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Aug-2024
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Overview
Market Insights Snapshot
Heady Tree has experienced a mixed performance across categories and states over the past few months. In New York, the brand's standing in the Flower category has seen a decline, moving from 27th in May to falling out of the top 30 by August. This downward trend is concerning, as it indicates a significant drop in market presence. Conversely, the Pre-Roll category in New York has shown more resilience, with Heady Tree improving its rank from 15th in May to 11th in July, before slightly dropping to 16th in August. This fluctuation suggests that while Heady Tree is facing challenges in the Flower category, it maintains a stronger and more competitive position in the Pre-Roll segment.
In terms of sales performance, Heady Tree's Pre-Roll category in New York has seen a notable increase, with sales peaking in July before slightly dipping in August. This trend highlights the brand's ability to appeal to consumers in the Pre-Roll market, even amidst slight rank fluctuations. On the other hand, the Flower category has not fared as well, with a consistent decline in sales from May to August, reflecting the brand's struggle to maintain its foothold in this segment. These movements underscore the importance of strategic focus on categories where Heady Tree shows strength, while addressing the challenges in underperforming areas.
Competitive Landscape
In the competitive landscape of the Pre-Roll category in New York, Heady Tree has experienced notable fluctuations in its ranking over the past few months. Starting at rank 15 in May 2024, Heady Tree saw a dip to rank 20 in June, a significant rise to rank 11 in July, and a slight drop to rank 16 in August. This indicates a volatile but generally positive trend in sales performance. In contrast, competitors like CRU Cannabis and Cheech & Chong's have shown more consistent upward movement, with CRU Cannabis climbing from rank 30 in May to 14 in August, and Cheech & Chong's moving from rank 41 to 17 in the same period. P3 and Head Space also demonstrated significant improvements, with P3 advancing from rank 36 to 18 and Head Space from 33 to 15. These trends suggest that while Heady Tree remains competitive, it faces strong upward momentum from its rivals, which could impact its market share and necessitate strategic adjustments to maintain and improve its position.
Notable Products
In August 2024, the top-performing product for Heady Tree was Glitter Bomb Kief Infused Pre-Roll (1g) in the Pre-Roll category, maintaining its number one position with a notable sales figure of 4594 units. Banana Cream x Jealousy Pre-Roll (1g) climbed to the second spot, showing significant improvement from its previous fourth position in July. Uptown Funk Kief Infused Pre-Roll (1g) held steady at the third rank, while Dante Inferno Kief Infused Pre-Roll (1g) dropped to fourth from its earlier second position. A new entry, Dante Inferno Pre-Roll (1g), debuted at the fifth rank in August. Overall, the rankings indicate dynamic shifts, particularly for Banana Cream x Jealousy Pre-Roll (1g) and Dante Inferno Kief Infused Pre-Roll (1g), reflecting changing consumer preferences.
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.
