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Nov-2024
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Overview
Market Insights Snapshot
Bear Labs has seen some fluctuations in their performance across different categories and states, particularly in the Concentrates category within California. Over the months from August to November 2024, Bear Labs experienced a downward trend in their ranking, moving from 9th place in August to 12th place by November. This decline in rank is coupled with a decrease in sales, indicating potential challenges in maintaining their market position. Despite these challenges, Bear Labs remains within the top 15 brands, showcasing a robust presence in a competitive market.
Interestingly, Bear Labs' absence from the top 30 brands in other categories or states suggests areas where the brand might not yet have a significant footprint. This could be seen as a potential opportunity for growth or an indication of market saturation in certain regions. The fact that Bear Labs maintains a strong position in the California Concentrates market, despite the downward trend, highlights their brand strength and consumer loyalty within this segment. Observing how they navigate these challenges in the coming months will be crucial for understanding their strategic direction and potential expansion efforts.
Competitive Landscape
In the competitive landscape of California's concentrates market, Bear Labs has experienced notable fluctuations in its ranking and sales over recent months. While Bear Labs maintained a consistent presence within the top 12 brands, its rank slipped from 9th in August 2024 to 12th by November 2024. This decline in rank is mirrored by a downward trend in sales, suggesting a potential challenge in maintaining market share. In contrast, ABX / AbsoluteXtracts showed resilience, holding steady in the top 10, although it too faced a sales decline. Meanwhile, Creme De Canna demonstrated an upward trajectory, climbing from 16th to 13th, indicating growing consumer interest. The competitive dynamics are further highlighted by WVY, which consistently outperformed Bear Labs in rank, albeit with a similar sales decline. These shifts underscore the importance for Bear Labs to innovate and adapt to the evolving market to regain its competitive edge.
Notable Products
In November 2024, Nectarine Jelly Live Rosin (1g) emerged as the top-performing product for Bear Labs, securing the number one rank in the Concentrates category with sales of 527 units. Bud Booster THCa (1g) maintained its strong performance, holding steady at the second position for the third consecutive month, following its ranks in August, September, and October. Donny Burger #11 Live Rosin (1g) made a notable entry into the top ranks, achieving third place in November. Papayahuasca Live Rosin (1g) also entered the rankings in November, placing fourth. Tropicana Cherries Rosin (1g), which was the top product in October, saw a shift to fifth place in November, indicating a dynamic change in 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.
