Market Insights Snapshot
In the Capsules category, Pure Tonic Concentrates has been performing consistently in the top 5 in Nevada from July to October 2023. The brand's ranking fluctuated slightly between the 3rd and 4th positions. A noteworthy trend is the significant increase in sales from August to September, indicating a growing consumer preference for the brand's capsule products in this period. However, the brand was unable to maintain this momentum into October, as sales dipped slightly.
On the other hand, the brand's performance in the Concentrates and Vapor Pens categories in Nevada was less impressive. In both categories, Pure Tonic Concentrates did not make it into the top 20 brands, with the rankings remaining stagnant or slightly worsening over the months. This is indicative of a tougher competitive landscape in these categories. In particular, the Vapor Pens category saw a drastic drop in sales in October, suggesting a potential shift in consumer preferences or market conditions.
In the Nevada concentrates market, Pure Tonic Concentrates has seen a relatively stable position in the top 40 brands over the period from July to October 2023. In comparison, Nature's Chemistry has seen a slight decrease in rank, while Green Life Productions and TRYKE have fluctuated more significantly. Interestingly, Vada started the period with a higher rank but has seen a substantial drop, indicating a possible decrease in market share. In terms of sales, Pure Tonic Concentrates has maintained a consistent performance, while its competitors have shown more variability. This could suggest a loyal customer base for Pure Tonic Concentrates. However, the brand's inability to improve its rank indicates a competitive market with strong contenders.
In October 2023, the top-performing product for Pure Tonic Concentrates was the 'CBD/THC 1:1 CanTabs Tablets 20-Pack (100mg CBD, 100mg THC)' from the Capsules category, maintaining its number one rank from the previous month with sales of 94 units. The 'Sativa CanTabs 20-Pack (100mg)', also in the Capsules category, held onto the second position, although it saw a slight decrease in sales from September. The 'Bio Jesus Badder (0.5g)' from the Concentrates category moved up one position to rank third, showing a consistent upward trend. The 'Indica CanTabs 20-Pack (100mg)', another Capsules category product, dropped to the fourth position, despite an increase in sales. Finally, the 'Hummingbird Cake Budder (0.5g)' from the Concentrates category entered the top five for the first time in October.