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Oct-2024
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Overview
Market Insights Snapshot
Alchemist has shown a consistent performance in the Concentrates category in Maryland, maintaining a steady rank of 9th from July through October 2024. This stability in ranking suggests a solid foothold in the Maryland market for concentrates, despite a noticeable decline in sales from July to October. Such consistency in ranking, even amid fluctuating sales figures, indicates that Alchemist is successfully managing to hold its position against competitors in this category. It's worth noting that the brand did not appear in the top 30 for Vapor Pens during this period, which could be a strategic gap or an area for potential growth.
While Alchemist's presence in the Vapor Pens category in Maryland hasn't broken into the top 30, the rankings show a slight upward movement from 47th in August to 45th in October. This gradual improvement suggests a potential for growth if the trend continues, though it remains outside the competitive top 30. The brand's focus might be more concentrated on their better-performing categories, such as Concentrates, which could explain the disparity. The absence from the top 30 in Vapor Pens could be seen as a missed opportunity or a deliberate strategic choice to prioritize other categories.
Competitive Landscape
In the Maryland concentrates market, Alchemist has maintained a consistent rank of 9th place from July to October 2024, indicating a stable position amidst fluctuating competition. Notably, MPX - Melting Point Extracts experienced a significant drop from 5th to 12th place in August, before recovering to 7th in October, suggesting potential volatility that Alchemist has managed to avoid. Meanwhile, Doctor Solomon's has shown a positive trend, climbing from 14th in July to 8th in October, which could pose a competitive threat if this upward trajectory continues. CULTA also improved its rank from 16th in August to 10th in October, while District Cannabis reappeared in the rankings at 13th in October after missing in August and September. These dynamics highlight the competitive landscape in which Alchemist operates, emphasizing the importance of maintaining its current market position while being vigilant of competitors' movements.
Notable Products
In October 2024, Alchemist's top-performing product was Forgotten Haze Live Resin Badder (1g) in the Concentrates category, maintaining its number one rank from July through October with a notable sales figure of 896 units. Cheese Live Resin Sugar (1g) rose to the second position, improving from a third-place rank in September. Forgotten Tangie Live Resin Sugar (1g) held the third spot, dropping from second place in September. Pineapple Upside Down Cake Live Resin Badder (1g) entered the rankings at fourth position in October. Lemon Cherry Gelato Cured Resin (1g) debuted at fifth place, rounding out the top five for the month.
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.
