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Oct-2024
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Overview
Market Insights Snapshot
Bear Labs has shown varied performance across different states and categories, with notable movements in the Concentrates category in California. Over the past few months, Bear Labs has experienced a decline in its ranking within the Concentrates category, dropping from 9th position in July and August 2024 to 12th by October 2024. This downward trend is accompanied by a decrease in sales, which may be a cause for concern as it suggests a potential loss of market traction in this specific category. The brand's absence from the top 30 in other states or categories could indicate a need for strategic adjustments to regain competitive positioning.
Despite the challenges in California, Bear Labs' ability to maintain a presence in the top 10 for a significant period earlier in the year highlights its potential to recover and adapt. The brand's performance in other states or categories remains unreported, suggesting that it may not have a significant footprint beyond its home market or that it faces stiff competition elsewhere. This offers a glimpse into the competitive landscape Bear Labs is navigating and underscores the importance of strategic market expansion and category diversification to sustain growth and improve rankings.
Competitive Landscape
In the competitive landscape of the California concentrates market, Bear Labs has experienced a notable shift in its ranking and sales performance over recent months. Starting from a strong position at rank 9 in July 2024, Bear Labs has seen a decline, dropping to rank 12 by October 2024. This downward trend in rank is mirrored by a significant decrease in sales, from a high in July to a much lower figure by October. In contrast, Creme De Canna has shown impressive upward mobility, climbing from rank 23 in July to rank 10 in October, with a corresponding increase in sales. Meanwhile, Friendly Farms and West Coast Trading Co. have maintained relatively stable positions, with minor fluctuations in their rankings and sales figures. UP! has also demonstrated a positive trajectory, moving from rank 28 in July to rank 14 in October. These shifts highlight the dynamic nature of the market and suggest that Bear Labs may need to reassess its strategies to regain its competitive edge in the California concentrates sector.
Notable Products
In October 2024, Bear Labs saw Bud Booster THCa (1g) take the lead as the top-performing product in the Concentrates category, climbing from the second position in September to first place with sales reaching 758 units. Hella Jelly Budder (1g) made a notable re-entry, securing the second position with 537 units sold after being absent from the top ranks in August and September. Tropicana Cherries Rosin (1g) held steady in third place, slightly decreasing from previous sales figures. Rainbow Belts X G41 Diamonds (1g) maintained its fourth-place ranking from September to October. Garlic Runtz Live Rosin (1g) entered the top five for the first time, indicating a growing interest in this product.
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.
