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Aug-2024
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Overview
Market Insights Snapshot
Equity Extracts has shown varying performance across different categories and states. In Maryland, the brand has seen a notable decline in the Concentrates category, dropping from 15th place in May 2024 to 23rd place by August 2024. This downward trend could be concerning for stakeholders, especially considering the significant sales dip from $76,491 in July to $26,134 in August. On the other hand, their performance in the Vapor Pens category has been relatively stable, albeit not within the top 30 brands. The brand hovered around the 31st and 32nd positions from May to August, indicating a steady but unremarkable presence in this market segment.
Interestingly, the sales figures for Vapor Pens in Maryland show a different trend, with a significant increase from $47,176 in July to $81,933 in August. This suggests that while Equity Extracts is not a top contender in rankings, they are experiencing growth in consumer demand within this category. However, the absence of Equity Extracts from the top 30 brands in Vapor Pens for June and July could be seen as a missed opportunity or a potential area for strategic improvement. Observing these trends can provide valuable insights for future market strategies and product focus areas.
Competitive Landscape
In the Maryland vapor pens category, Equity Extracts has experienced notable fluctuations in its ranking over the past few months, reflecting a dynamic competitive landscape. Despite a strong start in May 2024 with a rank of 31, the brand saw a dip to 34 in July before recovering slightly to 32 in August. This inconsistency contrasts with the more stable performance of competitors like Legend (MD), which maintained a top 20 position until a drop to 29 in August, and Khalifa Kush, which consistently improved its rank, reaching 33 by August. Additionally, Grass showed significant improvement from 35 in May to 30 in August, indicating a growing market presence. These shifts highlight the competitive pressures Equity Extracts faces, particularly from brands that have either maintained or improved their standings over the same period. Understanding these trends can provide valuable insights for strategic positioning and market share growth in the volatile Maryland vapor pens market.
Notable Products
In August 2024, the top-performing product from Equity Extracts was Champagne Kush Distillate Cartridge (1g) in the Vapor Pens category, achieving the number one rank with sales of 351 units. Following closely was 1812 Shatter (1g) in the Concentrates category, which, despite dropping from the first rank in the previous three months, secured the second position. Purple Obeah Shatter (1g) also made a notable entry, ranking third in the Concentrates category. Slurricane Distillate Cartridge (1g) and Watermelon OG Distillate Cartridge (1g) rounded out the top five, ranking fourth and fifth respectively in the Vapor Pens category. This month saw significant changes in rankings, particularly for 1812 Shatter (1g), which experienced a notable drop from its consistent top position in the preceding months.
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.
