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Oct-2024
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Overview
Market Insights Snapshot
Coast Cannabis Co. has shown consistent performance in the edible category within Massachusetts. Over the months from July to October 2024, the brand has maintained a strong presence, oscillating between the 4th and 5th rankings. This stability in the top 5 indicates a solid consumer base and effective market strategies. Notably, their sales in August 2024 saw a significant increase, surpassing the million-dollar mark, which suggests a successful promotional campaign or product launch during that period. However, the slight dip in September sales might indicate a seasonal trend or increased competition, but the brand quickly regained its footing in October.
Despite the robust performance in Massachusetts, Coast Cannabis Co. does not appear in the top 30 for any other state or province, which could imply a limited geographical reach or a focused strategy primarily targeting the Massachusetts market. This absence from other markets might be a strategic decision to concentrate resources and build a dominant position locally before expanding. Alternatively, it could highlight potential growth opportunities if the brand decides to explore other regions. The consistent ranking within Massachusetts underscores its competitive edge in the local market, but the lack of presence elsewhere suggests room for expansion and diversification.
Competitive Landscape
In the Massachusetts edible cannabis market, Coast Cannabis Co. has shown a dynamic performance over the past few months, reflecting a competitive landscape that demands agility and strategic positioning. Notably, Coast Cannabis Co. improved its rank from 5th in July 2024 to 4th in August 2024, maintaining this position in October 2024 after a brief dip back to 5th in September. This fluctuation suggests a competitive tussle with brands like Kanha / Sunderstorm, which mirrored Coast's rank changes, indicating a close rivalry. Despite this, Coast's sales figures have remained robust, consistently outperforming Choice, which has held steady at 6th place. However, Coast still trails behind leading brands such as Wana and Betty's Eddies, which have maintained their top positions with significant sales margins. This competitive analysis highlights the importance for Coast Cannabis Co. to continue leveraging its strengths to climb higher in the rankings and close the sales gap with the market leaders.
Notable Products
In October 2024, the top-performing product for Coast Cannabis Co. was the CBD/CBN/THC 1:1:1 Cranberry Pomegranate Gummies 20-Pack, maintaining its first-place rank since July 2024, with sales of 5,899 units. The CBD/CBG/THC 1:1:1 Tangerine Full Spectrum Gummies held the second position, showing a slight increase in sales compared to September. The CBD/THC/THCV 1:1:1 Raspberry Lime Gummies remained steady in the third rank, while the CBN/THC 5:1 Goodnight Grape Gummies climbed to fourth place, indicating a positive trend in sales. The THC/CBD/CBC 1:4:1 Boysenberry Gummies rounded out the top five, slipping from fourth to fifth place despite a slight increase in sales figures. Overall, the rankings show stability in the top three products, with some movement in the lower ranks.
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.
