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Oct-2024
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Overview
Market Insights Snapshot
1906 has demonstrated a robust performance in the Capsules category across several key states, maintaining a consistent top position in states like Illinois, Massachusetts, Missouri, and New York from July to October 2024. In contrast, their presence in Colorado seems to have diminished as they did not rank in the top 30 after July, suggesting a potential area for growth or a shift in market dynamics. This consistent top ranking in multiple states highlights 1906's strong brand recognition and customer loyalty within the Capsules segment, although the absence from the ranking in Colorado could indicate competitive pressures or changing consumer preferences.
In the Edible category, 1906's performance in New York has been more modest, consistently ranking at 19th from July to October 2024. This steady position indicates a stable yet less dominant presence in the edible space compared to their success in Capsules. Notably, the lack of top 30 rankings in other states within the Edible category suggests either a more competitive landscape or a strategic focus on Capsules over Edibles. The data implies that while 1906 excels in specific product lines and markets, there may be opportunities for growth and diversification in other categories or regions to enhance their market footprint.
Competitive Landscape
In the Illinois capsules market, 1906 has consistently maintained its top position from July to October 2024, showcasing its strong brand presence and consumer preference in this category. Despite a noticeable decline in sales from July to September, 1906's October sales indicate a recovery, reinforcing its dominance. In contrast, Avexia and Pure Essentials have remained steady at the second and third ranks, respectively, throughout the same period. However, their sales figures are significantly lower than 1906's, with Avexia's sales peaking in September and Pure Essentials experiencing a decline in October. This stability in ranking but disparity in sales volume highlights 1906's strong market leadership and suggests potential growth opportunities if they can sustain or further increase their sales momentum in the coming months.
Notable Products
In October 2024, the top-performing product for 1906 was Boost Drops Pills 20-Pack (100mg) in the Capsules category, which rose to the number one rank with sales of 12,249 units. Following closely, CBD/THC 1:1 Bliss Drops Capsules 20-Pack maintained a strong position, ranking second, although it had been the top product in September. CBD/THC 5:1 Chill Tablets 20-Pack, which previously led in July and August, fell to third place. The CBD/THC/CBN 2:2:1 Sleep for ZZZ'S Drops 20-Pack made a notable entry, securing the fourth spot. CBD/THC 1:1 Bliss Drops Pouch 2-Pack rounded out the top five, indicating a slight decline in popularity compared to its August rank.
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.
