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Aug-2024
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Overview
Market Insights Snapshot
Lux by CannAscend has experienced varied performance across different states and categories in recent months. In Maryland, the brand's ranking in the Edible category has seen a downward trend, moving from 23rd in May 2024 to 29th by August 2024. This decline is mirrored by a significant drop in sales, from $86,070 in May to $29,920 in August. Such a consistent fall in both ranking and sales might indicate increasing competition or changing consumer preferences in Maryland's edible market.
In Ohio, Lux by CannAscend did not appear in the top 30 brands for the Edible category until August 2024, when it ranked 50th. The absence from the top 30 in previous months suggests that the brand has struggled to establish a strong presence in Ohio's competitive market. This is further highlighted by the relatively low sales figure of $11,601 in August, indicating that Lux by CannAscend has significant room for growth if it aims to capture a larger market share in Ohio.
Competitive Landscape
In the Maryland edible cannabis market, Lux by CannAscend has experienced a notable decline in rank and sales over the past few months, dropping from 23rd in May 2024 to 29th by August 2024. This decline is significant when compared to competitors such as AiroPro, which maintained a more stable presence, ranking between 18th and 20th from May to July 2024, and ROBHOTS, which showed a slight improvement in rank, moving from 26th in May to 22nd in July before falling back to 26th in August. Additionally, Fireball Cannabis has remained relatively consistent, hovering around the 27th to 29th positions. These trends suggest that Lux by CannAscend may need to reassess its marketing and product strategies to regain its competitive edge in the Maryland edible market.
Notable Products
In August 2024, the top-performing product from Lux by CannAscend was the Smoked Almond Milk Chocolate Caramel Truffles 10-Pack (100mg), maintaining its number one rank from July with sales of 403 units. The Caramel Macchiato Milk Chocolates Truffles 10-Pack (100mg) climbed to second place with notable sales, showing a significant recovery from its third-place position in July. Dark Chocolate Sea Salt Caramels 10-Pack (100mg) held steady in the third position, continuing its consistent performance. Milk Chocolate Sea Salt Caramels 10-Pack (100mg) dropped to fourth place, indicating a slight decline in sales. A new entry, Milk Chocolate Sea Salt Caramel 20-Pack (110mg), debuted in fifth place, showcasing potential for future growth.
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.
