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Nov-2024
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Overview
Market Insights Snapshot
Equity Extracts has shown a notable upward trajectory in the Concentrates category within Maryland. Over the past few months, the brand has improved its ranking from 23rd in August 2024 to 16th by November 2024. This positive movement is reflected in their sales figures, which saw a significant increase, particularly in November. Such a climb in the rankings suggests that Equity Extracts is gaining traction and popularity in the Maryland concentrates market, indicating a potential strategic focus or successful marketing efforts in this category.
In contrast, the brand's performance in the Vapor Pens category within Maryland has been less consistent. Although they maintained a presence in the top 30, their ranking fluctuated, dropping to 30th in October before recovering slightly to 26th in November. This inconsistency could highlight challenges in maintaining a competitive edge in the vapor pens segment, possibly due to increased competition or shifting consumer preferences. The fact that they remained within the top 30, however, suggests a stable, albeit less dominant, position in this category compared to their performance in concentrates.
Competitive Landscape
In the Maryland Vapor Pens category, Equity Extracts has experienced fluctuations in its market position over recent months, indicating a dynamic competitive landscape. In August 2024, Equity Extracts was ranked 24th, but by October, its rank had slipped to 30th, before recovering slightly to 26th in November. This volatility in rank reflects the brand's struggle to maintain a stable position amidst strong competition. Notably, Verano and 1937 have consistently hovered around the top 25, with Verano showing a slight improvement from 25th to 24th, while 1937 moved from 31st to 25th by November. Meanwhile, Legend (MD) showed a remarkable rise from 32nd to 22nd in September, although it later settled at 27th in November. The entry of Just Vapes into the rankings in October at 33rd, moving up to 28th in November, further intensifies the competitive environment. These shifts suggest that while Equity Extracts faces challenges in maintaining its rank, there is potential for strategic maneuvers to reclaim and strengthen its market position.
Notable Products
In November 2024, the top-performing product for Equity Extracts was Gush Mints Shatter (1g) in the Concentrates category, maintaining its position as the number one seller with notable sales of 988 units. Blue Raz Shatter (1g) climbed up a spot to become the second best-seller, showing significant growth from its third-place ranking in October. Amnesia BDT Distillate Cartridge (0.5g), leading the Vapor Pens category in October, shifted to third place in November. Blue Raz Cured Resin Shatter (1g) held steady in the fourth position, consistent with its October ranking. Tangie Sunrise BDT Distillate Cartridge (1g) entered the top five for the first time, marking a new presence in the rankings.
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.
