Market Insights Snapshot
Revel, a prominent cannabis brand, has seen varied performance across different categories and states. In the Concentrates category within Ohio, Revel experienced a significant leap in ranking, moving from 21st place in July 2023 to 9th in August 2023. However, their ranking slipped back to 21st in September and slightly improved to 19th in October. This fluctuation indicates a level of inconsistency in their performance in this category, despite an impressive sales increase from $33,866 in July to $58,752 in August.
In the Flower and Vapor Pens categories, Revel's performance in Ohio was less impressive, with the brand failing to break into the top 20. In the Flower category, the brand consistently ranked in the upper 40s from July to October 2023. Similarly, in the Vapor Pens category, Revel's ranking worsened from 27th in July to 60th in September, before slightly improving to 48th in October. These rankings suggest that Revel may need to enhance their strategies in these categories to improve their market position.
In the Ohio Concentrates category, Revel showed a significant improvement in rank from July to August 2023, moving from 21st to 9th place. However, this upward trend did not continue in the following months, with Revel falling back to 21st in September and slightly improving to 19th in October. This fluctuation in rank suggests a volatile market position for Revel, despite a noticeable increase in sales in August. When compared to competitors like Neighborgoods, The Standard, Ancient Roots, and Wellspring Fields, Revel's performance shows a lack of consistency. For instance, The Standard and Wellspring Fields maintained a more stable rank over the same period, while Ancient Roots showed a steady improvement. This analysis indicates that while Revel has potential for growth, it faces stiff competition in the Ohio Concentrates category.
In October 2023, Revel's top-performing product was the Indica RSO Syringe (0.84g) from the Concentrates category, maintaining its position from the previous month. This product saw sales of 529 units, a significant drop from 786 units in August. The Sativa RSO Syringe (0.84g), also from the Concentrates category, shared the top spot for the first time since the data collection started. The Vapor Pens category saw a surge in popularity, with the Pineapple Whip Distillate Cartridge (0.84g), Red Velvet Cake Distillate Cartridge (0.84g), and Trainwreck +CBG Distillate Cartridge (0.84g) ranking second, third, and fourth respectively. This is a significant shift from previous months where these products did not appear in the top rankings.