the third best seller, despite dropping a rank from the previous month. Fourth place was occupied by the Choco Berry Chuck Infused Pre-Roll (1g), which saw a decline in rank from 2nd in November. The Sour Meltdown Infused Blunt (2g) maintained its 5th rank from the previous months.