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Oct-2024
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Overview
Market Insights Snapshot
Equity Extracts has shown varied performance across different categories and states in recent months. In Maryland, the brand has maintained a presence within the top 30 for Concentrates, although its ranking has fluctuated. Starting at 17th in July, the brand saw a dip to 24th by September, before rebounding to 20th in October. This movement indicates a potential recovery or stabilization in market presence, despite a notable drop in sales from July to August. Such fluctuations could suggest seasonal demand changes or increased competition within the state.
In the Vapor Pens category, Equity Extracts has also experienced shifts in Maryland, moving from 29th position in July to 30th in October. While this indicates a consistent presence in the top 30, the brand's position at the lower end of the ranking highlights potential challenges in gaining a stronger foothold. Interestingly, despite a significant sales spike in August, the subsequent decline in September and October suggests volatility in consumer preferences or market dynamics. The absence of Equity Extracts from the top 30 in other states or categories could imply either a strategic focus on Maryland or challenges in expanding its market reach.
Competitive Landscape
In the Maryland Vapor Pens category, Equity Extracts has experienced fluctuations in its market position, with its rank moving from 29th in July 2024 to 24th in August 2024, before slipping to 28th in September and 30th in October. This indicates a volatile performance, likely influenced by competitive pressures and market dynamics. Notably, brands like O.penVape and District Cannabis have maintained a relatively stable presence, with O.penVape's rank falling out of the top 20 by October, and District Cannabis hovering around the mid-20s. Despite a significant sales boost in August, Equity Extracts' sales have declined in subsequent months, suggesting challenges in sustaining growth amidst strong competition. Meanwhile, Grass has shown consistent performance, maintaining a steady rank and slightly outperforming Equity Extracts in sales. These insights highlight the competitive landscape Equity Extracts faces and underscore the need for strategic initiatives to enhance its market share and stabilize its ranking.
Notable Products
In October 2024, the top-performing product for Equity Extracts was the Amnesia BDT Distillate Cartridge (0.5g) in the Vapor Pens category, securing the number one rank with sales of 495 units. The Lychee Dream BDT Distillate Cartridge (0.5g) improved its position to rank second, up from fifth in September, showcasing a notable increase in sales. Blue Raz Cured Resin Shatter (1g) entered the top rankings in the Concentrates category at the third position. The Pink Rozay Distillate Cartridge (0.5g) maintained a consistent presence, ranking fourth, similar to its position in August. Meanwhile, Caribbean Breeze Distillate Cartridge (0.5g) saw a slight drop to fifth place after being fourth in September, indicating a competitive market among Vapor Pens.
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.
