Market Insights Snapshot
Tao Gardens has demonstrated a consistent performance in the Oregon market, particularly in the Beverage and Tincture & Sublingual categories where they have consistently ranked within the top 20 brands from July to October 2023. However, a slight downward trend is observed in their Beverage category ranking, moving from 11th place in July to 14th in August, and maintaining the 12th position in September and October. Their sales in the Beverage category also saw a slight dip in August but recovered in September and October. In the Tincture & Sublingual category, Tao Gardens has maintained a steady position hovering around the 19th and 20th ranks.
On the other hand, Tao Gardens' performance in the Concentrates and Edibles categories shows room for improvement. In the Concentrates category, their rank consistently fell from 67th in July to 95th in October, indicating a significant decrease in their market position. Their sales in this category also saw a notable decrease over these months. In the Edibles category, Tao Gardens has managed to maintain a position within the top 40 brands, but with a slight upward movement in their ranking from 29th in July to 37th in October. Interestingly, the brand was not in the top 20 in the Flower category in July, but saw a huge leap to the 26th position in October, a positive sign of growth in this category.
In the Flower category within the Oregon market, Tao Gardens has shown a significant upward trend in its ranking from not being in the top 20 in July 2023 to reaching the 26th position by October 2023. This indicates a notable improvement in sales, although specific figures are not disclosed here. In comparison, Oregrown has seen a slight decrease in rank over the same period, while SugarTop Buddery has remained relatively stable but outside the top 20. PRUF Cultivar / PRŪF Cultivar experienced a peak in August but dropped significantly by October, and Benson Arbor has shown a strong upward trend, similar to Tao Gardens, but with a slightly higher rank in October. These trends suggest a competitive and dynamic market, with Tao Gardens making significant strides in a short period.
In October 2023, Tao Gardens saw its top-performing product as 'Deahead OG (Bulk)' from the Flower category, which led the sales with a total of 2240 units sold. The second best-selling product was 'SFV OG (Bulk)', also from the Flower category, which maintained its third position from July and August and moved up to second place in October with a significant increase in sales. 'Chem Skunk (Bulk)' emerged as the third best-seller, although it was not among the top products in the previous months. 'Lemon Maraschino #6 (Bulk)' dropped from fourth in August to the fourth position in October, while 'GG4 x MAC #1 (Bulk)' slipped from second place in September to fifth in October. This data suggests a dynamic market with changing customer preferences, yet a consistent demand for Flower category products.