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Jun-2024
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Overview
Market Insights Snapshot
The Heirloom Collective has demonstrated significant progress in the Massachusetts cannabis market, particularly within the Concentrates category. Over a span of four months, their ranking improved from 23rd in March 2024 to 7th in June 2024, indicating a strong upward trend. This substantial rise in ranking is mirrored by a notable increase in sales, which nearly quadrupled over the same period. However, the performance in other categories such as Edibles and Pre-Rolls has been more erratic. While they managed to break into the top 30 for Edibles in May 2024, their position slipped back to 33rd in June 2024. Similarly, in the Pre-Roll category, they fluctuated between 44th and 53rd, suggesting a less consistent performance.
In the Flower category, The Heirloom Collective faced challenges, with rankings consistently below the top 30, peaking at 67th in March 2024 and dropping to 85th by June 2024. This decline is coupled with a significant reduction in sales, highlighting potential issues in this segment. On the other hand, the brand showed strong performance in the Topicals category, maintaining a top 10 position from April to June 2024, despite not being ranked in March. Interestingly, the Vapor Pens category saw The Heirloom Collective debut at 98th in April 2024 but did not sustain this presence in the subsequent months. This mixed performance across different categories and the varying rankings provide a nuanced picture of The Heirloom Collective's market dynamics in Massachusetts, revealing both strengths and areas for potential improvement.
Competitive Landscape
The Heirloom Collective has shown a remarkable upward trajectory in the Massachusetts concentrates market over the past few months. Starting from a rank of 23 in March 2024, the brand has climbed steadily to secure the 7th position by June 2024. This significant improvement in rank is indicative of a strong increase in consumer preference and market penetration, with sales nearly quadrupling from $45,408 in March to $161,943 in June. In comparison, competitors like Cloud Cover (C3) and Bountiful Farms have shown fluctuating ranks, with Cloud Cover (C3) maintaining a consistent but lower rank around 9th position, and Bountiful Farms experiencing a drop from 6th to 10th position over the same period. Meanwhile, Harbor House Collective and Cultivators Classic have maintained their strong positions within the top 10, but The Heirloom Collective's rapid ascent suggests a growing competitive edge. This trend highlights The Heirloom Collective's increasing market share and potential for continued growth in the Massachusetts concentrates category.
Notable Products
In June 2024, the top product from The Heirloom Collective was Kitchen Sink Pre-Roll (0.8g) in the Pre-Roll category, maintaining its first-place ranking for four consecutive months with sales of $2929. Slap N Tickle Pre-Roll (0.8g) surged to second place with notable sales, while Tiger's Eye Pre-Roll (0.8g) entered the rankings at third place. Kitchen Sink Pre-Roll 5-Pack (2.5g) secured the fourth position. Black Garlic Pre-Roll (0.8g) consistently held the fifth spot, though its sales decreased compared to previous months. Overall, the rankings show stability for Kitchen Sink Pre-Roll (0.8g) and Black Garlic Pre-Roll (0.8g), while Slap N Tickle Pre-Roll (0.8g) and Tiger's Eye Pre-Roll (0.8g) emerged as strong contenders in June 2024.
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