Market Insights Snapshot
Yellow Labs, a prominent cannabis brand, has been showcasing a positive trend in the 'Tincture & Sublingual' category in the state of Massachusetts. The brand climbed up the rankings consistently from June to September 2023, moving from the 19th position to 14th. This steady improvement in rankings indicates a growing preference for Yellow Labs among consumers in this category, which is a positive sign for the brand. However, it's worth noting that the brand was not among the top 20 in May 2023, suggesting a recent surge in popularity.
On the sales front, Yellow Labs has also demonstrated a promising upward trajectory. Without divulging too much, it's safe to say that there was a notable increase in sales from June to September 2023. The month of August was particularly successful for the brand, with a significant boost in sales numbers. This aligns with the improved ranking for the same period. However, it's important for Yellow Labs to maintain this momentum to ensure a stable position among the top 20 brands in Massachusetts in the 'Tincture & Sublingual' category.
In the Tincture & Sublingual category in Massachusetts, Yellow Labs has shown a steady improvement in rank over the past four months, moving from 19th in June to 14th in September. This upward trend suggests an increase in market share and popularity among consumers. However, Yellow Labs still faces stiff competition from brands like Verdure, Wave Hemp, Good Feels Inc, and Heritage CBD. Notably, Good Feels Inc, despite a dip in June where they fell out of the top 20, has consistently ranked higher than Yellow Labs. Meanwhile, Heritage CBD has shown a slight decline in rank, potentially offering an opportunity for Yellow Labs to further improve its position. Wave Hemp, despite ranking lower than Yellow Labs, has shown a significant increase in sales from June to September, indicating a potential threat in the future.
In September 2023, the top-performing product from Yellow Labs was the Energy Mint Mist (375mg) from the Tincture & Sublingual category. This product has consistently held the top rank over the past four months. Notably, the sales for this product increased in September, reaching a high of 27 units sold. This represents a significant growth from the previous month's sales of 22 units. Despite fluctuations in the market, the Energy Mint Mist (375mg) has maintained its position as the leading product in Yellow Labs' portfolio.