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Oct-2024
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Overview
Market Insights Snapshot
The performance of BITS in the Edible category has shown notable fluctuations across various states. In Arizona, BITS experienced a significant improvement in its ranking from 27th in July to 21st by October, indicating a positive trend despite a dip in sales during the summer months. Conversely, in Massachusetts, BITS struggled to maintain a foothold within the top 30, dipping out of this range in August and September before recovering slightly to 36th in October. This reflects challenges in maintaining consistent market presence in some regions, while achieving growth in others.
In Illinois, BITS maintained a steady position, holding at 17th place in both September and October, showcasing stable performance in one of the more competitive markets. Meanwhile, in Nevada, BITS fell out of the top 30 by October, which could be a cause for concern given the earlier rankings. In contrast, Ohio saw BITS consistently rank 13th from August through October, highlighting a strong and stable presence in this state. This diverse performance across states suggests that while BITS is gaining traction in certain areas, there are opportunities for improvement in others.
Competitive Landscape
In the competitive landscape of the Illinois edible cannabis market, BITS has shown a notable upward trajectory in recent months. Starting from a rank of 20 in July 2024, BITS improved to rank 17 by September and maintained this position into October. This positive trend in ranking is accompanied by a steady increase in sales, reflecting growing consumer preference. In contrast, Beboe has experienced a decline, dropping from rank 14 in July to 16 by October, with a corresponding decrease in sales. Meanwhile, Daze Off and Good Tide have shown relatively stable rankings, though Daze Off experienced a slight drop from 14 to 15 in October. Interestingly, Revolution Cannabis has been climbing the ranks, moving from 28 in July to 19 in October, indicating a potential emerging competitor. BITS's consistent improvement in both rank and sales suggests a strengthening market position, which could be further leveraged with strategic marketing efforts.
Notable Products
In October 2024, the top-performing product from BITS was Guava Go Gummies 20-Pack (100mg), which reclaimed its number one position after being ranked second for the previous two months, with sales reaching 7,252 units. The CBD/THC 1:1 Elderberry Wellness Gummies 20-Pack (100mg CBD, 100mg THC) improved its standing to second place, showing a notable increase in sales to 6,700 units. The CBN/THC 1:1 Pomegranate R&R Gummies 20-Pack (100mg CBN, 100mg THC), which had been leading in the past two months, dropped to third place. Acai Affection Gummies 20-Pack (100mg) maintained its fourth-place ranking, while CBG/THC 1:1 Yuzu Zone Gummies 20-Pack (100mg CBG, 100mg THC) consistently held the fifth position throughout the observed period. This shift in rankings highlights a dynamic change in consumer preferences within the edible category.
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.
