Market Insights Snapshot
Space Gem, a renowned cannabis brand, has shown varied performance across different categories in California. In the Beverage category, the brand consistently ranked in the top 50 from July to October 2023, with a slight dip in ranking from 39 in August to 42 in October. This is indicative of a competitive market, with Space Gem maintaining a steady presence, albeit outside the top 20. In the Edible category, Space Gem demonstrated a stronger performance, consistently ranking within the top 15. However, a slight drop from 12th in July to 15th in October suggests increased competition or a slight decrease in consumer preference.
In the Tincture & Sublingual category, Space Gem's performance showed a downward trend from July to October 2023. Starting at rank 33 in July, the brand slipped to 39 by October. This could suggest a need for the brand to reevaluate its strategies in this category. Despite these movements, it's important to note that Space Gem held its ground in the top 40, highlighting its resilience in a competitive market. In terms of sales, the brand saw a notable dip in the Beverage and Tincture & Sublingual categories. However, the Edible category remained a strong performer, contributing significantly to the brand's overall sales in California.
In the California Edibles category, Space Gem has been experiencing a downward trend in both rank and sales from July to October 2023. Starting at rank 12 in July, it dropped to rank 15 by October. In comparison, competitor brands like Dixie Elixirs and STIIIZY have seen an increase in their ranks during the same period. Big Pete's Treats has maintained a stable rank, but with a slight drop in September. Drops, on the other hand, has seen a fluctuation in rank, but ended up at a lower rank in October compared to July. In terms of sales, all these brands, except for Space Gem, have shown an upward trend or remained relatively stable. This indicates a more competitive market for Space Gem, which may need to strategize to regain its position and boost sales.
In October 2023, the top-performing product from Space Gem was the Sour SpaceDrops Gummies 10-Pack (100mg) in the Edible category, with sales figures reaching 5842 units. This product rose from its consistent second place ranking to become the top performer for the month. The Sweet SpaceDrops Gummies 10-Pack (100mg), which had held the top spot in previous months, dropped to second place, selling 4329 units. The third place was occupied by Sour Assorted Gummy Drops 10-Pack (100mg), maintaining its position from September. The CBD/THC 1:1 SpaceDrops Ice Water Hash Gummies 10-Pack (50mg CBD, 50mg THC) and THC/CBN 1:1 Sweet Sleepy Fig Gummy Belt 10-Pack (50mg THC, 50mg CBN) secured the fourth and fifth positions respectively.