Market Insights Snapshot
In California, Ray's Lemonade has seen a downward trend in both sales and category ranking from July to October 2023. While the brand started at rank 29 in July, it slipped to rank 38 by October. This indicates that the brand has been facing stiff competition in the beverage category in this state. The sales figures also reflect this trend, with a significant drop noted from September to October. This could be an area of concern for the brand and may warrant a deeper investigation into the factors contributing to this decline.
Contrarily, in Ontario and Washington, Ray's Lemonade seems to be performing quite well. In Ontario, the brand has consistently been within the top 10 brands in the beverage category, maintaining a ranking between 6 and 9 from July to October. This is a positive sign, indicating that the brand is well-received in this market. In Washington, Ray's Lemonade has been holding the top spot in the category for the entire period. This dominance in the Washington market, coupled with consistent sales figures, showcases the brand's strong market position in this state.
In the Beverage category within the state of Washington, Ray's Lemonade has consistently held the top rank from July to October 2023, outperforming its competitors. Notably, Major and Green Revolution, while maintaining their 2nd and 3rd ranks respectively, have shown different sales trends. Major, despite a dip in August, has shown a steady increase in sales, closing the gap with Ray's Lemonade in October. On the other hand, Green Revolution, while maintaining steady sales, has not been able to significantly challenge Ray's Lemonade's dominance. These trends indicate a competitive market where Ray's Lemonade needs to continue innovating and engaging with their customers to maintain their lead.
In October 2023, Ray's Lemonade's top-performing product was 'Lil' Ray's - Pineapple Lemonade (100mg THC, 1.75oz)', reclaiming its top spot from 'Raspberry Lemonade (100mg)', which dropped to the third position. The 'Huckleberry Lemonade (100mg THC, 12oz)' moved up a rank to secure the second position. The 'Lil Rays - Strawberry Lemonade (100mg)' maintained its fourth position, while 'Lil' Ray's - Tiger's Blood Lemonade (100mg)' emerged in the top five after not ranking in September. The 'Lil' Ray's - Pineapple Lemonade' sold 15,481 units in October, showing a strong consumer preference for this product. These shifts in rankings indicate a dynamic market and changing consumer preferences.