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Aug-2024
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Overview
Market Insights Snapshot
Alchemist has shown a notable performance in the Concentrates category in Maryland over the past few months. The brand's ranking has experienced some fluctuations, moving from 13th place in May 2024 to 20th in June, then climbing back to 14th in July, and maintaining the 13th position in August. This indicates a resilience and ability to recover in a competitive market. The sales figures also reflect this trend, with a significant spike in July, demonstrating a strong market presence during that period. However, the drop in rankings in June suggests there may have been competitive pressures or market changes that impacted Alchemist's standing temporarily.
In contrast, Alchemist's performance in the Vapor Pens category in Maryland has been less consistent. The brand did not make it into the top 30 rankings for July and August, which could be a point of concern. Despite being ranked 45th and 46th in May and June respectively, the absence from the top 30 in the subsequent months might indicate a decline in market share or consumer preference within this category. This trend suggests that while Alchemist has a strong foothold in Concentrates, there may be challenges or opportunities for growth in the Vapor Pens segment that the brand needs to address.
Competitive Landscape
In the Maryland concentrates market, Alchemist has experienced notable fluctuations in rank and sales over the past few months. Despite a dip to 20th place in June 2024, Alchemist rebounded to 13th place by August 2024, indicating a resilient recovery. Comparatively, MPX - Melting Point Extracts has shown a steady climb, reaching 9th place in August 2024, which suggests increasing consumer preference. Meanwhile, Kind Tree Cannabis and #Hash have maintained relatively stable positions, with Kind Tree Cannabis improving from 19th to 14th place and #Hash fluctuating between 13th and 16th place. Organic Remedies has seen a downward trend, dropping from 5th place in May 2024 to 10th place in August 2024, which may present an opportunity for Alchemist to capture some of their market share. Overall, while Alchemist's sales have mirrored its rank volatility, the brand's ability to rebound suggests potential for growth if it can sustain its upward momentum.
Notable Products
In August 2024, the top-performing product for Alchemist was Gelato Dream Live Resin Badder (1g) in the Concentrates category, achieving the number one rank. Following closely was Purple Obeah Cured Resin Badder (1g) at the second spot. Gushers OG Cured Badder (1g) maintained its third position from the previous month, with a notable increase in sales to 178 units. Blue Dream Live Resin (1g) secured the fourth rank, while Frozen Margarita Live Resin Badder (1g) dropped to fifth place from its previous top position in July. The shifts in rankings suggest a dynamic market with changing consumer preferences.
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.
