Market Insights Snapshot
In the Edibles category, Platinum Vape has shown a consistent performance in California, maintaining a rank in the top 100 from July to October 2023. However, it's worth noting that their ranking has improved from 100th in July to 86th in September and October, indicating a positive upward trend. In contrast, the brand has performed significantly better in Michigan, consistently ranking in the top 25. Despite a slight drop in ranking in October, their position in the market appears to be quite stable.
Turning our attention to Vapor Pens, Platinum Vape has demonstrated strong performance across multiple states. In Michigan and Missouri, the brand has consistently held a spot in the top 5 from July to October 2023. This is a significant achievement and speaks volumes about the brand's popularity in these markets. In California, their ranking has improved from 57th in July to 48th in October, a commendable upward movement. However, in Ontario, the brand's performance has been somewhat inconsistent, fluctuating within the 60-70 rank range. This might be an area where there is room for growth and improvement.
In the Vapor Pens category in Michigan, Platinum Vape consistently held the 5th rank from July to October 2023. While Platinum Vape maintained its position, some of its competitors experienced shifts in their rankings. Notably, STIIIZY dropped from 6th to 7th place, while Sauce Essentials improved its rank from 9th to 6th. Drip (MI-Only) and MKX Oil Company held higher ranks than Platinum Vape but showed a decrease in sales over the period. Despite the competitive market, Platinum Vape demonstrated a steady performance with a slight increase in sales, indicating a strong and stable presence in the Michigan Vapor Pens market.
In October 2023, Platinum Vape's top-performing product was the Grape Ape Distillate Terpene Cartridge (1g), which sold 9,419 units. The Hawaiian Kush Terp Distillate Cartridge (1g) and Maui Wowie Terp Distillate Cartridge (1g) took the second and third spots respectively. Notably, the Grape Ape Distillate Terpene Cartridge regained its top position after dropping to the fifth spot in September. The Afghan Purp Distillate Cartridge (1g) and Gods Gift Distillate Cartridge (1g) also entered the top five for the first time in October. Overall, the rankings show a dynamic market with significant month-to-month changes.