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Aug-2024
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Overview
Market Insights Snapshot
Encore Edibles has demonstrated consistent performance in the Illinois market, maintaining a steady rank of 4.0 from May to August 2024 in the Edible category. This stability is complemented by a gradual increase in sales, indicating a strong foothold in the region. In contrast, their performance in Maryland has seen more fluctuation, with rankings moving from 2.0 in May to 5.0 in July, before recovering to 3.0 in August. This volatility, coupled with a noticeable dip in sales during the middle months, suggests a competitive market environment where Encore Edibles is striving to regain its earlier momentum.
In Massachusetts, Encore Edibles has maintained a relatively stable presence, fluctuating slightly between ranks 15.0 and 16.0. Despite this, the brand has managed to increase its sales significantly, indicating growing consumer acceptance and market penetration. Meanwhile, in Ohio, the brand has experienced a downward trend in rankings, moving from 4.0 in May to 6.0 in August. However, this decline in rank contrasts with a substantial increase in sales, suggesting that while competition may be intensifying, Encore Edibles is still expanding its market share. In Nevada, the brand's ranking has hovered around 7.0 to 8.0, with a slight uptick in sales by August, reflecting a stable yet competitive positioning.
Competitive Landscape
In the competitive landscape of the Illinois edible cannabis market, Encore Edibles consistently holds the fourth rank from May to August 2024. Despite maintaining a steady position, Encore Edibles faces stiff competition from brands like Wana and Wyld, which consistently occupy the second and third ranks, respectively. The sales figures for Encore Edibles show a positive trend, with an increase from $1,448,323 in May to $1,561,857 in August, indicating a growing consumer base. However, the brand still trails behind Wana and Wyld, whose sales are significantly higher. Meanwhile, Ozone remains in the fifth position, and The Funnies Gummies shows an upward trajectory, moving from eighth to sixth place over the same period. This competitive environment suggests that while Encore Edibles is performing well, there is room for growth and the need for strategic marketing efforts to climb higher in the rankings.
Notable Products
In August 2024, Encore Edibles' top-performing product was Indica Concord Grape RSO Gummies 10-Pack (100mg), maintaining its first-place ranking from the previous months with sales reaching 14,732 units. Sativa Tropical Mango RSO Gummies 10-Pack (100mg) held the second position, up from third place in June, with notable sales of 13,275 units. Sour Black Cherry RSO Gummies 10-Pack (100mg) climbed to the third spot, continuing its upward trend from fifth place in June. THC/CBN 2:1 Sweet Pomegranate Punch Gummies 10-Pack (100mg THC, 50mg CBN) moved up to fourth place, showing a significant recovery in sales. Sativa Sweet Strawberry Gummies 10-Pack (100mg) secured the fifth position, despite not being ranked in May and July, indicating a resurgence in popularity.
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.
