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Sep-2024
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Overview
Market Insights Snapshot
In the realm of cannabis capsules, 1906 has demonstrated a commanding presence, particularly in Illinois, Massachusetts, and Missouri, where they consistently maintained the number one ranking from June through September 2024. This stronghold is indicative of their robust market strategy and consumer loyalty in these states. In contrast, their performance in Colorado saw a decline, with a drop from the top position in June to falling out of the top 30 by August, signaling potential challenges or increased competition in that market. Such movements highlight the brand's varying regional dynamics and the importance of localized strategies in maintaining market leadership.
In the edible category, 1906's presence in New York portrays a different narrative. The brand hovered around the 16th to 18th rank from June to September, suggesting a more competitive landscape or perhaps a need for a stronger push in this category. This relatively lower ranking compared to their capsule performance could indicate differing consumer preferences or market saturation in edibles. Despite these challenges, the steady ranking suggests a stable, albeit modest, foothold in the New York edibles market. Such insights underscore the necessity for brands like 1906 to continually adapt and innovate in response to market conditions and consumer trends.
Competitive Landscape
In the Illinois capsules market, 1906 has maintained a consistent lead, holding the top rank from June to September 2024. This dominance is particularly notable given the steady performance of competitors like Avexia and Pure Essentials, which have consistently ranked second and third, respectively, during the same period. Despite a noticeable decline in sales for 1906 from August to September, dropping from 835,530 to 653,553, the brand has managed to retain its number one position, indicating a strong market presence and customer loyalty. In contrast, both Avexia and Pure Essentials have shown relatively stable sales figures, suggesting that while they are formidable competitors, they have not yet closed the gap with 1906. This analysis underscores 1906's robust market strategy and brand strength in the Illinois capsules category, even amidst fluctuating sales figures.
Notable Products
In September 2024, the top-performing product for 1906 was the CBD/THC 1:1 Bliss Drops Capsules 20-Pack, which ranked first with sales of $14,353. This product improved its ranking from the previous months, moving up from the second position in both June and August. The CBD/THC 5:1 Chill Tablets 20-Pack, which had previously held the top spot in July and August, fell to second place in September. Boost Drops Pills 20-Pack maintained a consistent presence in the top three, securing the third position in September. Notably, the CBD/THC 1:1 Love Tablets Pouch 4-Pack and CBD/THC 5:1 Chill Drops Pouch 2-Pack were new entries in the rankings, appearing in fourth and fifth places, respectively.
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.
