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Aug-2024
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Overview
Market Insights Snapshot
Head Space has shown a significant upward trajectory in the Pre-Roll category in New York. Starting from a rank of 33 in May 2024, the brand moved up to 15 by August 2024. This remarkable climb indicates a strong market presence and growing consumer preference. The sales figures also reflect this trend, with a substantial increase from $75,336 in May to $268,006 in August. Such a performance suggests that Head Space is successfully capturing consumer interest and gaining market share in this category within the state.
However, it's important to note that Head Space did not make it into the top 30 brands in other states and categories during this period. This absence could be seen as a challenge or a potential area for growth. The brand's concentrated success in New York's Pre-Roll category might highlight a strategic focus or a particularly strong market fit in that state. For stakeholders and industry watchers, understanding the factors behind this localized success could offer valuable insights into Head Space's overall market strategy and future potential.
Competitive Landscape
In the competitive landscape of the New York pre-roll category, Head Space has shown significant improvement in its rank and sales over the past few months. Starting at rank 33 in May 2024, Head Space climbed to rank 15 by August 2024, indicating a strong upward trend. This improvement is notable when compared to competitors like CRU Cannabis, which also saw a rise from rank 30 to 14 in the same period, and Cheech & Chong's, which moved from rank 41 to 17. However, Back Home Cannabis Co. maintained a slightly better performance, advancing from rank 24 to 13. Despite these competitive pressures, Head Space's sales growth has been robust, particularly in August 2024, where it reached $268,006, surpassing both CRU Cannabis and Cheech & Chong's. This positive trajectory suggests that Head Space is effectively capturing market share and could continue to rise in the rankings if current trends persist.
Notable Products
In August 2024, the top-performing product for Head Space was Landing Sequence - Bubble Gum Pre-Roll (1g), which climbed to the number one spot with sales reaching 9213 units. Launch Sequence - GG4 Pre-Roll (1g) maintained a strong position, ranking second and showing a consistent upward trend from previous months. Launch Sequence Pre-Roll (1g) held steady in third place, reflecting stable demand. Deep Space Exploration - Purple Punch Pre-Roll (1g) experienced a significant drop to fourth place, indicating a decline in popularity compared to earlier months. Notably, Bubble Gum Pre-Roll 5-Pack (2.5g) entered the rankings in fifth position, marking its debut in the dataset.
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.
