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Aug-2024
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Overview
Market Insights Snapshot
Luminous Botanicals has shown a notable presence in the Oregon market, particularly in the Tincture & Sublingual category. In May 2024, the brand ranked 12th in this category, indicating a strong position among competitors. However, it is important to note that in the subsequent months of June, July, and August 2024, Luminous Botanicals did not appear in the top 30 rankings. This absence suggests a significant drop in their market performance, which could be attributed to various factors such as increased competition or shifts in consumer preferences.
Despite the decline in rankings after May, the initial strong performance in Oregon highlights Luminous Botanicals' potential in the Tincture & Sublingual category. The brand's ability to secure a top 12 position indicates a level of consumer trust and product quality that could be leveraged for future growth. The sales figures from May 2024, which amounted to $13,863, provide a benchmark for their market potential. Moving forward, monitoring their strategies and market adaptations will be crucial to understanding their long-term performance in this competitive landscape.
Competitive Landscape
In the Oregon Tincture & Sublingual category, Luminous Botanicals has experienced notable fluctuations in its competitive positioning over recent months. In May 2024, Luminous Botanicals held the 12th rank but subsequently dropped out of the top 20 in the following months, indicating a potential challenge in maintaining market share. Competitors like Peak Extracts and Medicine Farm have shown more consistent performance, with Peak Extracts maintaining a steady presence around the 11th and 12th ranks and Medicine Farm showing a slight improvement from 14th in May to 11th in July before dropping to 12th in August. Elysium Fields also displayed a consistent but slightly declining trend, hovering around the 13th and 14th ranks. These trends suggest that while Luminous Botanicals had a strong start, it faces stiff competition from brands that are either maintaining or slightly improving their positions, which could impact its sales and market visibility in the long term.
Notable Products
In August 2024, the top-performing product from Luminous Botanicals was the CBD/THC 1:1 Meadow Blend Tincture (375mg CBD, 375mg THC, 30ml), which climbed to the number one spot with sales of 57 units. The CBD/THC 1:9 Dew Pleasure Oil (25mg CBD, 225mg THC, 10ml) followed closely, rising to the second position from third in July with 56 units sold. The CBD/THC 9:1 Earth Blend Tincture (675mg CBD, 75mg THC, 1oz) secured the third rank, showing significant improvement from its absence in July. The CBD:THC Sky Blend Tincture (40mg CBD, 340mg THC, 15ml, 0.5oz) dropped to fourth place after being second in July, with 49 units sold. Notably, the CBD:THC Sky Blend Tincture (75mg CBD, 675mg THC, 1oz, 30ml) maintained its fourth position from May and June but did not feature in July's rankings.
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.
