Market Insights Snapshot
Zova, a brand renowned for its topicals, has been demonstrating a fluctuating performance in Michigan. In September 2023, Zova managed to secure the 20th position among the top brands in the state. However, the brand showed an upward trend in October, moving up two spots to the 18th position. Interestingly, Zova's ranking was not listed for November, indicating that the brand did not make it to the top 20 that month. Nevertheless, Zova bounced back in December, reclaiming its 20th position, despite the competitive market.
When it comes to sales, Zova's performance showed a similar pattern. The brand started with sales of 3282 units in September, which fell to 2624 units in October. The sales figures for November are not available, presumably reflecting the brand's drop from the top 20 ranking. However, in December, Zova managed to regain some ground with sales of 2714 units. It's important to note that while the brand has faced some challenges, it has also shown resilience in a highly competitive market. These trends provide valuable insights into the brand's performance and potential future movements.
In the Topical category in Michigan, Zova has seen a fluctuation in its rank, holding the 20th position in September 2023, improving to 18th in October, but not making the top 20 in November, and returning to the 20th spot in December. This suggests a level of volatility in Zova's market position. In comparison, Mary Jane's Medicinals has consistently ranked higher than Zova, peaking at 12th in October. Meg & Zen also outperformed Zova, maintaining a rank within the top 20 throughout the period. On the other hand, Apothecare and Curaleaf consistently ranked lower than Zova, indicating that Zova is performing better than these brands. The absence of Zova's rank in November suggests a temporary dip in sales, but the brand seems to have recovered in December, indicating resilience.
In December 2023, the top-performing product from Zova was the CBD Botanical Salve (500mg, CBD 100ml) under the Topical category. Notably, this product maintained its top rank from September through December, demonstrating consistent high demand. Sales figures for December reached 90 units, a significant increase from the previous month. This performance indicates a strong consumer preference for this product. It's worth noting that this product's sustained top rank, despite fluctuations in sales, suggests a stable market presence.