Market Insights Snapshot
Retreats, a well-known cannabis brand, has made a significant mark in the Edible category, specifically in the state of Oregon. Looking at the data from August to November 2023, we can see a fluctuating performance. The brand ranked 19th in August, dropped to 24th in September, rose slightly to 22nd in October, and returned to its August position in November. It's important to note that the drop in September indicates that Retreats was not among the top 20 brands in the Edible category that month in Oregon, which could be seen as a point of concern. However, the subsequent rise in October and November shows a positive recovery trend.
Diving deeper into the sales data, there's a noticeable decrease in sales from August to September 2023, correlating with the drop in rankings. However, despite the lower ranking in October, sales slightly increased compared to September. This could suggest that while Retreats may not have been in the top 20 brands, it still managed to capture a loyal consumer base. The sales further increased in November, aligning with the improvement in ranking. This trend indicates that the brand is on a recovery path and is worth keeping an eye on for future performance.
In the Oregon edible category, Retreats has seen a fluctuating performance over the months of August to November 2023. In August, Retreats was ranked 19th, but fell to 24th in September, indicating a drop in sales. However, the brand managed to recover slightly in October and November, moving up to 22nd and 19th place respectively. In comparison, Journeyman and Chompd Edibles have consistently ranked higher than Retreats during this period, while Concrete Jungle has shown a similar performance. Interestingly, Feel Goods which was not in the top 20 in August, has seen a significant rise in rank and presumably sales, surpassing Retreats by November. This competitive landscape suggests that Retreats needs to bolster its strategies to improve its standing in the Oregon edible market.
In November 2023, Retreats' top-selling product was the 'Indica Gummies 10-Pack (100mg)', selling 1,362 units, maintaining its position as the top performer from previous months. The 'Sativa Gummies 10-Pack (100mg)' and 'Hybrid Gummies 10-Pack (100mg)' retained their respective second and third positions, with the Sativa Gummies seeing a slight decrease in sales compared to October. The 'Indica Gummies 10-Pack (50mg)' remained steady at the fourth position, while the 'CBD/THC 3:1 Gummies 10-Pack' rounded out the top five. This analysis reveals a consistent preference for 100mg gummies across the Retreats customer base. Interestingly, despite a drop in sales, none of the top products changed their rankings from the previous months.