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Aug-2024
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Overview
Market Insights Snapshot
Jade Nectar has shown a consistent performance in the California market, particularly in the Tincture & Sublingual category. Over the past few months, the brand has maintained a strong presence, holding the 6th position from June to August 2024, after climbing from 8th in May. This steady ranking is indicative of a stable customer base and effective market strategies. The brand's sales figures have also seen a positive trend, with a notable increase from $154,615 in May to $175,660 in August. This upward movement suggests growing consumer interest and possibly successful new product launches or marketing campaigns.
However, Jade Nectar's performance in other states and categories appears to be less prominent, as they do not rank within the top 30 brands in those areas. This could be seen as a potential area for growth or a challenge that the brand needs to address. The absence from the top rankings in other states might indicate either a lack of market penetration or stiff competition. For a brand aiming to expand its footprint, understanding the dynamics and consumer preferences in these regions could be crucial. The California market's success could serve as a model for strategies in other states, but the brand needs to tailor its approach to meet the unique demands and regulatory environments of each market.
Competitive Landscape
In the competitive landscape of the Tincture & Sublingual category in California, Jade Nectar has shown a positive trend in its ranking and sales performance over the past few months. Notably, Jade Nectar improved its rank from 8th in May 2024 to 6th by June 2024, maintaining this position through August 2024. This upward movement is significant, especially when compared to competitors like Proof, which dropped from 7th to 8th place in the same period, and ABX / AbsoluteXtracts, which climbed from 9th to 7th. Additionally, Jade Nectar's sales increased from $154,615 in May 2024 to $175,660 in August 2024, indicating a robust growth trajectory. This contrasts with Mary's Medicinals, which remained steady at 5th place but experienced a decline in sales over the same period. Meanwhile, VET CBD consistently held the 4th position but saw fluctuating sales, peaking in July 2024 before dropping in August 2024. These insights suggest that Jade Nectar is effectively gaining market share and could continue to rise in rank if this trend persists.
Notable Products
In August 2024, the top-performing product for Jade Nectar was CBD/THC 30:1 CBD Drops (900mg CBD, 30mg THC, 30ml), maintaining its first place ranking and achieving sales of $1,607. Indica High Potency Tincture (1000mg THC, 30ml) held steady in second place, showing consistent performance over the past months. Indica Sativa High Potency Blend Tincture (1000mg THC, 30ml) climbed to the third spot from fifth place in July 2024. CBD/THC 20:1 CBD Drops for Pets (300mg CBD, 15mg THC, 30ml) remained in fourth place, indicating stable demand. Sativa Tincture Drops (1000mg THC, 30ml) dropped to fifth place from third in July 2024, showing a slight decline in sales.
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.
