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Aug-2024
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Overview
Market Insights Snapshot
Beezle Extracts has demonstrated varying performance across different states and categories in recent months. In California, their presence in the Concentrates category has seen a marked decline, with rankings falling from 69th in May to 98th in June, and subsequently dropping out of the top 30 altogether by July and August. This downward trend could signal challenges in maintaining market share within a highly competitive environment. Conversely, in Maryland, Beezle Extracts has maintained a strong and relatively stable position in the Concentrates category, ranking between 3rd and 6th from May through August, indicating robust performance and consumer loyalty in this region.
In Maryland, Beezle Extracts' performance in the Edible category has been less consistent, fluctuating between 21st and 25th place, suggesting potential volatility or seasonal variations in consumer preferences. Their Vapor Pens category also illustrates a downward trajectory, moving from 16th in May to 28th by August, and eventually falling out of the top 30. This decline might reflect increased competition or shifts in consumer demand. Overall, while Beezle Extracts shows strong performance in certain categories and states, there are notable areas where the brand may need to reassess strategies to regain and strengthen its market position.
Competitive Landscape
In the Maryland concentrates market, Beezle Extracts has experienced a notable decline in rank over the past few months, dropping from 3rd place in May 2024 to 6th place by August 2024. This downward trend in rank is juxtaposed with a steady increase in sales, indicating that while Beezle Extracts is growing, it is being outpaced by competitors. For instance, Evermore Cannabis Company has surged from 7th place in May to 3rd place in August, with a significant spike in sales, particularly in August. Similarly, SunMed maintained the top position for three months before dropping to 4th place in August, yet their sales remain robust. Meanwhile, Doctor Solomon's has shown a remarkable climb from 18th place in May to 7th place by July, stabilizing there in August. Lastly, CULTA has seen a more modest improvement, moving from 10th place in May to 8th place in August. These shifts highlight the dynamic nature of the Maryland concentrates market and suggest that while Beezle Extracts is performing well in terms of sales, it faces stiff competition from brands that are rapidly gaining market share.
Notable Products
In August 2024, the top-performing product from Beezle Extracts was Rum Pie Live Rosin (1g) in the Concentrates category, securing the number one rank with notable sales of $2,375. Night Time Bites - THC/CBN 1:1 Blue Razz Chews 10-Pack (100mg THC, 100mg CBN) climbed to the second position in the Edible category, showing a significant improvement from its previous ranking of fifth in May 2024. The Buzz - Kryptochronic BDT Distillate Cartridge (0.5g) in the Vapor Pens category placed third, maintaining a strong presence despite a drop from its top rank in June 2024. The Apple Fritter Distillate Cartridge (0.5g) also in Vapor Pens, moved to fourth place, down from its peak in July 2024. Lastly, Buzz - Cindy 99 BDT Distillate Cartridge (0.5g) secured the fifth spot, showing a decline from its fourth position in May 2024.
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.
