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Oct-2024
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Overview
Market Insights Snapshot
In the Massachusetts market, DRiP has demonstrated notable growth in the Concentrates category over the past few months. Starting from a rank of 22 in July 2024, the brand ascended to the 6th position by October 2024. This upward trajectory is indicative of a strong market presence and increasing consumer preference for their products. In contrast, their performance in the Vapor Pens category has been relatively stable, maintaining a position within the top 30, although slightly fluctuating between 24th and 31st place. This suggests a consistent but less dynamic engagement in this category compared to Concentrates.
Meanwhile, in Michigan, DRiP's performance in the Vapor Pens category shows a different trend. The brand has struggled to break into the top 30, with rankings hovering around the 80s and 90s over the past few months. Despite this, there was a noticeable improvement from July to August 2024, though it was not sustained in the subsequent months. This indicates a challenging market environment or potential competition that DRiP faces in Michigan, highlighting areas for potential growth or strategy adjustment. The variance in performance across states and categories underscores the importance of tailored market strategies.
Competitive Landscape
In the Massachusetts vapor pens category, DRiP has demonstrated a notable upward trend in its market position over the past few months. Starting from a rank of 31 in July 2024, DRiP improved to 28 in August and further climbed to 24 in September, before slightly dropping to 25 in October. This positive trajectory in rank correlates with a significant increase in sales, indicating a strengthening brand presence. In contrast, competitors like Happy Valley experienced a decline, dropping from rank 8 in July to 24 by October, with a corresponding decrease in sales. Meanwhile, Green Meadows and the Essence maintained relatively stable rankings, with slight fluctuations. Notably, the Essence saw a significant jump in October, surpassing DRiP with a rank of 23. These dynamics suggest that while DRiP is gaining momentum, it faces stiff competition from brands that are also vying for higher market shares in Massachusetts.
Notable Products
In October 2024, GMO Live Badder (1g) from the Concentrates category emerged as the top-performing product for DRiP, securing the number one rank with sales of 1621 units. Snow Wax (1g), also in Concentrates, maintained its second position from September, showing a notable increase in sales to 1387 units. Sunset Sherbet Live Resin Cartridge (1g) in the Vapor Pens category climbed to the third rank, indicating a strong performance for the month. Meanwhile, Zkittlez Distillate Cartridge (1g) dropped from the first rank in July and August to fourth in October, reflecting a shift in consumer preference. White Widow Distillate Cartridge (1g) entered the rankings at fifth place, highlighting its growing popularity among DRiP's offerings.
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.
