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Aug-2024
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Overview
Market Insights Snapshot
In California, CQ (Cannabis Quencher) has maintained a consistent ranking of 13th place in the Beverage category from May through August 2024. However, their sales have shown a downward trend, decreasing from $106,092 in May to $69,015 in August. This consistent ranking despite declining sales might indicate a stable but competitive market position, where the overall market dynamics could be affecting the entire category. It's notable that CQ (Cannabis Quencher) has managed to stay within the top 30, but the drop in sales suggests potential challenges in maintaining their market share.
In contrast, Illinois presents a more positive outlook for CQ (Cannabis Quencher). The brand has held strong in the top 5, ranking 3rd in May and then 4th from June to August 2024. Sales figures have remained relatively stable, with a slight increase from $310,609 in June to $325,525 in August. This indicates a robust market presence and possibly effective marketing strategies or consumer loyalty in Illinois. Meanwhile, in Massachusetts, CQ (Cannabis Quencher) has seen a gradual decline in rankings from 10th in May to 12th in August, despite an overall increase in sales over the same period. This mixed performance across states highlights the varying market dynamics and consumer preferences in different regions.
Competitive Landscape
In the Illinois beverage category, CQ (Cannabis Quencher) has experienced a slight decline in rank and sales over the past few months. Starting from a strong position at rank 3 in May 2024, CQ (Cannabis Quencher) dropped to rank 4 in June and remained there through August. This shift is notable as competitors like Uncle Arnie's have shown a significant upward trend, moving from rank 4 in May to rank 2 by August, with sales increasing from $285,848 to $404,275. Similarly, tonic maintained a steady rank 2 until August, when it dropped to rank 3, though its sales remained robust, peaking at $404,211 in July before slightly declining. Meanwhile, Vibations and Spring Lake Craft Infusions have maintained lower ranks, indicating less competitive pressure from these brands. The data suggests that while CQ (Cannabis Quencher) remains a strong player, it faces increasing competition from rapidly growing brands like Uncle Arnie's and tonic, necessitating strategic adjustments to regain its higher market position.
Notable Products
In August 2024, the top-performing product for CQ (Cannabis Quencher) was Ginger Ale Soda (100mg THC, 355ml, 12oz), which secured the first rank with sales reaching 5249 units. The Old Fashioned Lemonade Shot (100mg THC, 2oz), previously holding the top spot for several months, dropped to second place. Strawberry Lemonade Shot (100mg THC, 2oz) improved its position from fourth to third, showing a notable rise in popularity. Wildberry Guava Agua Fresca Shot (100mg THC, 2oz) climbed from fifth to fourth place, indicating a positive trend. Meanwhile, Caffeinated Cola Soda (100mg THC, 12oz) fell to fifth place after maintaining the third rank for two consecutive 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.
