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Aug-2024
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Overview
Market Insights Snapshot
In California, Drops has shown consistent performance in the Edible category, maintaining a steady rank around the 11th and 12th positions from May to August 2024. This stability indicates a solid market presence, though there is room for improvement to break into the top 10. Notably, the sales figures have seen a slight fluctuation with a dip in June and July but a rebound in August, suggesting seasonal or promotional impacts on consumer purchasing behavior. Drops' ability to recover and maintain its ranking highlights its resilience in a competitive market.
In contrast, Oregon has proven to be a stronghold for Drops, consistently holding the 3rd position in the Edible category from May through August 2024. This consistent top-tier ranking is complemented by a steady increase in sales, peaking in July and maintaining high levels into August. The sustained high ranking and growing sales figures in Oregon suggest that Drops has a loyal customer base and effective market strategies in this state. However, the absence of rankings in other states indicates potential areas for growth and market expansion.
Competitive Landscape
In the competitive landscape of the Edible category in Oregon, Drops consistently holds the third rank from May to August 2024. This stable position highlights its strong market presence, although it faces stiff competition from top-ranked Wyld and second-ranked Gron / Grön, both of which maintain their respective positions throughout the same period. Notably, Wyld shows a robust upward trend in sales, potentially widening the gap between itself and Drops. Meanwhile, Smokiez Edibles and Mule Extracts remain stable at the fifth and fourth positions, respectively, posing no immediate threat to Drops' rank. However, the consistent performance of these competitors suggests a highly competitive market, emphasizing the need for Drops to innovate and differentiate to maintain or improve its standing.
Notable Products
In August 2024, the top-performing product from Drops was Active - Lemon Jelly (100mg), maintaining its first-place ranking from July with sales of $19,449. The CBD:THC 2:1 Heavy Blackberry Jelly 2-Pack (200mg CBD, 100mg THC, 0.42oz) moved up to the second position, showing a consistent improvement from its third-place ranking in July. The CBD/THC 2:1 Blackberry Jellies 20-Pack (200mg CBD, 100mg THC) held steady in third place, reflecting stable sales performance. Indica Cherry Jelly Gummies (100mg) remained in fourth place, demonstrating steady demand despite lower sales in previous months. Notably, Cherry Rosin Gummies 2-Pack (100mg) entered the top five in August, indicating a positive reception in its recent launch.
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.
