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Aug-2024
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Overview
Market Insights Snapshot
Coast Cannabis Co. has demonstrated consistent performance in the Edible category within Massachusetts. Over the span of four months, the brand has maintained its position within the top five, ranking 5th in May 2024 and moving up to 4th place from June to August 2024. This upward trend indicates a growing consumer preference for their products. Despite facing stiff competition, Coast Cannabis Co. has managed to increase its sales each month, culminating in nearly $1 million in sales by August 2024. This steady climb in rankings and sales underscores the brand's strong market presence and effective strategies in the Edible category.
However, it is worth noting that Coast Cannabis Co.'s visibility is limited to Massachusetts as they did not appear in the top 30 brands in any other state or category during the same period. This lack of presence outside Massachusetts could be seen as a potential area for growth or a limitation depending on the company's strategic goals. On the bright side, their strong performance in Massachusetts could serve as a solid foundation for future expansion into other states. The consistent ranking and sales growth in Massachusetts suggest that they have a robust product offering and brand loyalty that could be leveraged in new markets.
Competitive Landscape
In the Massachusetts edible cannabis market, Coast Cannabis Co. has shown a consistent performance over the past few months, maintaining a steady rank of 4th place from June to August 2024. This stability is notable given the competitive landscape. For instance, Wana has fluctuated slightly but remains a strong competitor, holding the 2nd position in May, June, and August, but dropping to 3rd in July. Similarly, Betty's Eddies has shown resilience, consistently ranking in the top 3, even reaching the 2nd position in July. On the other hand, Kanha / Sunderstorm has remained stable but lower in the rankings, consistently holding the 5th position. Meanwhile, Choice has maintained the 6th position throughout the same period. Coast Cannabis Co.'s ability to hold its ground amidst these strong competitors suggests a solid market presence and a potential for growth, especially as it has seen a steady increase in sales from May to August 2024.
Notable Products
In August 2024, the top product for Coast Cannabis Co. was CBD/CBN/THC 1:1:1 Cranberry Pomegranate Gummies 20-Pack (100mg CBD, 100mg CBN, 100mg THC), maintaining its first-place ranking from previous months with sales reaching $6,499. THC/CBD/CBC 1:4:1 Boysenberry Gummies 20-Pack (100mg THC, 400mg CBD, 100mg CBC) saw a significant rise, moving from fourth place to second, showing a strong increase in sales. CBD/CBG/THC 1:1:1 Tangerine Full Spectrum Gummies 20-Pack (100mg CBD, 100mg CBG, 100mg THC) and CBD/THC/THCV 1:1:1 Raspberry Lime Gummies 20-Pack (100mg CBD, 100mg THC, 100mg THCV) both held steady in third place. The Dark Chocolate & Sea Salt Bar 20-Pack (100mg) entered the top five for the first time, ranking fourth. Overall, the top products have shown consistent performance with some notable shifts in rankings, particularly for the Boysenberry Gummies.
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.
