Market Insights Snapshot
In the edible category, Colorado, Tastebudz has maintained a strong presence in the top 5 brands from August to November 2023. The brand has seen a slight dip in ranking from 4th to 5th place between September and November. While this is not a significant drop, it does indicate a slight decrease in their market dominance. Interestingly, despite this slight decrease in ranking, Tastebudz has seen a consistent increase in sales from August to September, with a peak sales figure of 1,158,526 in September, before experiencing a minor decline in the following two months.
Conversely, in the vapor pens category, also in Colorado, Tastebudz has made significant strides in improving their ranking. Starting at a lowly 50th place in August, the brand has managed to climb up to 32nd place by October, a commendable feat. However, they slipped back to 44th place in November, indicating a volatile market position in this category. In Oregon, Tastebudz's performance in the concentrates category has been less than stellar, with the brand struggling to break into the top 70, although there was a significant improvement in November, moving up to 78th place from the 90s in the preceding months.
In the edible category within Colorado, Tastebudz has maintained a steady presence, consistently ranking in the top 5 brands throughout the period from August to November 2023. While Tastebudz has held its own, it's worth noting that Dialed In Gummies has consistently outperformed Tastebudz, maintaining a higher rank and presumably higher sales. On the other hand, Tastebudz has consistently outperformed both Dixie Elixirs and Good Tide, which have fluctuated in their rankings and presumably their sales. Interestingly, Ript has shown a positive trend, improving its rank and presumably increasing its sales over the period, potentially posing a growing threat to Tastebudz. It's important for Tastebudz to keep an eye on these competitive dynamics as they strategize for the future.
In November 2023, Tastebudz's top-performing product was the Nightly Rituals - CBD:CBN:THC 1:1:1 Blueberry Lavender 20-Pack with sales reaching 15,525 units. This product maintained its number one ranking from previous months. The second best-selling product was the CBD:THC 50:1 Hybrid Raspberry Lemonade Gummies 20-Pack, selling 6,145 units, moving up from its third place in October. The Indica Blue Raspberry Live Rosin Gummies 10-Pack dropped to third place with 4,826 units sold. The Sativa Watermelon Gummies and Hybrid Assorted Fruit Flavors Rosin Gummies held their respective fourth and fifth positions, with the latter selling 3,277 units.