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Oct-2024
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Overview
Market Insights Snapshot
Drip Oils + Extracts has shown a varied performance across different product categories and states. In Arizona, the brand has maintained a strong presence in the Concentrates category, though it experienced a slight dip from 5th place in July 2024 to 9th in September, before climbing back to 6th in October. Interestingly, in the Tincture & Sublingual category, Drip Oils + Extracts has consistently held the top spot for four consecutive months, indicating a strong consumer preference in this segment. The Topical category saw a significant improvement, moving from 4th place in September to 1st in October, suggesting a growing demand or successful promotional strategies in that category. However, the Vapor Pens category in Arizona shows a steady but slower upward movement, with the brand improving its rank from 14th in July to 12th by October.
In contrast, the performance in Michigan is less prominent, with Drip Oils + Extracts not making it into the top 30 for any category except Vapor Pens, where it placed 60th in July and improved to 51st by October. This indicates a potential challenge in gaining traction in the Michigan market or possibly a more competitive landscape. The sales figures for Vapor Pens in Michigan show fluctuations, with a notable dip in September, followed by a recovery in October, which may reflect seasonal trends or shifts in consumer preferences. The absence of top rankings in other categories could highlight areas for potential growth or the need for strategic adjustments to better penetrate the Michigan market.
Competitive Landscape
In the competitive landscape of vapor pens in Arizona, Drip Oils + Extracts has shown a steady improvement in its market position over the past few months. Starting from a rank of 14th in July 2024, the brand has climbed to 12th by October 2024. This upward trend is indicative of its growing presence and appeal in the market. Notably, Mfused remains a strong competitor, maintaining a higher rank despite a decline from 3rd to 11th place, suggesting a significant drop in sales. Meanwhile, IO Extracts has consistently held the 10th position, indicating stable performance. CAKE she hits different and Canamo have fluctuated in rankings, with CAKE she hits different dropping from 13th to 14th and Canamo improving slightly from 14th to 13th. These dynamics suggest that while Drip Oils + Extracts is gaining traction, it faces stiff competition from both established and emerging brands in the Arizona vapor pen market.
Notable Products
In October 2024, the top-performing product from Drip Oils + Extracts was High THC RSO (1g) in the Concentrates category, maintaining its number one rank from previous months and achieving sales of 3455 units. The Blue Dream Distillate Cartridge (1g) in the Vapor Pens category rose to the second position, showing significant improvement from its fifth rank in September. Green Crack Distillate Cartridge (1g) debuted in the rankings in September at second place and settled at third in October. Mimosa Distillate Cartridge (1g) entered the rankings in October at fourth place, while White Runtz Distillate Cartridge (1g) followed closely behind in fifth. Overall, the Vapor Pens category saw a dynamic shift in rankings with new entries and movements, highlighting a competitive market for Drip Oils + Extracts.
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.
