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Aug-2024
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Overview
Market Insights Snapshot
Highgrade Brands has shown a fluctuating performance across categories and states over the summer months. In British Columbia, the brand has seen some improvement in the Concentrates category, moving from a rank of 32 in May 2024 to 28 in June 2024, before slightly dropping to rank 30 in July 2024. By August 2024, Highgrade Brands did not make it into the top 30 brands in this category, which could be a point of concern. This movement suggests that while there was a brief period of growth, sustaining top rankings remains a challenge for the brand in this particular market.
In terms of sales, Highgrade Brands experienced a notable increase from May to June 2024, with sales figures rising from $13,377 to $15,786. However, this upward trend did not continue, as sales dipped to $14,703 in July 2024. The absence of ranking and sales data for August 2024 in the Concentrates category in British Columbia indicates that the brand did not maintain its competitive edge. This data highlights the volatility in Highgrade Brands' market performance and underscores the importance of consistent strategy and execution to sustain growth and market presence.
Competitive Landscape
In the competitive landscape of the Concentrates category in British Columbia, Highgrade Brands has shown a fluctuating performance in recent months. Notably, Highgrade Brands ranked 32nd in May 2024, improved to 28th in June, and then slightly declined to 30th in July before dropping out of the top 20 in August. This volatility in rank is contrasted by competitors such as BLAST, which consistently improved from 31st in May to 24th in July, and maintained a presence in the top 20 in August. Similarly, Good Buds showed strong performance, ranking 26th in May and 25th in July. Meanwhile, Dabble Extracts and EarthWolf Farms also demonstrated competitive sales, with Dabble Extracts re-entering the top 30 in August. These trends suggest that while Highgrade Brands has potential, it faces stiff competition from brands that are either consistently improving or maintaining their market positions, indicating a need for strategic adjustments to enhance its competitive edge.
Notable Products
In August 2024, the top-performing product for Highgrade Brands was Black Gas Indica Live Resin Cartridge (1g) in the Vapor Pens category, which climbed to the number one rank with sales of 179 units. Hawaiian Snow Live Resin (1g) in the Concentrates category maintained a strong performance, holding the second position despite a significant drop in sales compared to previous months. Black Gas Resin (1g), also in the Concentrates category, fell to third place from its consistent first-place ranking in the preceding months. Pineapple Rosin Syrup (100mg) in the Beverage category improved its position to fourth place from fifth in July. Pineapple Syrup (100mg), another Beverage product, entered the rankings for the first time in August, securing the fourth position.
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.
