Market Insights Snapshot
Starting with the performance of Packwoods in the Flower and Pre-Roll categories in Arizona, we see a steady improvement in rankings. In the Flower category, the brand moved up from 65th place in July to 44th place in October, showing a significant upward trend. Similarly, in the Pre-Roll category, Packwoods improved from a rank of 38 in July to 35 in October. However, it's worth noting that the brand did not manage to break into the top 20 in either category.
Turning our attention to Colorado and Michigan, Packwoods' performance in the Vapor Pens category is noteworthy. In Colorado, the brand consistently ranked within the top 20, improving from 18th place in July to 9th place in October. In Michigan, the brand showed a significant improvement, jumping from 86th place in August to 24th place in September, although it slipped slightly to 37th place in October. Again, it's important to note that the brand did not consistently rank within the top 20 in Michigan.
In the Vapor Pens category in Colorado, Packwoods has shown a consistent performance, maintaining a position within the top 20 brands from July to October 2023. The brand saw an improvement in rank from 18th in July to 9th in October, indicating a positive trend. In comparison, EvoLab showed a similar trend initially, but dropped to 11th place in October. Craft / Craft 710 has shown a steady improvement, moving from 20th to 8th place. Spectra has consistently held a higher rank than Packwoods, but has seen a slight drop from 8th to 7th place. Lastly, Sano Gardens has fluctuated in rank, but managed to secure the 10th place in October. In terms of sales, all brands have shown an upward trend, but specific sales figures indicate that Packwoods' sales growth is not as high as some of its competitors.
In October 2023, the top-performing product from Packwoods was the Guava Bubblegum Live Resin Packspod Disposable (2g) from the Vapor Pens category, securing the first rank with a notable sales figure of 4749 units. Following closely was the Black Cherry Gelato Live Resin Packspod Disposable (2g), which jumped from an unranked position to second place. The Unicorn Sherbet Live Resin Packspod Disposable (2g) stood third, improving its rank from fourth in the previous month. The Snicker Bocker Live Resin Packspod Disposable (2g), despite a dip from first to fourth place, continued to perform well. Lastly, the fifth rank was held by the Jelly Dulce Live Resin Packspod Disposable (2g), which slipped two positions from the previous month.