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Aug-2024
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Overview
Market Insights Snapshot
Lighthouse Sciences has demonstrated varied performance across different categories and states. In Ohio, the brand has seen significant movement in the Concentrates category, starting at rank 6 in May 2024 and dropping to rank 14 by August 2024. This decline in ranking, despite a notable sales figure of $83,673 in May, suggests a competitive market landscape. On the other hand, their performance in the Topical category has been outstanding, maintaining the top position consistently from June through August 2024, with sales showing a positive trend, reaching $197,147 in August. However, the absence of Lighthouse Sciences in the top 30 brands for Edibles in May and June, only appearing at rank 43 in July, indicates a struggle to capture market share in this segment.
In the Vapor Pens category, Lighthouse Sciences has shown some resilience in Ohio, moving from rank 35 in May 2024 to rank 27 in July before slipping back to rank 31 in August. This fluctuation suggests a volatile market position, despite increasing sales from $45,583 in May to $92,605 in August. The brand's varied performance across categories highlights both strengths and areas needing improvement. Their top performance in Topicals and the notable presence in Concentrates contrast sharply with their challenges in Edibles and the fluctuating ranks in Vapor Pens, indicating a need for strategic adjustments to maintain and grow their market share across all categories.
Competitive Landscape
In the Ohio Topical cannabis market, Lighthouse Sciences has demonstrated a strong and consistent performance, maintaining the top rank from June to August 2024. This sustained leadership is particularly notable given the competitive landscape, where Doctor Solomon's held the top position in May 2024 but dropped to the second rank from June onwards. The sales figures for Lighthouse Sciences have shown a positive trajectory, peaking at 197,147 in August 2024, which is significantly higher than Doctor Solomon's sales of 168,933 in the same month. Another competitor, Avexia, has consistently ranked third or fourth, with a notable sales increase in August 2024, indicating potential growth but still trailing behind Lighthouse Sciences. These dynamics suggest that while Lighthouse Sciences has solidified its market leadership, it must continue to innovate and maintain quality to fend off rising competitors and sustain its top position.
Notable Products
In August 2024, the top-performing product for Lighthouse Sciences was the CBD/THC 6:1 MJ Muscles & Joint Balm (3000mg CBD, 500mg THC, 2oz), maintaining its first-place ranking with sales reaching 2658 units. The Grandpa's Legend Cured Resin Disposable (0.5g) secured the second position, showing a notable entry in the rankings. The CBD/THC 6:1 MJ Muscles & Joint Balm (1500mg CBD, 250mg THC, 1oz) climbed to the third spot from its previous fourth position in July. The Supreme Diesel x GMO Legend Live Resin Diamond Disposable (0.5g) was ranked fourth, marking its first appearance in the top ranks. Lastly, the CBD/THC 3:1 Muscle & Joint Balm (900mg CBD, 300mg THC, 1oz) dropped to the fifth position from third place in July, demonstrating a slight decline in its ranking.
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.
