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Aug-2024
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Overview
Market Insights Snapshot
In the Arizona market, Tonic has shown a slight decline in its Beverage category rankings over the past few months. Starting off strong in May 2024 with a 5th place ranking, Tonic maintained this position in June, but saw a slight improvement to 4th place in July, before dropping back to 6th in August. This downward trend in rankings is mirrored by a decrease in sales, with figures falling from $48,472 in May to $27,585 in August. Such a trend might indicate increasing competition or a shift in consumer preferences within this state.
Conversely, in Illinois, Tonic has consistently performed well in the Beverage category, holding the 2nd place ranking from May through July 2024 before slightly dropping to 3rd place in August. Despite this minor drop in ranking, the brand has seen a healthy sales performance, peaking in July with $404,211 and then slightly declining to $361,682 in August. In Michigan, Tonic has maintained a stable 2nd place ranking throughout the four-month period, with sales steadily increasing from $205,524 in May to $262,567 in August. This consistency in Michigan suggests a strong and loyal customer base for Tonic's beverages in the state.
Competitive Landscape
In the competitive landscape of the Illinois cannabis beverage market, tonic has experienced notable fluctuations in its rank and sales over the past few months. While tonic maintained a steady second place from May to July 2024, it slipped to third in August 2024. This change can be attributed to the rising performance of Uncle Arnie's, which climbed from fourth place in May to second place by August, showcasing a consistent upward trend in sales. Meanwhile, Journeyman has held the top spot consistently, indicating a strong market presence. Despite the slip in rank, tonic's sales figures remained robust, peaking in July before a slight decline in August. This competitive analysis suggests that while tonic remains a key player, it faces stiff competition from brands like Uncle Arnie's, which are rapidly gaining market share.
Notable Products
In August 2024, the top-performing product for tonic was Mandarin Orange Tonic (100mg THC, 12oz), maintaining its first-place ranking with sales reaching 9,740 units. Raspberry Lemonade Tonic (100mg THC, 12oz) held steady in the second position, continuing its consistent performance from previous months. The CBD/THC 1:1 Tropical Punch Tonic (100mg CBD, 100mg THC, 12oz) remained in third place, showing a slight increase in sales compared to July. Notably, the CBD/THC 1:1 Citrus Lime Tonic (100mg CBD, 100mg THC, 12oz) climbed to fourth place, surpassing Mango Pineapple Seltzer (100mg THC, 12oz), which dropped to fifth. Overall, tonic's product rankings displayed stability with minor shifts in the lower ranks.
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.
