Market Insights Snapshot
In the realm of concentrates, California-based brand Papa's Select has been maintaining a steady presence in the top 20 brands over the past few months. Despite a slight drop in rank from 16th in May and June 2023 to 18th in July and 17th in August 2023, the brand's resilience in this competitive category is noteworthy. However, it's worth mentioning that their sales have been on a downward trend, with August 2023 sales falling to 208,409 from May's high of 258,548. This trend could suggest a need for the brand to reevaluate their strategies in the concentrates sector to regain their earlier momentum.
On the other hand, Papa's Select has been struggling to make a mark in the Edibles category. Their rank fluctuated between 55th and 73rd over the same four-month period, which indicates they were not able to break into the top 20 brands in this category. Although they saw a significant rise in sales from 19,019 in July 2023 to 21,832 in August 2023, they are still far from the sales volume they achieved in the concentrates category. This could indicate a potential area of growth for Papa's Select, should they choose to focus more resources on their edibles line.
In the Concentrates category in California, Papa's Select has been consistently ranking within the top 20 brands, although it has seen a slight drop in rank from 16th in May and June 2023 to 18th in July and 17th in August. This indicates a potential decrease in market share, especially when compared to competitors like Nasha Extracts and Locals Only Concentrates, who have generally ranked higher during the same period. However, Papa's Select has been outperforming other competitors such as West Coast Trading Co. and Lime, who have consistently ranked lower. The absence of West Coast Trading Co. and Lime from the top 20 in June indicates a potential opportunity for Papa's Select to increase its market share. While specific sales numbers are not disclosed, the general trend suggests that Papa's Select has maintained steady sales, with potential for growth.
In August 2023, Papa's Select saw the Papaya Punch Live Rosin Sauce (1g) from the Concentrates category as its top-performing product with sales reaching 784 units. This product saw a significant improvement in ranking from June, where it was ranked third. The second best-seller was the Fatso Live Rosin Badder (1g), also from the Concentrates category, maintaining its position from July. The Gargoyle Melon Berry Live Rosin (1g) and the Berry Cream Smoothie Second Press Live Rosin Badder (1g) were also among the top five products, with the former ranking third. Interestingly, the Papaya Punch Ice Water Hash Gummies 10-Pack (100mg) from the Edible category, which was the top product in June, slipped to the fourth position in August.