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Aug-2024
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Overview
Market Insights Snapshot
Honeybee has demonstrated notable performance in the Edible category across various states, with significant movements in rankings over recent months. In Missouri, Honeybee's ranking in the Edible category has shown a positive trend, improving from 11th place in June 2024 to 6th place by August 2024. This upward movement is indicative of a growing market presence and increasing consumer preference for Honeybee's products in this state. The brand's ability to climb the ranks amidst competition highlights its potential for sustained growth in Missouri's Edible market.
However, it is important to note that Honeybee's performance is not uniformly strong across all states and categories. For instance, in some states, the brand did not make it into the top 30 rankings in certain months, which could be a cause for concern. This variability suggests that while Honeybee is gaining traction in specific markets, there may be challenges or competitive pressures in others. Keeping an eye on these trends and understanding the underlying factors driving these movements will be crucial for stakeholders looking to capitalize on Honeybee's market dynamics.
Competitive Landscape
In the competitive landscape of the edible cannabis market in Missouri, Honeybee has demonstrated notable upward momentum in recent months. Starting at rank 9 in May 2024, Honeybee climbed to rank 6 by August 2024, indicating a positive trend in market positioning. This improvement is particularly significant given the competitive pressure from brands like Smokiez Edibles, which consistently held top positions but saw a slight decline from rank 2 to rank 4 over the same period. Additionally, Kosmik Brands experienced a rise from rank 7 to rank 5, suggesting a competitive surge that Honeybee successfully navigated. Meanwhile, Wana dropped from rank 5 to rank 7, which may have contributed to Honeybee's improved ranking. The data indicates that Honeybee's sales trajectory is on an upward trend, with a significant increase in sales from May to August 2024, positioning it favorably against competitors like Greenlight, which also showed improvement but remained behind Honeybee. This competitive analysis highlights Honeybee's growing market presence and potential for continued success in the Missouri edibles market.
Notable Products
In August 2024, the top-performing product from Honeybee was the CBD/THC 1:1 Sour Watermelon Passionfruit High Potency Gumdrops 20-Pack (300mg THC, 300mg CBD), which saw a significant rise from 4th place in July to 1st place, with sales reaching 2890 units. The Blood Orange Strawberry High Potency Gumdrops 20-Pack (300mg) maintained its 2nd place ranking consistently over the past four months, with sales hitting 2828 units in August. The CBD/THC 1:1 Sour Watermelon Passionfruit Gumdrops 20-Pack (100mg CBD, 100mg THC) held steady in 3rd place throughout the period. The Blood Orange Strawberry Gumdrops 20-Pack (100mg), previously the top product, dropped to 4th place in August. Lastly, the Black Cherry Cola High Potency Gumdrops 20-Pack (300mg) entered the rankings in July and remained in 5th place in August.
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.
