Market Insights Snapshot
In the Ohio market, Wellspring Fields has demonstrated a consistent performance in the Beverage category, maintaining a rank within the top 6 from July to October 2023. The brand, however, has seen a significant fluctuation in the Concentrates category, where it dropped from rank 17 in July to 24 in August, before climbing back to 17 in October. It's worth noting that Wellspring Fields was not in the top 20 brands for the Edibles and Flower categories in any of the considered months, indicating a potential area for improvement.
Interestingly, Wellspring Fields has shown a promising upward trend in the Flower category, where the rank improved from 43 in July to 31 in October, hinting at a growing consumer preference. In contrast, the brand's performance in the Vapor Pens category has been less stable, with rankings oscillating between 38 and 55 over the same period. The Topical category, on the other hand, has seen a steady performance, consistently holding a rank within the top 11. This analysis suggests a mixed performance across categories, with some showing potential for growth and others requiring strategic focus to improve rankings.
In the Ohio Flower category, Wellspring Fields has shown a notable upward trend in rank and sales, moving from rank 43 in July to rank 31 in October, indicating a significant improvement in market position. This is in contrast to Willie's Reserve and Verano, which have remained relatively stable in their rankings. Curaleaf, however, has seen a sharp drop in rank from 12 in July to 29 in October, despite having higher sales than Wellspring Fields. Interestingly, Standard Farms has shown a similar trend to Wellspring Fields, improving from rank 40 to 32 over the same period. These shifts in the competitive landscape suggest a dynamic and evolving market in the Ohio Flower category.
In October 2023, Wellspring Fields saw a significant shift in its top-performing products. The 'Dirty 30 (14.15g)' from the Flower category maintained its position as the top-selling product, with sales reaching 569 units. 'Grape Runtz (14.15g)', also from the Flower category, emerged as the second top-selling product. The 'Golden Dreamz Live Resin (0.84g)' from the Concentrates category, despite a drop in rank from 3 in September to 4 in October, saw a significant increase in sales to 370 units. Lastly, 'Golden Goat (14.15g)' and 'GMO Live Resin Cartridge (0.84g)', from the Flower and Vapor Pens categories respectively, entered the top five list, indicating a diversification in customer preferences.