Market Insights Snapshot
In the beverage category, Two Roots Brewing Co. has shown a consistent performance in the state of Nevada. The brand maintained its rank at the 16th position in July and August 2023, slightly dipped to the 18th spot in September, but bounced back to its original 16th rank in October. This fluctuation, although minimal, indicates a slight variance in the brand's market positioning. However, it's also important to note that Two Roots Brewing Co. remained within the top 20 brands in Nevada throughout these months, which is a positive sign of its steady market presence.
On the other hand, a downward trend is noticeable in the brand's sales figures. From July to October 2023, there has been a gradual decrease in sales, with the numbers dropping from 4279.0 to 2546.0. This downward trend might be a point of concern and could be indicative of market dynamics, consumer preferences, or competitive pressures. Despite this, Two Roots Brewing Co. continues to hold a significant share in the market and has a consistent ranking, demonstrating its resilience in the competitive beverage industry of Nevada.
In the Nevada beverage category, Two Roots Brewing Co. has maintained a relatively stable rank, fluctuating between 16th and 18th place from July to October 2023. However, their sales have been on a downward trend, indicating a potential loss of market share. Their main competitors, CannaPunch, WYLD, Pamos, and The Happiest Hour have shown varying performance. CannaPunch, despite a slight drop in rank, has consistently outsold Two Roots Brewing Co., while WYLD, with a similar rank, has shown lower sales. Pamos has improved in rank and outsold Two Roots Brewing Co. in October. The Happiest Hour, despite an initial increase in sales, dropped significantly in October, falling below Two Roots Brewing Co.'s sales. These trends suggest a highly competitive market with opportunities for Two Roots Brewing Co. to capitalize on.
In October 2023, the top-performing product from Two Roots Brewing Co. was 'CBD/THC 3:1 Passion Fruit Tangerine Sparkling Water (3mg CBD, 1mg THC)', retaining its position from the previous two months with a sales figure of 327 units. Following closely, 'CBD/THC 1:2 Creative Waters Co. Cucumber Lime Sparkling Water (3mg CBD, 6mg THC)' climbed up to the second spot from its third position in September. However, 'CBD/THC 1:1 Berry Lemon Sparkling Water (5mg CBD, 5mg THC)', which was the top product in July, slipped to the third spot in October.
These shifts in rankings indicate a growing preference for the Passion Fruit Tangerine Sparkling Water and Cucumber Lime Sparkling Water. It's worth noting that despite the change in rankings, all these products have consistently remained in the top three since July, demonstrating their popularity among the consumers.