Market Insights Snapshot
WYLD, a renowned cannabis brand, has been performing impressively across various states and categories. In the Edible category, WYLD has consistently maintained a strong position in multiple states. For instance, in Arizona, Colorado, Michigan, Nevada, Oregon, Saskatchewan, and Washington, the brand has consistently held the number one rank from August to November 2023. However, in Alberta, the brand slipped from the second to the third position in November, indicating a slight downturn.
In the Beverage category, WYLD's performance has been somewhat mixed. While the brand has made steady progress in Arizona, moving from the 13th position in August to the 11th in October, it has seen a slight dip in November, falling back to the 12th rank. In Nevada, the brand has managed to improve its ranking from 20th in August to 16th in November. However, in Oregon, the brand's ranking has fallen from 12th in August to 17th in November. In Washington, WYLD did not make it to the top 20 brands in the Beverage category in October and November, which may be an area of concern for the brand.
In the California edible market, WYLD consistently maintains its position as the second top-selling brand, trailing behind Kiva, which has held the top spot for the months of August through November 2023. While WYLD's sales have generally been stable, there is a noticeable increase in November. On the other hand, Kanha / Sunderstorm and Heavy Hitters, ranking third and fourth respectively, have seen a slight decrease in sales over the same period. It's worth noting that the sales gap between WYLD and these two competitors is quite significant, with WYLD's sales being much higher. This data suggests that while WYLD has a strong hold on its current position, there is still room to grow in order to challenge Kiva's dominance in the market.
In November 2023, WYLD's top-selling product was the 'THC/CBN 2:1 Indica Elderberry Gummies 10-Pack', with a remarkable sales figure of 390,267 units. This product has maintained its first position since August 2023. The 'Sativa Raspberry Gummies 10-Pack' and 'Indica Marionberry Gummies 10-Pack' followed suit, securing the second and third positions respectively for four consecutive months. The 'CBG/THC 1:1 Hybrid Pear Enhanced Gummies 10-Pack' and the 'Hybrid Huckleberry Gummies 10-Pack' rounded out the top five, also maintaining their positions. Despite the consistency in rankings, there were noticeable sales increases across all top products from October to November.