Market Insights Snapshot
In the California market, VET CBD has maintained a steady performance in the Tincture & Sublingual category. The brand consistently held the 5th rank from July to October 2023, indicating its strong presence in this category. However, there was a noticeable decline in sales over this period, from 382,246 in July to 256,111 in October. This suggests a potential decrease in market share or consumer demand, which could be a point of concern for the brand.
On the other hand, VET CBD's performance in the Topical category in California showed a different trend. The brand was not among the top 20 in July, but it managed to secure the 28th rank in August. Unfortunately, the data for September and October is not available, indicating that the brand did not make it to the top 20 in these months. Despite this, the brand did record sales in August, suggesting that there is a market for their Topical products, but there is significant room for improvement in their ranking.
In the Tincture & Sublingual category in California, VET CBD has consistently held the 5th rank from July to October 2023. However, it's worth noting that its sales have been on a declining trend during this period. Its closest competitor, Mary's Medicinals, has maintained a steady 4th rank, with sales figures that are consistently higher than VET CBD. Another notable competitor, Jade Nectar, has fluctuated between the 6th and 7th ranks, with sales figures that are lower than VET CBD. ABX / AbsoluteXtracts has been slowly climbing the ranks, moving from 9th to 7th place, but its sales are still significantly lower than VET CBD. The top competitor in this category is Care By Design, which has consistently held the top ranks and has significantly higher sales than VET CBD.
In October 2023, VET CBD's top-selling product was the 'CBD/THC 20:1 Regular Strength Tincture (250mg CBD, 12.5mg THC, 60ml, 2oz)' with sales reaching 1483 units. This product climbed from the second position in previous months. The 'CBD/THC 20:1 Regular Strength Tincture (125mg CBD, 6.25mg THC, 1oz, 30ml)', which held the top spot from July to September, dropped to second place. The 'CBD:THC 10:1 Extra Strength Pet Tincture (250mg CBD, 25mg THC, 60ml, 2oz)' maintained its third position. A new entrant in the top four was the 'CBD/THC 10:1 Extra Strength Tincture (500mg CBD, 50mg THC, 60ml)', selling 574 units.