Market Insights Snapshot
Phinest Cannabis, a California-based brand, has shown a significant fluctuation in its performance in the Cultivation category over the past few months. In June and May 2023, the brand was ranked 3rd, indicating a strong presence in the market. However, there was a noticeable dip in July, where it fell to the 11th position. Despite this, the brand managed to recover somewhat in August, climbing to the 7th rank. This suggests that while Phinest Cannabis has faced some challenges, it has demonstrated resilience and the ability to bounce back. The cause of these movements can be attributed to various factors which we will delve into in our premium content.
When we look at the sales data, we can see a directional trend that correlates with the ranking movement. In May and June, when the brand was in the top 3, the sales were significantly high, with June sales reaching a staggering 82,062 units. However, with the drop in ranking in July, sales also took a hit, dropping to a mere 125 units. Interestingly, despite improving their rank in August, the sales did not see a proportionate increase, with only 594 units sold. This could indicate a lag in sales response or other market factors at play. For a more detailed analysis, consider subscribing to our advanced insights.
In the cultivation category within California, Phinest Cannabis has seen some fluctuation in its ranking over the past few months. In May and June 2023, it held a strong position at rank 3, but slipped to rank 11 in July, before climbing back up to rank 7 in August. This indicates a somewhat volatile market position, with potential challenges from competitors such as Equilibrium Genetics and ZenLeaf Farms, who have consistently ranked in the top 10 during this period. Notably, Pacific Reserve was not in the top 20 in August and July, but previously held a higher rank than Phinest Cannabis in May and June. This suggests that while Phinest Cannabis has seen some drops in rank, it has managed to maintain a presence in the top 20, unlike some competitors. However, the consistent high ranking of brands like Equilibrium Genetics and ZenLeaf Farms could pose a threat to Phinest Cannabis's market position.
In August 2023, the top-performing product of Phinest Cannabis was the 'Kush Crasher Budder (1g)', a concentrate, with sales reaching 772 units. This product significantly improved its ranking from 4th place in July 2023. The 'Fresh Squeezed OG (3.5g)', a flower, secured the second position with 616 units sold. Notably, the 'Ze Chem Pre-Roll 5-Pack (3.5g)' dropped from first to third place. The 'Kush Crasher Pre-Roll 5-Pack (3.5g)' and 'Apples & Bananas Cured Resin Cartridge (1g)' rounded out the top five, maintaining their previous month's rankings.