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Dec-2024
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Overview
Market Insights Snapshot
Dr. May has shown varied performance across different categories and states. In California, the brand is present in both the Tincture & Sublingual and Topical categories. Notably, in the Tincture & Sublingual category, Dr. May maintained a steady presence within the top 20, although slipping slightly from 17th in September to 19th by December 2024. This decline in ranking is accompanied by a decrease in sales from $25,441 in September to $13,347 in December, indicating a downward trend in this segment. In contrast, the Topical category has seen Dr. May consistently hold the 12th position through September to November, but it is noteworthy that the brand did not rank in the top 30 in December, suggesting a significant drop in market presence. This absence in December could point to either increased competition or a shift in consumer preferences.
The performance of Dr. May in these categories highlights the importance of maintaining market presence amidst shifting consumer dynamics and competitive pressures. The steady ranking in the Topical category during the earlier months suggests a loyal customer base or effective market strategies, but the sudden drop in December indicates potential challenges that need addressing. Meanwhile, the gradual decline in the Tincture & Sublingual category suggests a need for strategic adjustments to regain momentum. Understanding these trends is crucial for stakeholders looking to navigate the complexities of the cannabis market and adapt to changing conditions. For those interested in deeper insights and strategic implications, further analysis would be beneficial.
Competitive Landscape
In the competitive landscape of the Tincture & Sublingual category in California, Dr. May has experienced a notable shift in its market position over the last few months. Starting from a rank of 17 in September 2024, Dr. May improved slightly to 16 in October, but then saw a decline to 19 by December. This downward trend in rank is mirrored by a decrease in sales, suggesting potential challenges in maintaining market share. In contrast, My Blue Dove has shown more stability, consistently ranking within the top 20 and even improving its position to 17 in October. Meanwhile, Carter's Aromatherapy Designs (C.A.D.) has maintained a strong and stable presence, holding the 13th rank from October through December, with steadily increasing sales. The re-entry of Opi-Not into the top 20 in November and December further intensifies the competition. These dynamics highlight the competitive pressures Dr. May faces in this category, emphasizing the need for strategic adjustments to regain and enhance its market position.
Notable Products
In December 2024, Dr. May's CBD/THC 1:20 Relax 1000 Formula Tincture emerged as the top-performing product, climbing from its previous fifth place in November to first place, with sales reaching 101 units. The CBD/THC 1:1 Balance Original Formula Topical Balm made a significant entry into the rankings, securing the second position. Meanwhile, the CBD/THC 20:1 Focus 1000 Tincture, which had been the top product in November, slipped to third place in December. The CBD/THC 1:20 Relax Twist Up Balm also saw a decline, moving from third to fourth place. Lastly, the CBD:THC 1:20 Relax 350 Formula Tincture re-entered the rankings at fifth place after not being ranked in November.
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.
