Market Insights Snapshot
In Arizona, Venom Extracts has demonstrated a strong performance in the Concentrates category, maintaining the top spot from July to September 2023. However, there was a slight drop in ranking in October 2023, moving to the second position. This shift coincides with a decrease in sales from September to October, suggesting a correlation between the brand's ranking and its sales performance. The brand's performance in the Vapor Pens category shows a positive trend, improving from 15th place in July to 13th place in October. Despite some fluctuations, this upward movement indicates a growing presence in this category.
On the other hand, in the Washington market, Venom Extracts seems to be struggling to make a significant impact in the Concentrates category. The brand's ranking has been consistently outside the top 20 from July to October 2023, even dropping as low as 88th place in October. This downward trend suggests that Venom Extracts may need to reassess their strategy in this market to improve their standing. In the Pre-Roll category in Arizona, the brand has shown some improvement, moving from 32nd place in July to 22nd place in October. While they have yet to break into the top 20, this upward movement is a positive sign.
In the Concentrates category in Arizona, Venom Extracts has been a consistent top performer, maintaining the number one spot from July to September 2023, before slipping to second place in October. Its main competitors are Mohave Cannabis Co., which has seen a steady rise in rank and sales, overtaking Venom Extracts in October, and Grow Sciences, which has been experiencing a decline in both rank and sales since August. Another notable competitor is Mr. Honey Extracts, which has made a significant leap from 11th to 3rd place within this period. While Venom Extracts has seen a slight decrease in sales, it remains a strong contender in the market.
In October 2023, the top-performing products from Venom Extracts were dominated by Concentrates. The 'Bay Bridge Shatter (1g)' claimed the top spot with sales reaching 3655 units. Following closely were the 'Tropical Sleigh Ride Shatter (1g)' and 'Egyptian Kush Shatter (1g)', ranking second and third respectively. The 'Forbidden Fruit Distillate Syringe (1g)' was the fourth most popular product. Notably, the 'Sex Panther Distillate Syringe (1g)', despite maintaining its 5th rank since July 2023, showed a significant increase in sales.