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Oct-2024
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Overview
Market Insights Snapshot
Mr. Honey Extracts has demonstrated a notable upward trajectory in the Arizona concentrates category. Starting from a rank of 8 in July 2024, the brand experienced a slight dip to 10 in August, only to recover and climb to a rank of 4 by October. This impressive climb is accompanied by a significant increase in sales, with October sales reaching $237,129. This indicates a strong market presence and growing consumer preference for their concentrates. In the vapor pens category, however, Mr. Honey Extracts faced more challenges. The brand briefly fell out of the top 30 in August, ranking 41, but managed to recover by October, climbing back to 22. This fluctuation suggests that while there is demand, there might be competitive pressures or market dynamics at play that affect their standing in this category.
The performance of Mr. Honey Extracts across different product categories in Arizona reveals both opportunities and challenges. The brand's ability to recover and improve its ranking in the concentrates category is a positive indicator of its strategic positioning and product appeal. However, the inconsistent performance in vapor pens suggests potential areas for improvement or adaptation in marketing strategies to regain a more stable position. The fluctuations in rankings, particularly the drop out of the top 30 in August, highlight the competitive nature of the market and the necessity for brands to continuously innovate and engage with consumers to maintain a strong presence.
Competitive Landscape
In the Arizona concentrates market, Mr. Honey Extracts has shown a remarkable improvement in its competitive positioning over recent months. Starting with a rank of 8 in July 2024, Mr. Honey Extracts experienced a dip to 10 in August, but quickly rebounded to 7 in September and achieved an impressive rank of 4 by October. This upward trend in ranking indicates a significant increase in market presence and consumer preference. In comparison, High Grade maintained a relatively stable position, fluctuating slightly between ranks 5 and 7, while Drip Oils + Extracts experienced more volatility, dropping to rank 9 in September before recovering to 6 in October. Meanwhile, Grow Sciences and Canamo consistently held higher ranks, with Canamo securing the second position throughout the period. The notable rise of Mr. Honey Extracts suggests a successful strategy in capturing market share from its competitors, likely driven by increased consumer demand and effective marketing efforts.
Notable Products
In October 2024, Chem Sis Budder (1g) emerged as the top-performing product for Mr. Honey Extracts, leading the sales with 3,272 units sold. Newport Budder (1g) closely followed in second place, showing strong performance. Hippie Crasher Shatter (1g) secured the third position, maintaining its ranking from the previous month. Hell Billy Budder (1g) improved its standing, rising from the fifth position in September to fourth place in October. Old Family Purple Sugar Wax (1g) entered the top five rankings for the first time, indicating a positive shift in consumer preference.
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.
