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Aug-2024
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Overview
Market Insights Snapshot
Space Gem has shown a consistent performance in the Edible category within California over the past few months. The brand maintained its 19th position from May through July of 2024, indicating a stable market presence. Notably, in August 2024, Space Gem improved slightly to the 18th rank, suggesting a positive trend in consumer preference or marketing effectiveness. This stability and slight upward movement in ranking can be seen as a positive indicator, especially in a competitive market like California. However, it is worth noting that the brand has not broken into the top 15, which could be an area for strategic focus.
In terms of sales figures, Space Gem's performance has been relatively consistent, with a slight dip in June but a recovery in July and August. For instance, the sales in July 2024 were slightly higher than in June, indicating a rebound. This consistency in sales, coupled with the minor improvement in ranking, suggests that Space Gem has a loyal customer base but might need to innovate or expand its product line to climb higher in the rankings. The absence of Space Gem in the top 30 brands in other states or categories highlights the brand's limited geographical reach and category penetration, which presents both a challenge and an opportunity for growth.
Competitive Landscape
In the competitive landscape of the California edible cannabis market, Space Gem has shown a slight upward trend in its ranking over the summer months of 2024. Starting at 19th place from May to July, Space Gem moved up to 18th place in August. This improvement is notable when compared to competitors like Dr. Norm's, which experienced a decline from 18th to 19th place over the same period. Meanwhile, ABX / AbsoluteXtracts maintained a steady 17th place ranking, and Petra consistently held the 16th spot. The consistent performance of these competitors indicates a stable market, but Space Gem's slight rise suggests a positive reception and potential for increased market share. This upward movement, despite the competitive pressure, highlights Space Gem's resilience and growing consumer preference.
Notable Products
In August 2024, the top-performing product for Space Gem was Sour SpaceDrops Gummies 10-Pack (100mg), maintaining its number one rank with sales of 6109 units. Sweet Space Drops Gummies 10-Pack (100mg) held steady at the second position, showing consistent performance across the months. Premium Sour Assorted Made With Ice Water Gummy Drops 10-Pack (100mg) remained in third place, although its sales saw a dip from July. The CBD/THC 1:1 SpaceDrops Ice Water Hash Gummies 10-Pack (50mg CBD, 50mg THC) stayed at the fourth rank, mirroring its position from June and July. Sour Watermelon Mind Expanding Belts 10-Pack (100mg) re-entered the top five in August, showing a notable improvement from previous months where it was not ranked.
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.
