Aug-2024
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Overview
Market Insights Snapshot
Savvy's performance across various states and categories has shown significant fluctuations over the past few months. In Arizona, the brand's ranking in the Flower category has seen a steady decline, dropping from 9th in May 2024 to 26th in August 2024. This downward trend is mirrored by a substantial decrease in sales, indicating potential challenges in maintaining market share. Conversely, in Illinois, Savvy's Edible category has shown consistent improvement, moving from 16th in May 2024 to 14th in August 2024, accompanied by a rise in sales. Such mixed results highlight the importance of regional strategies tailored to specific market dynamics.
In Maryland, Savvy has maintained a relatively stable position in the Flower category, fluctuating between 5th and 8th place from May to August 2024. This stability is a positive sign, although there has been a slight decrease in sales. Meanwhile, in Ohio, the brand's performance in the Vapor Pens category has improved, with rankings moving up from 13th in May 2024 to 7th in August 2024, reflecting a significant increase in sales. However, the Flower category in Ohio tells a different story, with a sharp drop from 4th to 29th place over the same period, indicating potential issues in product appeal or competition. These varied performances underscore the complexity of the cannabis market and the need for adaptive strategies.
Competitive Landscape
In the competitive Illinois Flower category, Savvy has experienced notable fluctuations in its rank and sales over the past few months. Starting at rank 6 in May 2024, Savvy maintained this position through June but dropped to rank 8 in July and August. This decline in rank is mirrored by a decrease in sales, from a high of $3,274,428 in May to $2,403,677 in August. In contrast, Nature's Grace and Wellness has shown a more stable performance, consistently ranking in the top 10 and even improving from rank 8 in June to rank 6 in July and August, with a corresponding increase in sales. Similarly, Cresco Labs has maintained a steady rank around 7th place, while Aeriz has consistently held the 9th position. Meanwhile, Midweek Friday has made significant strides, climbing from rank 17 in May and June to rank 10 by August. These shifts indicate a highly competitive market where Savvy's position is being challenged by both stable and rising competitors, suggesting a need for strategic adjustments to regain and sustain higher rankings and sales.
Notable Products
In August 2024, the top-performing product for Savvy was Guap - Jungle Juice Macro Dosed Gummy (50mg), maintaining its number one rank for the fourth consecutive month with sales reaching 21,688 units. Following closely, Guap - Blue Magic Macro Dose Gummy (100mg) held the second position, showing a significant increase in sales to 20,063 units. Guap - Blue Magic Macro Dose Gummy (25mg) remained steady in third place, continuing its consistent performance over the past months. The Happy Hour - Summer Melon Distillate Disposable (0.3g) re-entered the rankings in fourth place, showing a notable recovery in sales. New to the top five, Vacay - Peaches and Cream Distillate Cartridge (1g) emerged in fifth place, marking its first appearance in the 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.