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Aug-2024
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Overview
Market Insights Snapshot
In the competitive landscape of cannabis brands, Tune has demonstrated a strong performance across several states and categories. Notably, in the Beverage category in New York, Tune has shown remarkable consistency and growth. From May to August 2024, the brand maintained a solid position, moving from a rank of 4.0 in May to an impressive 2.0 from June through August. This sustained high ranking indicates a robust market presence and consumer preference in New York's beverage sector. The significant jump in sales from May to June highlights a positive trend that may be indicative of successful marketing strategies or product launches during this period.
However, it's crucial to note that Tune's success in New York does not necessarily mirror its performance in other states or categories. In some regions, Tune did not make it into the top 30 brands, which suggests varying levels of market penetration and brand recognition. This disparity could be due to several factors, including local competition, market maturity, and regional consumer preferences. Despite these challenges, Tune's stronghold in New York's beverage category serves as a promising indicator of its potential to capture and expand market share in other areas.
Competitive Landscape
In the competitive landscape of the New York cannabis beverage market, Tune has demonstrated impressive stability and growth. Over the past four months, Tune has consistently held the second rank, showcasing a significant improvement from its fourth-place position in May 2024. This upward trajectory is indicative of Tune's increasing market presence and consumer preference. However, Tune faces stiff competition from Ayrloom, which has maintained a dominant first-place ranking throughout the same period. Additionally, Weed Water and MyHi have shown fluctuating ranks, with Weed Water moving from second to third place and MyHi climbing from sixth to third before settling at fourth. Despite these shifts, Tune's consistent second-place ranking and increasing sales figures suggest a strong market position, though it still trails significantly behind Ayrloom in terms of overall sales.
Notable Products
For August 2024, Tune's top-performing product was Sicilian Lemon & Rose Infused Seltzer (10mg THC, 12oz), maintaining its first-place ranking from the previous month with sales of 3851 units. The Raspberry Lime Infused Seltzer (10mg THC, 12oz) climbed to the second spot, showing a significant increase in sales from 2493 units in July to 3498 units in August. Blackberry Cardamom Infused Seltzer (10mg THC, 12oz) also saw a rise in its rank, moving from fourth to third place with 3150 units sold. The Black Cherry Infused Seltzer (10mg THC, 12oz) dropped to fourth place, with sales decreasing to 2139 units. Lastly, the Sicilian Lemon & Rose Infused Seltzer 4-Pack (40mg) re-entered the rankings at fifth place, showing a notable increase from its last recorded sales in June.
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.
