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Oct-2024
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Overview
Market Insights Snapshot
In the Maryland market, Healer has shown a strong and consistent performance in the Tincture & Sublingual category. The brand has maintained the top position from August to October 2024, demonstrating its dominance and appeal in this segment. This ascent from the second rank in July to the first in subsequent months indicates a solid growth trajectory and consumer preference. The sales figures, although peaking in August, have slightly decreased in the following months, which suggests a potential stabilization or seasonal influence on consumer purchasing behavior.
Healer's absence from the top 30 rankings in other states or categories might indicate challenges in expanding its market presence beyond Maryland or in diversifying its product offerings. This could be seen as a limitation in its current strategy or an opportunity for future growth if the brand can replicate its Maryland success elsewhere. The focus on maintaining a leading position in one category within a single state might suggest a strategic approach to solidifying their dominance before expanding, although the lack of visibility in other markets might raise questions about brand recognition and competitiveness outside its stronghold.
Competitive Landscape
In the Maryland Tincture & Sublingual category, Healer has demonstrated a strong competitive position, consistently ranking as the top brand from August to October 2024. This marks a significant improvement from its second-place position in July 2024, indicating a positive trend in consumer preference and market share. Healer's ascension to the number one spot coincides with a notable increase in sales, surpassing its main competitor, Doctor Solomon's, which held the top rank in July but experienced a decline in sales and rank thereafter. The sustained leadership of Healer in the subsequent months suggests a successful strategy in capturing and retaining customer loyalty, likely driven by product quality, effective marketing, or both. This trend highlights the importance for competitors to innovate and adapt to maintain relevance in this dynamic market.
Notable Products
In October 2024, Healer's top-performing product was the THC/THCa 6:1 Night Tincture (526.44mg THC, 99.96mg THCA) in the Tincture & Sublingual category, which climbed to the number one spot from third place in September. The THC/THCA 1:1 Pain Relief Tincture (315.48mg THC, 327.12mg THCA) maintained its consistent performance, holding steady at second place with sales reaching $196. The THC/THCa 6:1 Night Tincture (600mg THC, 100mg THCA) slipped from first to third place, indicating a slight decrease in sales momentum. The THC/THCA 1:1 Pain Relief Tincture (100mg THCA, 100mg THC) remained stable in fourth place across both September and October. Finally, the CBD/THC/THCA/CBDA 1:1:1:1 Balance Tincture saw a drop from second to fifth place, reflecting a decrease in sales figures compared to previous 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.
