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Oct-2024
Sales
Trend
6-Month
Product Count
SKUs
Overview
Market Insights Snapshot
The cannabis brand Bite has demonstrated a notable presence in the Edible category within Massachusetts. Over the past few months, Bite's ranking has fluctuated within the top 30, showcasing a dynamic performance. In July 2024, Bite held the 22nd position, slightly dropping to 24th in August. However, the brand made a comeback in September by climbing to the 20th position, before settling at 21st in October. This movement suggests a resilient market presence, although the brand did not manage to break into the top 15 during this period, indicating room for growth in consumer reach and brand popularity.
Sales figures for Bite in Massachusetts reveal an interesting trend. While there was a dip in sales from July to August, with a decrease from $144,782 to $127,615, the brand rebounded in September with sales reaching $156,774. Despite this recovery, October saw another decline to $126,228. This pattern of fluctuating sales could suggest seasonal demand variations or shifts in consumer preferences within the Edible category. The absence of Bite from the top 30 in other states or categories during these months highlights a concentrated market strategy or potential challenges in expanding their footprint beyond Massachusetts.
Competitive Landscape
In the Massachusetts Edible category, Bite has experienced fluctuations in its ranking over the past few months, indicating a dynamic competitive landscape. Starting at rank 22 in July 2024, Bite saw a slight dip to rank 24 in August, before climbing to rank 20 in September, and then settling at rank 21 in October. This pattern suggests that while Bite is capable of improving its position, it faces strong competition from brands like Treeworks, which consistently maintained a higher rank, staying within the top 19 throughout the period. Additionally, Cannatini and Joygum have shown varying performances, with Cannatini dropping from rank 18 to 22 and Joygum improving from rank 25 to 20, indicating potential threats and opportunities for Bite. Despite these shifts, Bite's sales figures reveal a notable peak in September, aligning with its highest rank, suggesting that strategic efforts during this period were effective. However, the subsequent decline in October sales highlights the need for sustained strategies to maintain and improve its market position amidst a competitive field.
Notable Products
In October 2024, Bite's top-performing product was the Mellow Meyer Lemon Gummies 20-Pack, which climbed to the number one rank from second place in September, with notable sales of 2628 units. Following closely, the UP Peach Mango Gummies 20-Pack improved its standing to second place from fourth in September, showing a consistent upward trend. The High Strawberry Kiwi Gummies 20-Pack maintained a stable presence, ranking third in October after a fifth-place finish in September. Meanwhile, the Social Watermelon Gummies 20-Pack experienced a significant drop, falling to fourth place from its top rank in July and August. Lastly, the Sleepy Blue Raspberry Gummies 20-Pack, which had previously topped the charts in September, slipped to fifth place in October.
```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.
