Market Insights Snapshot
Looking at the performance of Punch Extracts / Punch Edibles in California, it's clear that the brand is performing consistently in the Concentrates category, maintaining a rank of 5th from July to October 2023. However, it's worth noting a slight decrease in sales in October compared to September, despite the steady ranking. The Edibles category tells a different story, with the brand's ranking slowly slipping from 16th to 19th over the same period. This downward movement is mirrored by a gradual decrease in sales.
In the Pre-Roll category, Punch Extracts / Punch Edibles has shown impressive upward movement, improving its ranking from 87th in July to 53rd in October. This improvement is reflected in the steady increase in sales over the same period. The Vapor Pens category, however, shows a slight downward trend, with the brand's ranking slipping from 22nd in July to 24th in October. This is accompanied by a decrease in sales, suggesting a need for the brand to reevaluate its strategy in this category.
In the California concentrates market, Punch Extracts / Punch Edibles has maintained a steady rank at 5th place from July to October 2023. While 710 Labs and West Coast Cure have consistently ranked higher, they have seen a slight decrease in their rankings over the same period. On the other hand, ABX / AbsoluteXtracts and CannaBiotix (CBX) have improved their rankings, albeit still ranking lower than Punch Extracts / Punch Edibles. In terms of sales, while specific numbers are not disclosed, it can be inferred that 710 Labs and West Coast Cure have higher sales than Punch Extracts / Punch Edibles, while ABX / AbsoluteXtracts and CannaBiotix (CBX) have lower sales. The overall trend suggests a highly competitive market with potential for rank changes in the future.
In October 2023, Punch Extracts / Punch Edibles saw 'Juice Ringz Live Rosin (1g)' from the Concentrates category as its top-performing product with sales reaching up to 3180 units. The 'Super Sour Diesel Distillate Cartridge (1g)' from the Vapor Pens category took the second spot, improving its rank from the previous months. The next three products, all from the Vapor Pens category, were 'Blue Dream Distillate Cartridge (1g)', 'Platinum OG Distillate Cartridge (1g)', and 'Magic Melon Distillate Cartridge (1g)', ranking third, fourth, and fifth respectively. It is notable that these products were not in the top ranks in the previous months, indicating a significant increase in their sales in October. This shift in rankings suggests a potential change in customer preferences towards Vapor Pens products.