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Nov-2024
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Overview
Market Insights Snapshot
High Power's performance across different categories and states has shown some interesting trends over recent months. In the Beverage category in California, the brand has experienced a decline in rankings, moving from 13th place in August 2024 to 19th place by November 2024. This downward trend is accompanied by a notable decrease in sales, with a substantial drop from $72,997 in August to $28,680 in November. This suggests that High Power may be facing increasing competition or challenges in maintaining its market share within the Beverage category in California. Meanwhile, in the Tincture & Sublingual category, High Power was ranked 18th in August and 20th in September, but did not make it into the top 30 in October and November, indicating a potential struggle to maintain visibility and consumer interest in this category.
This performance pattern highlights the brand's need to reassess its strategies, particularly in California, where it has historically held a presence. The absence from the top 30 ranks in the Tincture & Sublingual category in the latter months is a critical point of concern, as it suggests a significant drop in market competitiveness. Such movements imply that High Power might need to innovate or adjust its product offerings to regain traction. Observing these trends can provide valuable insights into the brand's market dynamics and potential areas for improvement, while also serving as a reminder of the volatile nature of the cannabis market landscape.
Competitive Landscape
In the competitive landscape of the California beverage category, High Power has experienced a notable decline in both rank and sales from August to November 2024. Initially ranked 13th in August, High Power's position slipped to 19th by November, indicating a downward trend that coincides with a significant drop in sales. This decline contrasts with the performance of competitors like Kan+Ade, which improved its rank from 19th to 17th, suggesting a positive trajectory in the same period. Similarly, Kikoko maintained a relatively stable position, ending November at 18th, while Tonik re-entered the top 20 in October and remained there in November. The consistent presence of these brands in the top 20 highlights the competitive pressure High Power faces, as it struggles to maintain its market share amidst fluctuating consumer preferences and strong performances by its rivals.
Notable Products
In November 2024, the top-performing product from High Power was Watermelon Syrup 4-Pack (1000mg) in the Beverage category, maintaining its number one rank for the second consecutive month, despite a drop to 298 units sold. Watermelon Syrup (250mg) showed a notable improvement, climbing from fourth place in October to second place in November. Berry Syrup 4-Pack (1000mg THC, 200ml) slipped from second to third place, continuing its downward trend since August. Berry Syrup (250mg) remained steady in fourth place, while Salted Caramel Syrup (250mg) held onto the fifth position. This ranking stability and movement highlight a shift in consumer preference towards smaller unit products in November.
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.
