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Aug-2024
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Overview
Market Insights Snapshot
Peak Extracts has shown notable performance variations across different categories and states in recent months. In Oregon, the brand has maintained a steady presence in the Tincture & Sublingual category, holding the 11th rank in both May and June 2024, before slipping slightly to 12th in July and falling out of the top 30 by August. This indicates a downward trend in this category, possibly due to increased competition or changing consumer preferences. However, the brand's performance in the Topical category in Oregon was impressive in May 2024, where it secured the 4th rank, though it did not maintain its position in the following months, suggesting a potential challenge in sustaining market share.
Despite the fluctuations in category rankings, Peak Extracts' overall sales figures reflect the dynamic nature of the cannabis market. For instance, the sales in the Tincture & Sublingual category dropped from $22,138 in May to $11,537 in July, highlighting a significant decline. This could imply a need for strategic adjustments to regain market position. The absence of Peak Extracts from the top 30 in the Topical category after May suggests either a sharp decline in sales or a surge in competition. These trends underscore the importance of continuous market analysis and adaptation for Peak Extracts to navigate the evolving landscape effectively.
Competitive Landscape
In the Oregon Tincture & Sublingual category, Peak Extracts has experienced noticeable fluctuations in rank and sales over the past few months. In May 2024, Peak Extracts held the 11th position, maintaining this rank in June before dropping to 12th in July and falling out of the top 20 in August. This decline in rank is mirrored by a significant drop in sales from $22,138 in May to $11,537 in July. Competitors such as Medicine Farm and Sun God Medicinals have shown more stable performance, with Medicine Farm improving its rank from 14th in May to 11th in July and Sun God Medicinals consistently staying within the top 20. Notably, Luminous Botanicals was ranked 12th in May but did not appear in the top 20 in subsequent months, indicating a similar volatility in the market. These trends suggest that while Peak Extracts has had strong months, it faces stiff competition and fluctuating consumer preferences, highlighting the need for strategic adjustments to regain and stabilize its market position.
Notable Products
In August 2024, the top-performing product for Peak Extracts was CBD/THC 2:1 Rescue Rub (100mg CBD, 50mg THC, 1oz) in the Topical category, securing the first rank with sales of 129 units. CBD/THC 2:1 Rescue Rub (200mg CBD, 100mg THC, 2oz) remained consistent at the second rank, maintaining a strong presence across the months. CBD/THC 2:1 Nice Tsunami Tincture (400mg CBD, 200mg THC, 2oz, 60ml) climbed to the third rank, indicating a notable improvement from its previous fifth rank in June. High CBD Sour Pineapple Tincture (937mg CBD, 2oz) saw a slight decline, moving from the third rank in July to the fourth rank in August. High THC Rescue Rub (100mg THC, 1oz) entered the top five for the first time, securing the fifth rank in August.
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.
