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Aug-2024
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Overview
Market Insights Snapshot
Dr. Norm's has shown consistent performance in the Edible category within California. Over the past four months, the brand has maintained a steady presence in the top 20, with rankings of 18th from May through July, and a slight dip to 19th in August. This stability indicates a strong foothold in the competitive California market, although the slight decline in August could be a point of concern. The brand's sales figures reflect this trend, with a gradual decrease from $355,660 in May to $318,807 in August, suggesting a potential need for strategic adjustments to maintain or improve their market position.
Interestingly, Dr. Norm's has not appeared in the top 30 brands in other states or provinces, which could be seen as a missed opportunity for expansion or a sign of regional market saturation. The absence from rankings in other regions might indicate that the brand's current focus is heavily skewed towards California, or that it faces significant competition elsewhere. This highlights the importance of market diversification and the potential benefits of exploring new territories to enhance brand visibility and sales growth. Observing these trends could provide valuable insights for stakeholders looking to understand the brand's market dynamics and strategic priorities.
Competitive Landscape
In the competitive landscape of the California edible cannabis market, Dr. Norm's has experienced some notable shifts in rank and sales over the past few months. Dr. Norm's consistently held the 18th position from May to July 2024 but dropped to 19th in August 2024, indicating a slight decline in market performance. This drop in rank is juxtaposed with the steady performance of ABX / AbsoluteXtracts, which maintained the 17th position throughout the same period, and the upward trend of Space Gem, which moved from 19th to 18th place in August 2024. Additionally, Zen Cannabis and Terra have shown gradual improvements, with Terra consistently climbing from 22nd to 20th place by August 2024. These shifts suggest that while Dr. Norm's remains a significant player, it faces increasing competition from brands that are either maintaining or improving their market positions, potentially impacting Dr. Norm's sales and necessitating strategic adjustments to regain its competitive edge.
Notable Products
In August 2024, the top-performing product from Dr. Norm's was the Hybrid Fruity Pebbles Crispy Rice Bar (100mg) in the Edible category, maintaining its first-place ranking from July with sales of 2538 units. The Sleep Well THC/CBN 2:1 - Elderberry Nano Sleep Gummies 10-Pack (100mg THC, 50mg CBN) held steady in second place, showing consistent performance across the months. The Hybrid Chocolate Fudge Brownie (100mg) climbed to third place from fourth in July, indicating a positive trend. The Indica Snickerdoodle Gluten Free Cookie 10-Pack (100mg) dropped to fourth place from third, reflecting a decrease in sales. Notably, the Red Velvet Mini Cookies 10-Pack (100mg) entered the rankings in fifth place for the first time, showing potential for growth in future months.
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.
