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Oct-2024
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Overview
Market Insights Snapshot
In the edible category, Drops has shown consistent performance in both California and Oregon. In California, Drops maintained a steady rank at 11th place from July through September 2024, before climbing to the 10th spot in October. This upward movement in California suggests a positive reception to their products, possibly driven by strategic adjustments or new product releases. Meanwhile, in Oregon, Drops held a strong position at the 3rd rank consistently over the same period, indicating a solid foothold in the market there. Such a stable high rank in Oregon highlights Drops' strong brand presence and consumer loyalty in the state.
While Drops has maintained its presence in the top 30 edible brands in both states, it's noteworthy that they did not fall out of the top 30 in any month, which is a positive indicator of their market strength. The sales figures in California saw a slight dip in September but rebounded in October, reflecting a potential seasonal trend or successful promotional efforts. In Oregon, despite a gradual decline in sales from July to October, Drops maintained its rank, suggesting that while sales volume may have decreased, the brand's market share relative to competitors remained stable. These observations indicate that Drops is well-positioned in these key states, but there are nuances in sales dynamics that could be explored further to understand their strategies and market adaptations.
Competitive Landscape
In the competitive landscape of the Oregon edible cannabis market, Drops consistently holds the third position from July to October 2024. Despite maintaining its rank, Drops faces stiff competition from leading brands such as Wyld and Gron / Grön, which have secured the first and second ranks, respectively, throughout the same period. Notably, Wyld shows a strong upward trend in sales, further widening the gap between itself and Drops. Meanwhile, Gron / Grön maintains a steady performance, consistently outperforming Drops in sales figures. Although Drops remains ahead of Mule Extracts and Smokiez Edibles, its sales have shown a slight decline over the months, indicating a potential need for strategic adjustments to enhance its competitive position in the market.
Notable Products
In October 2024, the top-performing product for Drops was the CBD/THC 2:1 Blackberry Jellies 20-Pack, which maintained its position as the number one product, with sales reaching 18,088 units. The CBD:THC 2:1 Heavy Blackberry Jelly 2-Pack climbed to the second position, improving from fourth place in September. The Active - Lemon Jelly (100mg), despite leading in July and August, fell to the third spot. The Active - Lemon Live Rosin Jelly 2-Pack rose to fourth, showing consistent growth since its introduction in September. Cherry Rosin Gummies 2-Pack re-entered the top five, securing the fifth position after a brief absence in the previous month.
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.
