Market Insights Snapshot
In Maryland, SunMed has shown an impressive performance in several categories. Particularly in the Flower and Pre-Roll categories, the brand has maintained a steady number one ranking from July to October 2023. This dominance indicates a strong preference for SunMed's products in these categories among Maryland consumers. However, the Concentrates category has seen a slight dip in ranking, moving from 3rd place in July to 6th place in October. This could suggest a need for the brand to reevaluate its strategy in this category to regain its previous standing.
On the other hand, SunMed's performance in the Edibles category shows a positive trend, despite not being in the top 20 brands in July. The brand has been gradually climbing the ranks from 28th in July to 23rd in October. This upward movement, along with an increase in sales, suggests a growing interest in SunMed's edible products. In contrast, the Vapor Pens category has seen a slight decrease in ranking from 5th to 7th place over the same period. While this isn't a drastic drop, it's worth noting for those keeping a close eye on SunMed's market performance.
In the Flower category within Maryland, SunMed has maintained a consistent top rank over the months of July to October 2023, outperforming its competitors Curio Wellness and District Cannabis. While both competitors have also held steady in their respective ranks, SunMed has seen a significant increase in sales from July to August, and despite a slight dip in the following months, it still maintains a higher sales volume compared to its competitors. Curio Wellness, on the other hand, has experienced a gradual decrease in sales over the same period, while District Cannabis saw a drop in sales in September, but managed to recover slightly in October. This data indicates a strong market position for SunMed in the Flower category in Maryland, with a potential for further growth.
In October 2023, SunMed's top-performing product was the 'Snoop Dogg OG Pre-Roll 2-Pack (1g)' with sales reaching 32,982 units. This product maintained its top position from the previous month. The 'Snoop Dogg OG (3.5g)' was the second-best performer, even though it dropped a rank from September. The 'Cherry Pie OG (3.5g)' and 'Watermelon Gelato (3.5g)' secured the third and fourth spots, respectively, with the latter making its first appearance in the top ranks. Rounding out the top five was the 'Cherry Pie OG Pre-Roll 2-Pack (1g)', a new entry to the list.