BITS

Data Snapshot: May 04, 2024
BITS Cannabis Brand Logo
$100K+

Apr-2024

Sales

Decline

Trend

6-Month

29

Product Count

SKUs

BITS

Overview

BITS is a unique cannabis brand with a niche focus on low-dose, everyday edibles that contain a calculated dash of adaptogens, aiming to enhance life without overwhelming it. Their unique brand portfolio hinges on 5 milligrams of THC, supplemented by additional cannabinoids such as CBD, CBG, and CBN. The brand forms part of the Verano stable, which is committed to encouraging cannabis education.
Product Trends

BITS Categories

BITS Sales

Market Insights Snapshot

BITS Historical Sales by Category

In the competitive landscape of the cannabis industry, BITS has shown varied performance across different states and categories, specifically within the edible sector. In Arizona, BITS has maintained a steady yet slightly fluctuating position in the rankings, moving from 25th in January to 28th in March, before climbing back to 25th in April. This indicates a resilient presence in the Arizona market, despite facing stiff competition. Conversely, in Illinois, BITS experienced a notable improvement, moving from not being in the top 30 in January to securing the 31st spot by April. This upward trajectory, coupled with a significant increase in sales from January's 84,192 to 105,941 in April, highlights BITS's growing appeal in the Illinois edible market. However, the absence from the top 30 rankings in January suggests there was initial difficulty in capturing market share within this region.

Looking at other states, BITS has demonstrated consistent performance in Maryland, maintaining a rank in the early twenties from January through April, which signifies a strong and stable market presence. In contrast, the brand faced challenges in Nevada, with its ranking slipping from 19th in January to 27th in March, before slightly recovering to 24th in April. This volatility reflects the highly competitive nature of Nevada's cannabis market, possibly influenced by the state's significant tourist population. On a more positive note, Ohio stands out as a strong market for BITS, where it has not only remained within the top 15 from January to April but also shown a consistent sales performance, hinting at a solid consumer base and effective market strategies in place. The performance in Ohio, marked by a steady position and substantial sales figures, underscores BITS's ability to effectively engage with its target demographic in specific regional markets.

Apr-2024 Rank
Edible
25
31
21
24
13
BITS

Competitive Landscape

In the competitive landscape of the edible category in Ohio, BITS has shown a consistent performance, maintaining its position in the middle of the rankings from January to April 2024. Despite facing stiff competition, BITS managed to improve its rank from 14th in March to 13th in April, indicating a positive trend in its market position. Notably, Lost Farm has seen a significant rise, entering the rankings in February at 8th and reaching 12th by April, showcasing a rapid gain in popularity and sales. Conversely, UB GOOD, despite fluctuating in the rankings, has consistently outperformed BITS in terms of sales, highlighting the competitive pressure BITS faces. Main Street Health and Vapen have also been key competitors, with Main Street Health closely trailing BITS and Vapen showing a slight decline in rank but remaining a notable player in the market. This competitive analysis underscores the challenges and opportunities BITS faces, with the need to innovate and capture more market share to improve its rank and sales in the highly competitive Ohio edibles market.

BITS market ranking for OH Edible

BITS

Notable Products

In April 2024, BITS saw Guava Go Gummies 20-Pack (100mg) leading the sales chart with a total of 3985 units sold, marking it as the top-performing product in their lineup. Following closely were CBD/THC 1:1 Elderberry Wellness Gummies 20-Pack (100mg CBD, 100mg THC) and Acai Affection Gummies 20-Pack (100mg), securing the second and third positions, respectively. Notably, Acai Affection Gummies climbed down from the top spot in March to third in April, showcasing a shift in consumer preferences within BITS's product range. The CBG/THC 1:1 Yuzu Zone Gummies 20-Pack (100mg CBG, 100mg THC) and CBN/THC 1:1 Pomegranate R&R Gummies 20-Pack (100mg CBN, 100mg THC) rounded out the top five, indicating a consistent demand for a diverse range of cannabinoid formulations. These rankings highlight the dynamic nature of consumer interests and the competitive edge of BITS's edible category.

Product Rank
Category
Jan-2024
Feb-2024
Mar-2024
Apr-2024
Guava Go Gummies 20-Pack (100mg)
Edible
2
1
2
1
CBD/THC 1:1 Elderberry Wellness Gummies 20-Pack (100mg CBD, 100mg THC)
Edible
1
3
3
2
Acai Affection Gummies 20-Pack (100mg)
Edible
3
2
1
3
CBG/THC 1:1 Yuzu Zone Gummies 20-Pack (100mg CBG, 100mg THC)
Edible
5
5
4
4
CBN/THC 1:1 Pomegranate R&R Gummies 20-Pack (100mg CBN, 100mg THC)
Edible
4
4
5
5
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