Market Insights Snapshot
Beginning with the Massachusetts market, Sweet Talk has experienced a notable decline in its performance in the Edibles category. From July to September 2023, the brand's ranking dropped from 61st to 87th place. This downward trend is also reflected in the sales figures, with a significant decrease from July's sales of 9826 to September's 276. It's worth noting that the brand's ranking for October 2023 is missing, indicating that Sweet Talk did not make the top 20 brands in the Edibles category in Massachusetts for that month. This could signal a need for the brand to reassess its strategies in this market.
Conversely, in the Maryland market, Sweet Talk has maintained a more stable performance in the Edibles category. The brand consistently held a position within the top 20 brands from July to October 2023, fluctuating slightly between the 13th and 16th ranks. Sales have also generally been on an upward trend, peaking at 119296 in September 2023. However, there was a slight dip in sales in October to 94836. Despite this, the brand's overall steady performance in Maryland offers a more positive outlook compared to its Massachusetts counterpart.
In the Maryland edible category, Sweet Talk has been experiencing a slight decline in its rank, moving from 13th in August and September 2023 to 14th in October 2023. This is in contrast to its competitors such as Strane and Beboe, which have seen improvements in their rankings over the same period. Strane moved from 20th in July to 13th in October, while Beboe made its first appearance in the top 20 in August and climbed to 16th by October. Another competitor, Bubby's Baked, has maintained a steady rank of 12th over these months. However, Sunnies Gummies has shown a significant upward trend, entering the top 20 in September and reaching 15th place in October. Despite these shifts, Sweet Talk's sales have been consistently higher than Beboe and Sunnies Gummies, but lower than Strane and Bubby's Baked.
In October 2023, the top-performing product from Sweet Talk was the 'Blue Raspberry Gummies 20-Pack (100mg)', regaining its position from July with a total of 1097 units sold. The 'Watermelon Gummies 20-Pack (100mg)' ranked second, moving up from its September position at fourth place. The 'Green Apple Gummies 20-Pack (100mg)' maintained its third position from the previous month. Notably, 'Guava Passionfruit Gummies 20-Pack (100mg)', which held the top spot in August and September, dropped to fourth place. Lastly, the 'Sativa Orange Peach Nano Gummies 20-Pack (100mg)' entered the top five in September and remained there in October.