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Jul-2024
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Overview
Market Insights Snapshot
Lillybear's performance in the Maryland market has seen a gradual decline over the past few months, particularly in the Edible category. Starting from a rank of 22 in April 2024, the brand has seen a steady drop, reaching the 30th position by July 2024. This downward trend is indicative of increasing competition or possibly a shift in consumer preferences within the state. The sales figures also reflect this decline, with a notable drop from $64,140 in April to $32,495 by July. This consistent decline suggests that Lillybear might need to reassess its strategies or product offerings to regain its foothold in the Maryland market.
Interestingly, Lillybear's presence in other states or provinces is not highlighted, suggesting that the brand has not made it into the top 30 rankings in those regions for the Edible category. This absence can be seen as an area of concern, indicating that Lillybear may be struggling to establish itself beyond Maryland. The lack of ranking in other states could be due to various factors, including market saturation, regional preferences, or possibly limited distribution channels. For a brand aiming to grow, understanding and addressing these factors will be crucial for Lillybear's future performance and expansion.
Competitive Landscape
In the Maryland edible cannabis market, Lillybear has experienced a notable decline in rank and sales over the past few months. Starting at rank 22 in April 2024, Lillybear fell to rank 30 by July 2024, indicating a downward trend. This decline is further highlighted when compared to competitors such as Fireball Cannabis and Lux by CannAscend. Fireball Cannabis, despite fluctuating ranks, managed to stay within the top 30, while Lux by CannAscend showed a similar pattern but with a higher peak in May 2024. The sales figures for Lillybear also reflect this downward trajectory, with a significant drop from April's $64,140 to July's $32,495. This trend suggests that Lillybear may need to reassess its market strategy to regain its competitive edge in Maryland's edible category.
Notable Products
In July 2024, the top-performing product from Lillybear was Vanilla Freeze Dried Astro Bites 10-Pack (100mg), maintaining its position at rank 1 with sales of 376 units. Strawberry Freeze Dried Astro Bites 10-Pack (100mg) rose to rank 2, despite a slight drop in sales to 349 units. Chocolate Freeze Dried Astro Bites 10-Pack (100mg) dropped to rank 3, continuing a downward trend from its peak in May. Milk Chocolate Hazelnut Coffee Creamer 10-Pack (100mg) remained steady at rank 4, showing a small increase in sales to 245 units. Neapolitan Freeze Dried Astro Bites 10-Pack (100mg) fell to rank 5, experiencing a significant drop in sales to 152 units from its previous months.
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.
