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Aug-2024
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Overview
Market Insights Snapshot
In California, 710 Labs has demonstrated strong performance in the Concentrates category, maintaining the top rank consistently from May to August 2024. This suggests a steady demand and dominance in this segment within the state. However, the brand's performance in the Flower and Vapor Pens categories has been less impressive, with rankings fluctuating and failing to break into the top 30 in some months. For instance, in the Vapor Pens category, 710 Labs hovered around the 50th position, indicating room for improvement. The Flower category showed slight volatility, with rankings varying between 34th and 40th, suggesting a need for strategic adjustments to enhance market presence.
In Colorado and Michigan, 710 Labs' performance has been mixed across different categories. In Colorado, the brand has seen a decline in the Concentrates category, dropping from 3rd to 4th place by August 2024, while its Flower category ranking also decreased from 9th to 16th. This downward trend indicates potential challenges in maintaining market share. Conversely, in Michigan, the brand has shown resilience in the Concentrates category, improving from 11th to 9th place in July before returning to 11th in August. However, the Vapor Pens category in both states reveals a significant gap, with 710 Labs not appearing in the top 30 rankings, pointing to a possible area for growth and market penetration.
Competitive Landscape
In the California concentrates market, 710 Labs has consistently maintained its top rank from May to August 2024, showcasing its strong market presence and consumer loyalty. Despite a slight fluctuation in sales, 710 Labs remains the leader, significantly ahead of its closest competitor, Raw Garden, which has held the second position throughout the same period. Raw Garden's sales have shown a steady increase, yet they remain substantially lower than 710 Labs. Meanwhile, STIIIZY has demonstrated notable upward mobility, climbing from the fifth rank in June to the third rank by August, indicating a potential threat to Raw Garden's position but still trailing behind 710 Labs. These trends highlight 710 Labs' robust market leadership but also underscore the importance of monitoring emerging competitors like STIIIZY to maintain its dominant position.
Notable Products
In August 2024, the top-performing product from 710 Labs was Garlic Cocktail #7 Persy Rosin (1g) in the Concentrates category, climbing to the number one spot with sales of $1,824. Garlic Cocktail #7 (3.5g) in the Flower category secured the second position, showing strong performance. Garlic Cocktail #7 Live Rosin Badder (1g) in the Concentrates category ranked third, making a notable entry. Cake Crasher (3.5g) in the Flower category held the fourth position, maintaining its rank from the previous month. Donny Burger (3.5g) in the Flower category dropped from the top spot in July to fifth place in August, indicating a shift in consumer preference.
Top Selling Cannabis Brands
Data for this report comes from real-time sales reporting by participating cannabis retailers via their point-of-sale systems, which are linked up with Headset’s business intelligence software. Headset’s data is very reliable, as it comes digitally direct from our partner retailers. However, the potential does exist for misreporting in the instance of duplicates, incorrectly classified products, inaccurate entry of products into point-of-sale systems, or even simple human error at the point of purchase. Thus, there is a slight margin of error to consider. Brands listed on this page are ranked in the top twenty within the market and product category by total retail sales volume.
