Market Insights Snapshot
In the Illinois market, Pure Essentials has maintained a steady presence in the top 5 brands for Capsules, Tincture & Sublingual, and Topical categories. The brand consistently ranked 3rd in both the Capsules and Tincture & Sublingual categories from July to October 2023, indicating a strong customer preference and consistent product quality. However, there was a slight dip in the Topical category, moving from 4th to 5th place over the same period. It's worth noting that the Vapor Pens category did not make it into the top 20, indicating room for improvement.
Moving to the Michigan market, Pure Essentials shows a similar trend. It holds a strong 3rd place in the Capsules category from August to October 2023, showing an upward trend from the 4th position in July. In contrast, the brand's performance in the Topical category shows room for growth, with rankings in the late 20s and early 30s over the same period. The lack of data for other categories suggests that these products may not be in the top 20 for the Michigan market, indicating potential areas for expansion and growth.
In the Illinois cannabis market, specifically in the Capsules category, Pure Essentials has consistently maintained its position as the third top-selling brand from July to October 2023. It's noteworthy that despite this steady ranking, Pure Essentials has experienced a downward trend in sales over these months. The brand's main competitors, 1906, Avexia, The Botanist, and Remedi have also seen fluctuations in their sales. 1906 and Avexia, ranking first and second respectively, have significantly higher sales than Pure Essentials, while The Botanist and Remedi, ranked fourth and fifth, have lower sales. Interestingly, Remedi, despite having the lowest sales, moved up a rank in October 2023, indicating that rank isn't solely dependent on sales figures.
In October 2023, the top-performing product from Pure Essentials was the Sativa Momentum Capsules 10-Pack (100mg) with 2615 units sold. Following closely behind was the Relax Hybrid Chill Pill Capsule10-Pack (100mg) which climbed from the 5th position in September to the 2nd in October. The third best-selling product was the Indica Deep Sleep Night Capsules 10-Pack (100mg), despite a drop in sales from the previous month. The CBD/THC 1:1 Cherry Tincture (100mg CBD, 100mg THC) maintained its 4th position from the previous month, while the Cronuts #4 Capsules 10-Pack (100mg) dropped from the 3rd to the 5th position. These shifts in product rankings indicate a strong preference among consumers for the Sativa Momentum Capsules and a growing interest in the Relax Hybrid Chill Pill Capsule.