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Oct-2024
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Overview
Market Insights Snapshot
In the state of Missouri, Honeybee has shown a consistent presence in the Edible category, fluctuating within the top 10 ranks over the past few months. Starting from a rank of 8 in July 2024, Honeybee improved to the 6th position in August, before slipping to the 9th spot in September, and then recovering slightly to 8th in October. This movement indicates a competitive positioning within the market, with a notable peak in sales during August, which suggests a successful promotional strategy or product launch during that period. However, the subsequent dip in September highlights a potential challenge in maintaining momentum or market share against competitors.
The absence of Honeybee in the top 30 brands in other states and categories suggests that their market presence is currently concentrated in Missouri, particularly within the Edible category. This could be seen as a limitation in their brand reach or a strategic focus on a specific market segment. The consistent ranking within Missouri, despite the competitive landscape, emphasizes Honeybee's niche strength. However, the lack of presence in other regions could be an area for potential growth or diversification to enhance their brand footprint across different states and categories.
Competitive Landscape
In the Missouri edible cannabis market, Honeybee has shown a consistent performance in the rankings over the past few months, maintaining its position within the top 10 brands. In July 2024, Honeybee was ranked 8th, improved to 6th in August, and then fluctuated slightly to 9th in September before returning to 8th in October. This stability is notable given the competitive landscape. For instance, Kosmik Brands has been a strong competitor, consistently ranking higher than Honeybee, peaking at 5th in August. Meanwhile, Illicit / Illicit Gardens experienced a significant jump to 6th in September, surpassing Honeybee temporarily. Panda (MO) also poses a challenge, maintaining a rank close to Honeybee, often just one position ahead or behind. Despite these fluctuations, Honeybee's sales figures have shown resilience, particularly in August where it saw a notable increase, aligning with its peak rank for the period. This suggests that while the brand faces stiff competition, it has managed to sustain consumer interest and sales momentum effectively.
Notable Products
In October 2024, the top-performing product for Honeybee was the CBD/THC 1:1 Salted Brownie Batter High Potency Dark Chocolate 10-Pack, which achieved the number one rank with notable sales of 2132 units. The Blood Orange Strawberry Gumdrops 20-Pack maintained a strong position, ranking second, consistent with its performance in September. The Black Cherry Cola Gumdrops 5-Pack made a significant entry into the top rankings, securing the third position. The CBD/THC 1:1 Sour Watermelon Passionfruit High Potency Gumdrops held steady at fourth place, showing a consistent ranking from August. Meanwhile, the Tangerine Dream Rosin Infused Gumdrops debuted in the top five, marking its first appearance in the rankings for October.
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.
