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Aug-2024
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Overview
Market Insights Snapshot
In the state of California, Cannavis Syrup has shown consistent performance within the Beverage category. Starting at rank 14 in May 2024, the brand improved to rank 12 in June and maintained this position through August. This stability suggests that Cannavis Syrup has a steady consumer base in California, despite a notable decrease in sales from $106,571 in June to $70,516 in August. The ability to hold onto its rank amidst fluctuating sales figures indicates resilience and a strong market presence in California.
Conversely, in Michigan, Cannavis Syrup's presence in the Beverage category has been more volatile. The brand did not appear in the top 30 rankings for May, June, or July but made a significant entry at rank 11 in August. This sudden appearance suggests a recent surge in popularity or a successful marketing campaign that captured consumer interest. However, the absence from the top 30 in the preceding months could be a concern, indicating previous struggles to gain traction in the Michigan market.
Competitive Landscape
In the competitive landscape of the California beverage category, Cannavis Syrup has shown notable resilience and growth. Over the past four months, Cannavis Syrup has improved its rank from 14th in May 2024 to 12th in June, maintaining this position through August. This upward movement is particularly significant when compared to CQ (Cannabis Quencher), which has consistently held the 13th rank but experienced a steady decline in sales. Meanwhile, High Power has also seen an improvement in rank, moving from 17th to 14th, but its sales figures remain lower than Cannavis Syrup's. The most striking competitor is Mary Jones, which surged from 26th in May to 10th in August, indicating a rapid increase in market presence. However, Sip Elixirs has consistently outperformed Cannavis Syrup, holding the 11th rank throughout the period. These dynamics suggest that while Cannavis Syrup is gaining ground, it faces stiff competition from both established and emerging brands, necessitating strategic marketing efforts to further enhance its market position.
Notable Products
In August 2024, Pineapple Syrup (200mg) maintained its top position in the Cannavis Syrup lineup, with notable sales of 1,352 units. Mango Extra Strength Syrup 2-Pack (1000mg) held steady at the second position, showing consistent performance over the past four months. Watermelon Extra Strength Syrup 2-Pack (1000mg THC, 6.7oz) improved its rank to third place from the fourth position in July 2024. Blue Raspberry Extra Strength Syrup 2-Pack (1000mg) climbed up to fourth place, showing a slight increase in its ranking. Tropical Punch Extra Strength Syrup 2-Pack (1000mg THC, 4oz) dropped to the fifth position from third in July 2024, indicating a shift in consumer preferences.
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.
