Market Insights Snapshot
In the Oregon market, the performance of Peak Extracts has shown fluctuations across various categories. In the Edibles category, the brand saw a slight improvement in its ranking from 43 in September to 38 in October 2023, although it's worth noting that these rankings are outside the top 20. This could indicate a need for targeted efforts to improve their market position in this category. On the other hand, in the Topicals category, Peak Extracts has consistently maintained a position within the top 10, with a slight dip to 8th place in October from 7th in the preceding months. This suggests a stronger performance and consumer preference in the Topicals category.
However, in the Tincture & Sublingual category, Peak Extracts' ranking has seen a slight decline, moving from 21 in July and August to 26 in September and October 2023. Again, these rankings fall outside the top 20, hinting at potential areas of improvement. Despite these varying performances, the brand has demonstrated resilience in maintaining its presence in the competitive cannabis market of Oregon. It will be interesting to observe how Peak Extracts navigates these dynamics in the coming months, and whether they can leverage their strength in the Topicals category to bolster their overall market position.
In the Oregon edible cannabis market, Peak Extracts has shown a steady competitive performance against its rivals. Despite not making it to the top 20 brands in July and August 2023, Peak Extracts managed to climb up the ranks in September and October, outperforming Honu and Dirty Arm Farm in October. However, it's worth noting that SugarTop Buddery, which only appeared in the top 20 in September and October, surpassed Peak Extracts in rank during those months. Meanwhile, Tao Gardens consistently ranked higher than Peak Extracts throughout the period. In terms of sales, Peak Extracts experienced a dip in August and September but saw a significant increase in October, indicating a potential upward trend in the longer term.
In October 2023, the top-performing product from Peak Extracts was the Lemon Sour Diesel Dark Chocolate Bar (100mg), maintaining its rank from the previous month with sales reaching 207 units. The second best-selling product was the Blue Dream Vegan Dark Chocolate Bar (100mg), moving up to the second position from its unranked status in September. The CBD/THC 2:1 Rescue Rub (100mg CBD, 50mg THC, 1oz) dropped to the third rank, despite a slight increase in sales to 89 units from 65 units in September. The Cherry Chemdawg Vegan Dark Chocolate Bar (100mg) moved up to the fourth rank, while the Apricot Cookies Chocolate Bar (100mg) dropped to the fifth position. This analysis indicates a strong preference for edibles in the Peak Extracts product range, with a notable increase in sales for the top product.