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Sep-2024
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Overview
Market Insights Snapshot
Balance has shown varied performance across different states and categories in recent months. In the state of Arizona, Balance's presence in the Vapor Pens category has seen a decline, with rankings slipping from 45th in July and August to 57th by September. This drop in ranking is coupled with a significant decrease in sales, from $57,225 in August to $18,908 in September, indicating a potential challenge in maintaining market share. The brand's absence from the top 30 in Arizona highlights a need for strategic adjustments to regain traction in this competitive category.
Conversely, Balance has maintained a more stable position in the Vapor Pens category in Washington. The brand has consistently hovered around the 19th and 20th positions from June to September. Although there was a slight dip in sales from August to September, the overall trend suggests a steadier performance compared to Arizona. This stability in Washington could serve as a foundation for Balance to explore strategies that might bolster their ranking and sales in other markets, such as Arizona, where they currently face more significant challenges.
Competitive Landscape
In the competitive landscape of Vapor Pens in Washington, Balance has maintained a consistent presence, ranking 19th in June and July 2024, before slightly dropping to 20th in August and September 2024. Despite this minor decline in rank, Balance has shown resilience in sales, with a notable increase from June to August, before experiencing a dip in September. This trend suggests a potential seasonal or market-driven fluctuation. In comparison, Cookies has seen a downward trend in rank from 13th in June to 18th in September, with sales reflecting a similar decline. Meanwhile, Thrills has maintained a stable rank at 17th and 19th, with a slight decrease in sales in September. SKÖRD and The Capsule Collection have not been in the top 20 consistently, indicating a less stable market presence. These dynamics highlight Balance's ability to sustain its market position amidst fluctuating competition, suggesting opportunities for strategic marketing to bolster its rank and sales further.
Notable Products
In September 2024, Balance's top-performing product was the CBD/THC 1:1 Stephen Hawking Kush Distillate Disposable (1g) in the Vapor Pens category, maintaining its first-place ranking from July and returning to the top after a second-place finish in August. This product recorded sales of 2,492 units. The CBD/THC/CBG 1:1:1 Tranquility Jefe Full Spectrum Disposable (1g) held steady in second place, showing consistent performance over the past few months. The CBN/THC 1:1 Sleepen El Jefe Distillate Disposable (1g) dropped from its leading position in August to third place in September, indicating a shift in consumer preference. Meanwhile, the THCV/THC 1:1 Jefe Energy Distillate Disposable (1g) improved its ranking to fourth place, despite a decline in sales figures. Lastly, the CBD/THC/CBG 1:1:1 Tranquility Distillate Disposable (1g) slipped to fifth place, reflecting a significant decrease in sales compared to previous months.
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.
