Market Insights Snapshot
In the Arizona cannabis market, The Pharm has shown a consistent performance in the Flower category, maintaining the top spot from July to October 2023. However, there is a slight downward trend in sales, from $2,049,195 in July to $2,775,751 in October. This could be an area of concern or simply a seasonal fluctuation. In the Pre-Roll category, the brand has shown a commendable improvement, moving from rank 7 in July to rank 5 in September and October.
On the other hand, The Pharm's performance in the Vapor Pens category in Arizona has been less than stellar. The brand did not make it into the top 20 in August and October, indicating a decline in its market position. Furthermore, sales have also been on a downward trend, from $242,530 in July to $136,971 in October. This suggests that the brand may need to reconsider its strategy in this category to regain its standing.
In the Flower category in Arizona, The Pharm has consistently held the top rank from July to October 2023, outperforming its competitors. However, it's worth noting that Shango has also maintained a steady second place in the same period. While The Pharm's sales seem to have slightly decreased in October, Shango's sales have seen a significant drop. Interestingly, Mohave Cannabis Co. has shown a promising upward trend, improving its rank from 5th to 3rd and boosting its sales considerably in October. This could potentially challenge The Pharm's leading position in the future. These shifts in rank and sales indicate a dynamic and competitive market, where brands need to constantly innovate and adapt to maintain or improve their positions.
In October 2023, the top-performing product for The Pharm was the 'Dusties - Lemon Berry Diesel Infused Pre-Roll 6-Pack (3.6g)' from the Pre-Roll category, with a notable sales figure of 4296 units. It was closely followed by 'Dusties - Strawnana Cheesecake Infused Pre-Roll 6-Pack (3.6g)', also from the Pre-Roll category, holding the second rank. 'Lemon Vuitton #36 (14g)' from the Flower category, which was in the top position in September, dropped to the third rank in October. The fourth and fifth ranks were occupied by 'Lemon Vuitton #36 (28g)' and 'AK-1995 (4g)', both from the Flower category. This shift in rankings indicates a growing preference for Pre-Roll products in October.