Market Insights Snapshot
In the Topical category, SLATE has shown a commendable performance across the state of Massachusetts. The brand has managed to stay within the top 10 brands in the state for four consecutive months. In July 2023, SLATE was ranked 8th, but they climbed up the rankings in August to 5th position. Although there was a slight dip in September, dropping to 6th place, the brand bounced back in October, securing the 4th spot. This consistent performance in the Topical category is indicative of a positive trend and a growing consumer preference for SLATE products.
Looking at the sales data, it's clear that SLATE experienced a significant sales boost in August 2023, nearly doubling their July sales. However, in the following months, the sales somewhat stabilized, maintaining a steady figure. Although the exact sales data for October is not disclosed, the upward movement in the rankings suggests a potential increase in sales. It's worth noting that SLATE's consistent presence in the top 10 brands in Massachusetts is a testament to the brand's strong market presence and consumer loyalty in the Topical category.
In the Massachusetts Topical category, SLATE has shown a positive trend, improving its rank from 8th in July to 4th in October 2023. This upward trajectory indicates a growing market presence, outperforming competitors like Attune and Happy Valley, which have seen their rankings fluctuate within the top 6. However, SLATE still trails behind leading brands such as Nordic Goddess and Treeworks, which consistently rank in the top 3. Despite this, the increase in SLATE's ranking, coupled with a steady sales performance, suggests a positive outlook for the brand in the competitive Massachusetts Topical market.
In October 2023, SLATE's top-performing products were the CBD/THC 1:1 Wonder Balm (600mg CBD, 600mg THC, 6oz) and the CBD:THC 1:1 Wonder Balm (100mg CBD, 100mg THC, 1oz). Both products retained their respective rankings from the previous months, holding the first and second positions in the Topical category. The 600mg variant showed a significant sales increase, selling 523 units in October compared to 481 units in September. However, the 100mg variant experienced a slight decrease in sales, from 28 units in September to 17 units in October. This analysis indicates a consistent preference for the 600mg variant, despite the fluctuating sales of the 100mg variant.