Market Insights Snapshot
Looking at the performance of Yield Farms in the Washington market, we see some interesting trends. In the Edible category, they have unfortunately not been able to maintain a position within the top 20 brands for the last two months (September and October 2023). This drop in ranking, from 50th in July to 51st in August, corresponds to a decrease in sales from 1329 to 1087 units. It's not all gloom and doom, however. The absence of a ranking number for the months of September and October could indicate a potential opportunity for the brand to re-strategize and bounce back stronger in the edibles category.
In contrast, Yield Farms has consistently held its ground in the Topical category. Over the four months from July to October 2023, they have managed to stay within the top 20 brands, even improving their ranking from 15th to 14th. Although there has been a slight downward trend in sales, the brand's persistence in the rankings is a positive sign. It shows that despite the competitive market in Washington, Yield Farms is a noteworthy player in the Topicals category. This could be an area of focus for the brand in the future.
In the Topical category within the Washington state market, Yield Farms has experienced a slight improvement in rank from 15th in July 2023 to 14th in October 2023. However, this progress is overshadowed by the performance of its competitors. Discovery Garden has shown a consistent rise in rank, moving from 16th to 12th over the same period. Similarly, SnacMe has also improved its position from 14th to 13th. On the other hand, Wild Mint and Mobius have seen a decline in their ranks. Despite these shifts, it's important to note that Yield Farms' sales have been lower than all these competitors, indicating a need for strategic initiatives to boost its market performance.
In October 2023, the top-performing product from Yield Farms was the CBD Elixer Mixer Transdermal Gel 3-Pack (300mg CBD) in the Topical category, maintaining its number one rank from the previous three months. The second best-selling product was the Super Lemon Haze Cartridge (1g) from the Vapor Pens category, also retaining its position from July, August, and September. The Sundae Driver CO2 Cartridge (1g), also from the Vapor Pens category, jumped to the third spot in October from its previous fourth position in July. The Ascend - 9LB Hammer CO2 Cartridge (1g), another Vapor Pens product, slipped from the second rank in July to the fourth in October. Lastly, the Ascend- Strawberry Cough CO2 Cartridge (1g) from the Vapor Pens category retained its fourth rank from September, with sales figures reaching 57 units in October.