Market Insights Snapshot
Looking at the performance of Spectra Cannabis in Illinois, there are some interesting movements across categories. In the Concentrates category, the brand has seen a steady ranking in the late 20s over the last four months, indicating a consistent presence in the market but room for improvement. Sales in this category have been somewhat volatile, with a significant drop from July to August and a continued decrease in the following months. The brand's performance in the Edibles category shows a similar trend, with the brand not making it into the top 20 in August, and maintaining a ranking in the late 30s in the following months. Sales in this category also decreased significantly from July to September, but showed a slight recovery in October.
In the Flower category, Spectra Cannabis has maintained a stable, albeit lower ranking in the late 50s, with the brand not appearing in the top 20 in October. This could be seen as a potential area for growth. The Tincture & Sublingual category, on the other hand, shows a strong performance with the brand consistently ranking 6th over the four-month period. However, sales in this category have been decreasing month over month. Lastly, in the Vapor Pens category, the brand has been maintaining a ranking in the early 40s, with sales showing a similar trend to the Tincture & Sublingual category. Overall, while there are areas for improvement, Spectra Cannabis has shown a consistent presence in the Illinois market across multiple categories.
In the Illinois concentrates market, Spectra Cannabis has been facing stiff competition from several brands. Over the period from July to October 2023, Spectra Cannabis saw a slight decline in its rank, moving from 24th to 29th. This indicates a drop in sales, which is also reflected in the data. Among its competitors, Grassroots stands out as a strong contender, maintaining a consistent rank in the top 20, although it too experienced a drop in sales over the given period. Another notable competitor is Amber, which maintained a steady rank and showed an increase in sales. On the other hand, Triple Seven and Doctor Solomon's were not in the top 20 brands for some months, indicating lower sales compared to the other brands. This competitive landscape suggests that Spectra Cannabis needs to strategize effectively to improve its rank and sales in the Illinois concentrates market.
In October 2023, the top-performing product from Spectra Cannabis was the 'Sleep - CBD/THC 1:1 CBN Vapable Full Spectrum RSO Disposable (0.3g)' from the Vapor Pens category, maintaining its number one rank from previous months. The second best-selling product was the 'CBD/THC 1:1 Therapeutic Edible Full Spectrum Oil Syringe (1g)' from the Concentrates category, improving its rank from 5 in August to 2 in October. The 'CBD/THC/ CBN 3:2:1 Sleep Gummies 10-Pack (150mg CBD, 100mg THC, 50mg CBN)' from the Edible category secured the third position, maintaining a consistent performance from the previous month. The 'CBD/THC 2:1 Therapeutic Edible Full Spectrum Oil Syringe (1g)' from the Concentrates category moved up to the fourth rank from fifth in September. Finally, the 'CBD/THC 2:1 Canna Drops (180mg CBD, 90mg THC, 30mg Minor Cannabinoid Blend,30ml)' from the Tincture & Sublingual category held the fifth position. Notably, the 'Sleep - CBD/THC 1:1 CBN Vapable Full Spectrum RSO Disposable (0.3g)' recorded a sales figure of 551 units in October.