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Sep-2024
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Overview
Market Insights Snapshot
In the state of Arizona, BITS has shown a consistent presence in the Edible category, maintaining a rank within the top 30. Despite fluctuations, such as a dip from 25th to 27th place in September 2024, BITS has managed to sustain its market presence. This stability is noteworthy, especially when compared to Massachusetts, where BITS failed to break into the top 30, indicating a challenging market environment. Meanwhile, in Nevada, BITS experienced a decline in rankings, dropping from 20th in June to 22nd by September, suggesting potential competitive pressures or shifts in consumer preferences.
In Illinois, BITS maintained a relatively stable ranking within the top 20, showing resilience in a competitive Edible market. The brand's performance in Maryland is particularly impressive, consistently holding the 17th position over several months, which points to a strong and steady consumer base. On the other hand, Ohio has been a standout market for BITS, with an upward trend in sales and a solid 12th place ranking in both August and September 2024, reflecting a significant market penetration and growth potential. Such data-driven insights can help stakeholders understand BITS's strategic positioning and areas for potential expansion or improvement.
Competitive Landscape
In the competitive landscape of the Edible category in Illinois, BITS has experienced fluctuations in its rank over the past few months, indicating a dynamic market presence. In June 2024, BITS held the 17th position, but it slipped to 20th in July, only to recover slightly to 19th in August and then back to 17th in September. This oscillation suggests that while BITS is maintaining a foothold in the top 20, it faces stiff competition from brands like Savvy, which consistently held a higher rank at 15th place from July to September. Additionally, Beboe and Good Tide have shown stable rankings, with Beboe slightly ahead of BITS in most months. Despite these challenges, BITS has demonstrated resilience with a notable rebound in sales from July to September, suggesting effective strategies in regaining market share and consumer interest.
Notable Products
In September 2024, the top-performing product for BITS was the CBN/THC 1:1 Pomegranate R&R Gummies 20-Pack (100mg CBN, 100mg THC), which climbed to the first position with notable sales of 8,439 units. This product consistently held the second rank from June to August before taking the lead in September. The Guava Go Gummies 20-Pack (100mg) slipped to the second position after maintaining the top spot for the previous three months. The CBD/THC 1:1 Elderberry Wellness Gummies 20-Pack (100mg CBD, 100mg THC) held steady in third place throughout the four months. The Acai Affection Gummies 20-Pack (100mg) and CBG/THC 1:1 Yuzu Zone Gummies 20-Pack (100mg CBG, 100mg THC) remained unchanged at fourth and fifth positions, respectively, indicating stable performance within their 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.
