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Aug-2024
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Overview
Market Insights Snapshot
Kingpen's performance in the California market shows a mixed trajectory across different categories. In the Pre-Roll category, Kingpen maintained a strong presence, although there was a slight decline in rankings from May to August 2024. Specifically, they held the 6th position in May and June but dropped to 9th in July and further to 10th in August. Despite this drop, Kingpen's sales figures remained robust, with a minor decline from $1,747,059 in May to $1,327,263 in August. This indicates a consistent demand, even if the competition in the Pre-Roll category intensified over the summer months.
In the Vapor Pens category, Kingpen's performance was more volatile. The brand ranked 27th in May, dropped to 30th in June, and fell out of the top 30 in July, only to recover back to the 27th position in August. This fluctuation suggests a challenging competitive landscape in the Vapor Pens category. However, it's worth noting that despite these ranking shifts, Kingpen's sales in this category saw an upward trend from $529,326 in July to $753,134 in August, indicating a potential rebound in consumer preference or effective marketing strategies during that period. This volatility could be a point of interest for stakeholders analyzing market dynamics in California.
Competitive Landscape
In the competitive landscape of the California pre-roll category, Kingpen has experienced a notable decline in rank and sales over the past few months. Starting at rank 6 in both May and June 2024, Kingpen dropped to rank 9 in July and further to rank 10 in August. This downward trend in rank is mirrored by a decrease in sales, from over $1.7 million in May to approximately $1.3 million in August. In contrast, West Coast Cure has shown a more stable and slightly improving performance, moving from rank 10 in May to rank 8 in August, with sales consistently rising to surpass Kingpen's by August. Similarly, Time Machine has made significant strides, climbing from rank 13 in May to rank 9 in August, with a corresponding increase in sales. Meanwhile, Lime and Sluggers have maintained relatively stable positions, with Lime consistently holding rank 11 and Sluggers fluctuating slightly but remaining within the top 12. These shifts indicate that Kingpen faces increasing competition and may need to innovate or adjust its strategies to regain its market position.
Notable Products
For August 2024, the top-performing product from Kingpen was the Kingroll - Cannalope Ak x Cannalope Kush Oil Infused Pre-Roll (1.3g), maintaining its first-place rank from May and June, with notable sales of $10,454. The Kingroll Jr - Cannalope Ak x Cannalope Kush Infused Pre-Roll 4-Pack (3g) secured the second position, consistent with its rank in June. The Kingroll - Mango Kush x Cannalope Kush Infused Pre-Roll (1.3g) dropped to third place from its previous first position in July. The Cannalope Kush Live Resin Cartridge (1g) debuted in the rankings at fourth place. Lastly, the Kingroll Jr - Mango Kush x Cannalope Kush Infused Pre-Roll 4-Pack (3g) held the fifth spot, showing a decline from its third-place ranking 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.
