Market Insights Snapshot
In the Beverage category, Tonic has shown a consistent performance across Arizona, Illinois, and Michigan. In Arizona, Tonic has maintained its 4th position from July to October 2023, although sales have seen a slight downward trend. On the other hand, in Illinois and Michigan, Tonic has emerged as the top Beverage brand for the same period. Particularly in Illinois, the brand has been able to sustain impressive sales figures, despite a slight dip in September and October.
When it comes to the Edible category, Tonic's performance has been quite varied. In Arizona, the brand has consistently been outside the top 20, ranking between 40th and 43rd from July to October 2023. This could be an area of concern, as sales have also seen a decreasing trend during this period. In Illinois, Tonic was not in the top 20 in July but managed to secure a position within the top 40 in the following months, indicating some improvement. However, sales figures in this category remain relatively low in comparison to the Beverage category.
In the Illinois Beverage category, Tonic has consistently held the top rank from July to October 2023. However, it's worth noting that Tonic's sales have been on a downward trend during this period. Among its competitors, CQ (Cannabis Quencher) has maintained the second rank throughout these months, but its sales have also been decreasing. Interestingly, Journeyman has been steadily climbing the ranks, moving from the 8th position in July to the 3rd in October, and its sales have significantly increased. This suggests that while Tonic is currently the market leader, Journeyman is a rising competitor to watch.
In October 2023, the top-selling product from Tonic was the Raspberry Lemonade Tonic (100mg THC, 12oz), which sold 10,945 units, reclaiming its position from September when it was ranked third. The second best performer was the Mandarin Orange Tonic (100mg THC, 12oz), despite it slipping down from its top position in September. The CBD/THC 1:1 Tropical Punch Tonic (100mg CBD, 100mg THC, 12oz) came in third, a drop from its second-place position in the previous month. The Mango Pineapple Tonic (100mg THC, 12oz) improved its ranking to fourth place, up from fifth in September. Finally, the Pomegranate Acai Tonic (100mg THC, 12oz) entered the top five for the first time in October.