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Aug-2024
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Overview
Market Insights Snapshot
Bloom has shown a varied performance across different states and categories, with notable movements in key markets. In California, Bloom has maintained a consistent presence in the Vapor Pens category, although there has been a slight decline in ranking from 11th in May 2024 to 14th in August 2024. This decline is mirrored by a decrease in sales over the same period. Conversely, Bloom's position in the Concentrates category in California is less favorable, as the brand did not make it into the top 30 rankings from May to August 2024. This indicates a potential area for improvement or a shift in market focus for Bloom within the state.
In Illinois, Bloom's performance in the Vapor Pens category has seen a more positive trend. Starting at 17th place in May and June 2024, the brand experienced a dip to 21st in July but rebounded to 16th in August 2024. This recovery suggests a resilient market presence and potential growth opportunities. On the other hand, the New York market presents more challenges for Bloom, as the brand's ranking in the Vapor Pens category fluctuated significantly, dropping out of the top 30 in July 2024 and only slightly improving to 31st in August 2024. This volatility highlights the competitive nature of the New York market and the need for strategic adjustments to enhance Bloom's market share.
Competitive Landscape
In the competitive landscape of Vapor Pens in California, Bloom has experienced a slight decline in rank over the past few months, moving from 11th place in May 2024 to 14th place by August 2024. This trend is indicative of a decrease in sales, with Bloom's sales dropping from approximately $2.28 million in May to $1.78 million in August. In contrast, Dime Industries has maintained a relatively stable position, consistently ranking around 10th to 12th place, with sales figures remaining robust, hovering around $2.36 million in August. Meanwhile, Jeeter and Sauce Essentials have shown more volatility in their rankings, with Jeeter fluctuating between 15th and 17th place, and Sauce Essentials consistently holding the 14th to 15th positions. Notably, Dabwoods Premium Cannabis has seen an upward trend, improving from 16th place in May to 13th place in August, with a corresponding increase in sales from $1.42 million to $1.79 million. These shifts highlight the competitive pressures Bloom faces, emphasizing the need for strategic adjustments to regain market share and improve sales performance.
Notable Products
In August 2024, the top-performing product for Bloom was Maui Wowie Live Resin Surf Disposable (1g) in the Vapor Pens category, maintaining its rank as number one for four consecutive months with notable sales of 6428 units. Pineapple Express Live Resin Surf Disposable (1g), also in the Vapor Pens category, held steady at the second position for the third consecutive month. Granddaddy Purple Live Resin Surf Disposable (1g) emerged in third place, making its debut in the rankings. Super Lemon Haze Live Resin Surf Disposable (1g) retained its fourth-place ranking from the previous month. Maui Wowie Live Resin Surf Disposable Pod (0.5g) entered the rankings in fifth place for the first time in August 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.
