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Feb-2024
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Overview
Market Insights Snapshot
In Illinois, Island's performance across the Flower and Pre-Roll categories has shown notable trends. In the Flower category, there was a significant drop in ranking from November 2023 to February 2024, moving from 26th to 43rd place. This downward trend is mirrored in sales figures, with a sharp decrease from $644,724 in November 2023 to $157,734 in February 2024, indicating a potential challenge in maintaining market share in this category. Conversely, the Pre-Roll category tells a different story, with an improvement in rank from 37th in November 2023 to 30th by February 2024, accompanied by a substantial increase in sales from $54,803 to $77,503 in the same period. This suggests a growing consumer preference or improved market strategies for Island's Pre-Rolls in Illinois.
In Massachusetts, Island has demonstrated varied performance across three categories: Flower, Pre-Roll, and Vapor Pens. The brand maintained a stable position in the Flower category, with slight fluctuations in rank but a notable peak in January 2024 at 18th place. Sales in this category peaked in January 2024 at $620,352 before experiencing a decline. The Pre-Roll category saw improvement, moving from a rank of 29th in November 2023 to 22nd by February 2024, indicating a positive trajectory. However, the Vapor Pens category experienced a significant drop, falling from 31st place in November 2023 to being out of the top 30 by February 2024, with sales plummeting to $19,993, highlighting a significant area of concern for the brand in Massachusetts. Meanwhile, in Washington, Island's presence was less significant, with the brand struggling to maintain a top position in the Flower category and disappearing from the Pre-Roll rankings after November 2023, suggesting challenges in these markets.
Competitive Landscape
In the competitive landscape of the cannabis flower category in Massachusetts, Island has shown a notable performance amidst its competitors. Throughout the observed period from November 2023 to February 2024, Island maintained a strong position in the rankings, starting at 22nd in November and December, improving to 18th in January, before experiencing a slight dip to 28th in February. This fluctuation in rank, especially the drop in February, could signal a need for strategic adjustments to counteract the competitive pressures from brands like Simpler Daze, which saw a significant rise from 71st in November to 27th in February, and Cresco Labs, which improved from 45th in November to 26th in February. Both competitors showed remarkable sales growth during this period, which could be influencing Island's market position. Conversely, Smyth Cannabis Co. and The Fresh Connection also experienced shifts in their rankings, but neither demonstrated a consistent upward trajectory, suggesting that Island's main threats come from those brands achieving rapid growth. Understanding these dynamics is crucial for Island to navigate the competitive landscape effectively and leverage opportunities for growth and market share expansion in the Massachusetts cannabis market.
Notable Products
In February 2024, Island's top-selling product was Jungle Sunset Pre-Roll (1g) in the Pre-Roll category, with sales reaching 5991 units, marking a notable increase from its January sales. Following closely was Jungle Canyon Pre-Roll (1g), also in the Pre-Roll category, securing the second position without having been ranked in the previous months. The third spot was taken by Jungle Sunset (3.5g) in the Flower category, which moved down from the top position in January to third in February. Candy Cake Pre-Roll (1g) saw a slight improvement in its ranking, moving up to fourth in February from fifth in January. Lastly, Candy Cake (3.5g) in the Flower category dropped from second in January to fifth in February, indicating a shift in consumer preference within Island's product line.
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.
