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Aug-2024
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Overview
Market Insights Snapshot
Dr. May has shown a varied performance across different categories and states. In California, the brand has maintained a steady presence in the Tincture & Sublingual category, with rankings fluctuating slightly but consistently staying within the top 20. Specifically, Dr. May moved from 16th place in May 2024 to 18th in June, and then improved to 15th place in both July and August. This indicates a stable demand for their products in this category, with a notable increase in sales from $19,472 in June to $25,930 in August. Conversely, in the Topical category, Dr. May's performance has been more volatile, peaking at 11th place in June and August but dropping to 13th in May and July. This suggests a fluctuating yet competitive position within this segment.
It is important to note that Dr. May's absence from the top 30 brands in other states or categories highlights areas where the brand could improve its market penetration. The fact that Dr. May did not appear in the top 30 rankings for other categories or states could be seen as a potential area for growth or a sign of strong competition. The consistency in the Tincture & Sublingual category in California, coupled with the fluctuations in the Topical category, underscores the brand's varying degrees of success and potential areas for strategic focus. Observing these trends can provide valuable insights into market dynamics and opportunities for Dr. May to enhance its market presence.
Competitive Landscape
In the competitive landscape of the Tincture & Sublingual category in California, Dr. May has shown a relatively stable performance from May to August 2024, maintaining a rank within the top 20 brands. Dr. May's rank fluctuated slightly, starting at 16th in May, dipping to 18th in June, and then rising to 15th in both July and August. This stability is notable when compared to competitors such as My Blue Dove, which saw a significant drop from 10th to 17th between June and July, and Moods Spray, which also experienced fluctuations but ended August at 14th, just one spot ahead of Dr. May. Meanwhile, Carter's Aromatherapy Designs (C.A.D.) showed more consistent performance, remaining in the 13th position for July and August. The brand High Power was not in the top 20 for July, indicating a more volatile presence in the market. These insights suggest that while Dr. May is not leading the category, its consistent ranking amidst competitors with more dramatic shifts could indicate a loyal customer base and steady sales trajectory, making it a reliable choice for consumers.
Notable Products
In August 2024, the top-performing product for Dr. May was the CBD/THC 1:1 Balance Pro Balm (500mg CBD, 500mg THC, 3.75oz, 110ml) in the Topical category, maintaining its consistent rank of 1st place with sales of 220 units. The CBD:THC 1:20 Relax 1000 Formula Tincture (50mg CBD, 950mg THC, 30ml) climbed to 2nd place from 3rd in July, showing a notable increase in sales to 166 units. The CBD/THC 1:20 Relax Twist Up Balm (5mg CBD, 100mg THC) dropped to 3rd place but still performed strongly with 157 units sold. The CBD:THC 20:1 Focus 1000 Tincture (950mg CBD, 50mg THC, 1oz, 30ml) fell to 4th place from 1st in July, indicating a significant drop in sales. Lastly, the newly ranked CBD:THC 1:1 Balance 1000 Formula With Coconut Oil Tincture (500mg CBD, 500mg THC, 30ml, 1oz) made its debut in 5th place, showing promising entry-level performance.
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.
