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Aug-2024
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Overview
Market Insights Snapshot
In Massachusetts, Do Drops has experienced a slight decline in its ranking within the Edible category. Starting from the 50th position in May 2024, the brand showed a marginal improvement in June, moving up to 47th place. However, the subsequent months saw a negative trend as it dropped to 53rd in July and 54th in August. This downward movement could be indicative of increased competition or shifts in consumer preferences. Despite these fluctuations, it is worth noting that Do Drops is not within the top 30 brands in Massachusetts, which might suggest a need for strategic adjustments to regain market share.
Conversely, in Maryland, Do Drops has demonstrated a strong and positive trajectory in the Edible category. The brand has consistently climbed the ranks, starting from 15th place in May 2024 and reaching the 10th position by August 2024. This upward movement is accompanied by a notable increase in sales, highlighting growing consumer acceptance and possibly effective marketing strategies in the state. Unlike Massachusetts, Do Drops is firmly within the top 30 brands in Maryland, reflecting a robust performance and a stronger market presence.
Competitive Landscape
In the Maryland edible cannabis market, Do Drops has shown a notable upward trend in rank and sales over the past few months. Starting from a rank of 15 in May 2024, Do Drops climbed to rank 10 by August 2024, indicating a significant improvement in market position. This upward movement is paralleled by a substantial increase in sales, from $255,893 in May to $415,099 in August. In comparison, Smokiez Edibles maintained a consistent rank of 10 until August when it moved up to rank 9, with sales also increasing from $397,306 to $415,638. Beboe showed steady performance, holding rank 11 from June to August, with sales rising from $291,771 in May to $372,050 in August. Meanwhile, Select reappeared in the rankings at position 8 in August after missing the top 20 in June and July, suggesting fluctuating performance. HiColor experienced a decline, dropping from rank 8 in June and July to rank 12 in August, with sales decreasing from $452,129 in May to $371,432 in August. These dynamics highlight Do Drops' strong competitive performance and growing market share in Maryland's edible category.
Notable Products
In August 2024, the top-performing product for Do Drops was Sleep - CBN/THC 1:1 Slumberberry Gummies 10-Pack, maintaining its number one rank from July, with a notable sales figure of 4507 units. Focus - CBG/THC/THCV 1:1:1 Watermelon Gummies 10-Pack rose to the second position from third place in July, showing a significant increase in sales. Energy - CBD/CBG/THC 2:2:1 Lemon Citrus Gummies 10-Pack, which had been in the second position for two months, dropped to the third rank. Relief - CBG/THC 4:1 Pineapple Ginger Gummies 10-Pack remained steady at fourth place since June. Pride - Starfruit Gummies 10-Pack made a reappearance in the rankings at fifth place, despite not being ranked in July.
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.
