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Oct-2024
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Overview
Market Insights Snapshot
In the state of Colorado, LIT has experienced fluctuations within the Flower category over the past few months. Starting from July 2024, LIT was ranked 21st, and although they improved to 17th place in September, by October they had dropped back to 22nd. This indicates a volatile performance which could be due to various market dynamics or competitive pressures. Despite the ups and downs in ranking, LIT's sales in Colorado showed a significant drop in October, which might be an area of concern for the brand's strategy in this region.
Meanwhile, in Massachusetts, LIT's Flower category performance has been on a gradual rise, moving from the 62nd position in July to 40th by October. This upward trend suggests a strengthening presence in the Massachusetts market, possibly due to increased consumer recognition or effective marketing strategies. In Nevada, LIT only entered the top rankings in September, debuting at 94th and climbing to 70th by October. This late entry into the top 100 could signify a recent push or expansion into the Nevada market, highlighting potential growth opportunities for LIT in the state.
Competitive Landscape
In the Massachusetts flower category, LIT has shown a notable upward trajectory in its rankings over the past few months, moving from a rank of 62 in July 2024 to 40 by October 2024. This improvement indicates a positive trend in market presence and consumer preference. Despite this progress, LIT still faces stiff competition from established brands like Smyth Cannabis Co., which, although experiencing fluctuations, maintained a slightly better rank, ending at 36 in October. Similarly, Bountiful Farms and Standard Farms have shown resilience, with Bountiful Farms ending at rank 35 and Standard Farms, despite a drop, still being a formidable competitor. The competitive landscape suggests that while LIT is gaining ground, it must continue to innovate and capture market share to surpass these competitors and solidify its position in the Massachusetts flower market.
Notable Products
In October 2024, London Pound Cake (3.5g) maintained its top position as the leading product for LIT, with sales amounting to 2847 units. Sherbert Sundae (3.5g) advanced to the second spot, showing a significant rise from its previous third place in August 2024. Double Myntz (3.5g) entered the rankings this month at the third position, indicating a strong market reception. Afgoo (3.5g) also made its debut in the rankings at fourth place. Blue Garlic (3.5g) held steady at fifth place, slightly increasing its sales figures from September 2024.
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.
