Market Insights Snapshot
In Arizona, THC Wellness has demonstrated a mixed performance across different categories. In the Capsules category, the brand's ranking fluctuated slightly, moving from 7th place in June 2023 to 6th in July 2023, and then back to 7th in August 2023. However, it's worth noting that the brand did not make it into the top 20 brands for this category in September 2023. On the other hand, in the Topical category, THC Wellness maintained a steady presence in the top 10 throughout the four months, peaking at 8th place in July and August 2023 before moving up to 9th place in September 2023.
When it comes to the Concentrates category, THC Wellness faced some challenges. The brand's ranking consistently stayed outside the top 20, ranging from 49th place in July 2023 to 64th place in September 2023. Despite this, it's interesting to observe that the brand's sales in this category showed a substantial increase from June to July 2023. In the Tincture & Sublingual category, THC Wellness performed relatively well, securing a place in the top 10 for June, July, and August 2023. However, the brand's ranking dropped slightly to 11th place in September 2023. This highlights the competitive nature of this category and the need for brands to continuously innovate and engage with their customers to maintain their market position.
In the Topical category within Arizona, THC Wellness has seen a fluctuation in its ranking over the months. In June 2023, it held the 8th position, which it maintained in July 2023, but fell to the 10th position in August 2023, and then rose slightly to the 9th position in September 2023. This indicates a competitive market with close competitors like Revelry Cannabis (AZ) and Sublime consistently ranking above THC Wellness. However, THC Wellness has managed to stay ahead of CBD Wellness in July and June, but fell behind in August and September. The brand DermaFreeze has consistently held a higher rank throughout these months. The sales trend for THC Wellness seems to be decreasing, indicating a need for strategic initiatives to boost sales and improve ranking.
In September 2023, the top-performing product from THC Wellness was the 'Topical Cream (100mg THC, 1.5oz)', maintaining its position from the previous month. The 'CBD/THC 1:1 RSO Syringe (1g)' rose in rank from fourth in August to second in September. The 'Eucalyptus Bath Soak (50mg THC, 1oz)' dropped from second in August to third in September. The 'Mint Tincture (700mg)' and 'Peppermint Tincture (100mg, 30ml)' were new entries in the top five, ranking fourth and fifth respectively. Notably, the 'Topical Cream (100mg THC, 1.5oz)' had a significant sales figure of 79 units in September.