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Aug-2024
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Overview
Market Insights Snapshot
Liquid Gold has demonstrated varied performance across different states and categories in recent months. In Massachusetts, the brand did not rank within the top 30 for Vapor Pens from May through August 2024, indicating a challenging market presence in the state. This lack of ranking suggests that Liquid Gold may need to reassess its strategy or product offerings in Massachusetts to better compete with other leading brands. On the other hand, the brand's presence in Michigan shows a more consistent, albeit declining, performance. Liquid Gold ranked 81st in June, 86th in July, and 92nd in August for Vapor Pens, reflecting a downward trend that could be due to increased competition or changing consumer preferences.
In terms of sales, Liquid Gold experienced a significant drop in Michigan from June to August 2024. The brand's sales figures decreased from $75,453 in June to $30,953 in August, highlighting potential areas of concern that may need to be addressed to regain market share. This decline in sales could be attributed to various factors, including market saturation or shifts in consumer demand. The absence of Liquid Gold from the top 30 rankings in Massachusetts further emphasizes the need for strategic improvements to enhance brand visibility and competitiveness in key markets.
Competitive Landscape
In the competitive landscape of Vapor Pens in Michigan, Liquid Gold has experienced a notable decline in rank and sales over the summer of 2024. Starting from an unranked position in May, Liquid Gold dropped to 81st in June, 86th in July, and further down to 92nd in August. This downward trend is significant when compared to competitors like 710 Labs, which maintained a strong presence with ranks of 54 and 53 in May and June respectively, before dropping out of the top 20. Similarly, Summit and Monster Xtracts also showed fluctuating but relatively higher ranks, with Summit appearing in May at 97th and Monster Xtracts ranking 94th in July and 87th in August. Doobies entered the scene in August at 90th, further highlighting Liquid Gold's struggle to maintain its market position. These insights suggest that Liquid Gold faces significant competition and declining consumer interest, which could impact its long-term market share unless strategic adjustments are made.
Notable Products
In August 2024, the top-performing product for Liquid Gold was the King Louis XIII Distillate Cartridge (1g) in the Vapor Pens category, which climbed to the number one rank with sales of 1612 units. The Tropicana Cookies Distillate Cartridge (1g), also in the Vapor Pens category, held the second rank with a notable drop from its first position in July. The Lime Sorbet Distillate Cartridge (1g) maintained a steady third rank in the Vapor Pens category. The Blueberry Kush Distillate Cartridge (1g) fell to the fourth rank, showing a significant decrease in sales compared to previous months. The Sativa Apple Citrus Spray Tincture (1000mg THC, 0.68oz) entered the top five for the first time, securing the fifth position in the Tincture & Sublingual category.
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.
