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Aug-2024
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Overview
Market Insights Snapshot
Lobo's performance across various categories and states shows notable fluctuations, particularly in the pre-roll category in Illinois. Starting at rank 19 in May 2024, Lobo experienced a steady decline, falling out of the top 30 by August 2024. This downward trend suggests challenges in maintaining market share, possibly due to increased competition or shifting consumer preferences. The sales figures corroborate this trend, showing a significant decrease over the months. Such movements indicate that Lobo may need to reassess its strategy or product offerings in Illinois to regain its standing.
In New York, Lobo's performance in the concentrates category shows a more stable trajectory, maintaining a rank between 12 and 15 from May to August 2024. This consistency highlights a relatively stable consumer base for Lobo's concentrates in New York. However, the flower category tells a different story, where Lobo did not make it into the top 30, indicating a weaker position in this segment. The pre-roll category in New York also saw a decline, similar to Illinois, dropping from rank 19 in May to 31 in August. These mixed results across categories and states suggest that while Lobo has found some success, there are areas where significant improvements are needed to enhance overall market performance.
Competitive Landscape
In the competitive landscape of the New York pre-roll category, Lobo has experienced notable fluctuations in its ranking and sales over the past few months. In May 2024, Lobo was ranked 19th, but saw a significant improvement to 15th in June 2024, before dropping to 20th in July and falling out of the top 20 by August 2024. This volatility contrasts with competitors like Hudson Cannabis, which also experienced a decline from 6th in May to 28th in August, and Zizzle, which remained relatively stable but lower in the rankings, consistently hovering around the 27th to 32nd positions. Meanwhile, Alchemy Pure showed an upward trend, moving from 38th in May to 18th in July before dropping to 29th in August. TONIC (NY) demonstrated a steady climb from 63rd in May to 34th in August. These shifts indicate a highly competitive market where Lobo's position is influenced by both its own performance and the dynamic movements of its competitors. Understanding these trends can provide deeper insights into strategic adjustments needed to enhance Lobo's market presence.
Notable Products
In August 2024, the top-performing product for Lobo was Chem Spill Minis Infused Pre-Roll 5-Pack (2.5g), which climbed to the number one spot from second place in July. Lime Meringue Minis Infused Pre-Roll 5-Pack (2.5g) held strong at the second position, showing a notable increase in sales to 940 units. Peach Crescendo Infused Blunt (1g) rose to third place from fifth in July, indicating a significant recovery in its performance. Presidente - Lemon Royale Infused Blunt (2g) saw a drop to fourth place from the top position in July. Lastly, Peach Crescendo Mini Pre-Roll 7-Pack (3.5g) appeared in the fifth position, marking its return to the top five after being absent in July.
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.
