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Oct-2024
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Overview
Market Insights Snapshot
In the state of Maryland, CULTA has shown notable movements across different cannabis product categories over the past few months. In the Concentrates category, CULTA climbed from the 16th position in September to 10th in October, indicating a significant improvement in their market positioning. This upward trend is supported by an increase in sales from $70,201 in September to $100,241 in October. Meanwhile, in the Flower category, CULTA experienced a slight decline in ranking from 14th in September to 15th in October, although the sales remained robust, suggesting a competitive market landscape. The Pre-Roll category saw CULTA's ranking fluctuate, peaking at 7th in September before dropping to 11th in October, which might reflect shifts in consumer preferences or increased competition.
In the Vapor Pens category, CULTA's performance has been less stable, with their ranking dropping from 16th in both August and September to 20th in October. This decline could be attributed to either a decrease in consumer demand or stronger performance by competitors. Interestingly, despite the drop in rank, CULTA's sales in this category reached a peak of $429,880 in August, indicating that while their market share may have diminished, the brand still holds a significant presence. It's worth noting that CULTA did not appear in the top 30 brands for certain categories in some months, which could be seen as a challenge or an opportunity for growth in those segments. Overall, CULTA's performance across different categories and months highlights both their strengths and areas for potential improvement in Maryland.
Competitive Landscape
In the competitive landscape of the Maryland flower category, CULTA has shown a dynamic performance over the past few months. Starting at rank 18 in July 2024, CULTA improved its position to rank 14 by September, before settling at 15 in October. This upward trend in the middle of the period suggests a positive reception of CULTA's offerings, although it faced slight competition pressure towards the end. Notably, Kind Tree Cannabis consistently outperformed CULTA, maintaining a rank between 13 and 16, with sales figures that were generally higher, indicating a strong market presence. Similarly, Grow West Cannabis Company held a solid position in the top 13 throughout, suggesting a robust brand loyalty and market strategy. Meanwhile, Roll One and Nature's Heritage showed fluctuating ranks, with Nature's Heritage dropping out of the top 20 in September, highlighting the competitive volatility in this category. CULTA's ability to climb ranks amidst such competition underscores its potential for growth, though maintaining momentum against these formidable competitors will be crucial for sustaining its market share.
Notable Products
In October 2024, the top-performing product for CULTA was Banana Bubbles 3.5g in the Flower category, securing the number one rank with sales of 3552 units. Kush Mints x Str8 Lemonade Pre-Roll 2-Pack 1g also achieved the top rank in its category, marking a significant rise from its fourth position in August 2024. Durban Poison 3.5g, which held the top spot in September, moved to second place in October, showing a slight decline in sales performance. Romscotti 3.5g entered the rankings in October at third place, indicating a new emerging favorite among consumers. Colonel Crasher 3.5g experienced a drop from second in September to fourth in October, reflecting a decrease in consumer demand.
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.
