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Oct-2024
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Overview
Market Insights Snapshot
Cresco Labs has shown varied performance across different states and product categories over the past few months. In Illinois, the brand maintained a steady presence in the top 10 for Concentrates until October 2024, when it dropped to the 18th position, indicating a significant decline in market presence. This is coupled with a noticeable decrease in sales, suggesting increased competition or market saturation. Meanwhile, in the Vapor Pens category, Cresco Labs has managed to stay consistently within the top 10, though there was a slight dip in October. The Flower category also saw a consistent ranking around the 10th position, but with a decline in sales, indicating potential challenges in maintaining market share.
In contrast, the performance in Massachusetts and Michigan presents a different picture. In Massachusetts, Cresco Labs has struggled to break into the top 30 for Vapor Pens, while its Flower category ranking dropped significantly from 29th to 45th by October. This suggests a challenging market environment or a need for strategic adjustments. In Michigan, the brand shows some resilience in the Flower category, improving its ranking from 59th in July to 46th in October, despite a decrease in sales. However, their Vapor Pens category remains outside the top 30, indicating a need for stronger market penetration strategies in this state. These trends highlight the varying dynamics Cresco Labs faces across different regions and product lines.
Competitive Landscape
In the competitive landscape of the Illinois flower category, Cresco Labs has experienced a gradual decline in its ranking from July to October 2024, moving from 9th to 11th place. This shift is indicative of a broader trend where brands like Aeriz have gained traction, maintaining a consistent presence in the top 10 and even improving their rank from 10th to 9th by October. Meanwhile, Paul Bunyan has shown volatility, initially ranking 11th in July, dropping to 13th in August, and then climbing back to 10th by October, surpassing Cresco Labs. Despite Cresco Labs' decline in rank, it remains a strong contender in the market, though its sales have decreased over the months, which could be a reflection of increasing competition and shifting consumer preferences. Brands like Bedford Grow and Midweek Friday have also shown fluctuations, but they have not consistently outperformed Cresco Labs, indicating that while Cresco Labs faces challenges, it still holds a significant position in the market.
Notable Products
In October 2024, the top-performing product for Cresco Labs was Astropop Shake (28g) in the Flower category, climbing to the number one spot with notable sales of 6,072 units. Bio Jesus (3.5g) also performed strongly, securing the second position, improving from fourth place in September 2024. Rollins (3.5g) maintained a steady presence, holding onto the third rank from the previous month. Refresh - Pineapple Express (3.5g) entered the rankings at the fourth spot, showing promising sales figures. Meanwhile, Lemon Bean (3.5g) dropped to fifth position from its top rank in September, indicating a shift in consumer preferences.
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.
