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Aug-2024
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Overview
Market Insights Snapshot
Goody Bag's performance in the Illinois edibles market has shown a slight decline in the past few months. The brand maintained a consistent ranking at 24th place from May to June 2024, slightly improving to 23rd place in July, before dropping back to 24th in August. This suggests a stable but slightly downward trend in their market position. Sales figures also reflect this trend, with a noticeable decrease from $248,186 in May to $168,997 in August. This consistent ranking within the top 30 indicates that while Goody Bag is a recognized player in the Illinois edibles market, it faces challenges in maintaining its sales volume.
In contrast, Goody Bag's performance in the Michigan edibles market has been less stable and more concerning. The brand did not rank within the top 30 in any of the months from May to August 2024, with ranks fluctuating between 49th and 56th place. Sales have shown a significant decline from $103,363 in May to $52,893 in August, indicating a sharp drop in consumer demand or market presence. This lack of top 30 rankings highlights a critical area for improvement for Goody Bag in Michigan, suggesting that the brand needs to reassess its strategies to better compete in this market.
Competitive Landscape
In the Illinois edible cannabis market, Goody Bag has experienced notable fluctuations in rank and sales over the past few months, indicating a competitive landscape. From May to August 2024, Goody Bag's rank hovered around the mid-20s, specifically moving from 24th to 23rd and back to 24th. This stability contrasts with the more volatile performance of competitors such as Aeriz, which saw a significant drop from 17th to 24th before recovering slightly to 22nd. Meanwhile, Enliven Edibles demonstrated a stronger presence, ranking as high as 21st in June before slipping to 25th in August. Despite these shifts, Goody Bag's sales have been on a downward trend, decreasing from $248,186 in May to $168,997 in August. This decline is less steep compared to Kushy Punch, which consistently ranked lower and experienced a sales drop from $177,395 to $149,093 over the same period. The competitive dynamics suggest that while Goody Bag maintains a relatively stable rank, there is a pressing need to address the declining sales to strengthen its market position.
Notable Products
In August 2024, the top-performing product from Goody Bag was the CBD/THC 1:1 Sour Margarita Gummies 10-Pack (100mg CBD, 100mg THC), leading the rankings after previously being 4th in May, 5th in June, and 4th in July. The Citrus Gummies 10-Pack (100mg) secured the second position, slightly down from its first place in May but showing a consistent presence in the top five. The Pink Lemonade Gummies 10-Pack (50mg) made a notable entry at the third position for August, despite not appearing in the top ranks in the previous months. Orange Soda RSO Gummies 10-Pack (100mg) ranked fourth, showing a decline from its previous higher rankings in May and June. Finally, Pink Lemonade Gummies 10-Pack (200mg) took the fifth spot, having previously topped the charts in June before dropping out of the rankings in July.
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.
