Market Insights Snapshot
In the Topical category, Synergy Skin Worx has consistently maintained its position in the top three brands in Oregon over the past four months. This is a commendable achievement, indicating a strong and stable market presence. However, there is a noticeable decline in sales from August to October 2023, moving from 33,270 to 25,738. Although the brand has managed to hold its ranking, this downward trend in sales might be a point of concern and warrants further investigation.
Despite the decrease in sales, it's worth noting that Synergy Skin Worx remained in the top 3 for four consecutive months. This suggests a loyal customer base and a strong product offering in the Topical category. To put it into perspective, brands that don't rank within the top 20 for a given month are not listed, hence, maintaining a top 3 position is an impressive feat. However, the declining sales trend does indicate some volatility, and it would be interesting to track how this unfolds in the following months.
In the Oregon Topical category, Synergy Skin Worx consistently held the third rank from July to October 2023. This position placed them behind High Desert Pure and Medicine Farm Botanicals, who occupied the first and second ranks respectively. However, they were ahead of Empower and Smokiez Edibles, who fluctuated in ranks below them. While Synergy Skin Worx's sales seemed to decrease over the period, it's worth noting that this trend was also observed in their competitors, indicating a possible market-wide slowdown. Despite this, Synergy Skin Worx maintained their position, suggesting a strong brand presence within the market.
In October 2023, the top-performing product from Synergy Skin Worx was the 'CBD/CBN/CBC/CBG/THC Entourage Patch', maintaining its number one rank from the previous three months with sales reaching 759 units. The 'THC Transdermal Patch' slipped to second place, despite holding the top spot in July 2023. The 'CBD/THC 1:1 Transdermal Patch (40.3mg CBD, 35.04mg THC)' climbed up in the rankings, moving from fifth place in July to third in October. The 'CBD/THC 1:1 Transdermal Patch (25mg CBD, 24mg THC)' remained consistent, holding the fourth position. However, the 'High CBD Transdermal Patch' experienced a significant drop, falling from second in July to fifth in October.