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Nov-2024
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Overview
Market Insights Snapshot
Nordic Goddess has demonstrated varying performance across different states and categories, reflecting both strengths and challenges in its market presence. In the Colorado market, the brand has maintained a consistent rank of 4th place in the Topical category from August to November 2024, despite a noticeable decline in sales from $130,668 in August to $73,589 in November. This consistent ranking amidst declining sales suggests strong brand loyalty or a stable demand for their topical products, even as the market might be experiencing broader fluctuations. Meanwhile, in Massachusetts, Nordic Goddess saw an improvement in its ranking, moving from 4th place in October to 2nd in November, indicating a positive reception or strategic market penetration that has enhanced its competitive position in the topical category.
In Nevada, Nordic Goddess has shown a varied performance in the Topical category, holding the top rank from August through October before dropping to 3rd place in November. This shift could be indicative of increased competition or changing consumer preferences, as the sales figures also reflect a significant decrease from $91,585 in August to $44,524 in November. The absence of Nordic Goddess from the top 30 rankings in any other state or category highlights areas where the brand may not yet have a strong foothold, presenting both a challenge and an opportunity for future growth. These trends across states underscore the importance of market-specific strategies to maintain and improve brand positioning in the competitive cannabis industry.
Competitive Landscape
In the competitive landscape of the Topical category in Colorado, Nordic Goddess consistently held the 4th rank from August to November 2024. Despite maintaining a stable rank, Nordic Goddess experienced a notable decline in sales over this period, suggesting potential challenges in market penetration or consumer retention. In contrast, Mary's Medicinals and Mary Jane's Medicinals alternated between the top two positions, indicating a strong competitive edge with higher sales figures. This consistent top-tier performance by competitors highlights the need for Nordic Goddess to innovate or enhance its marketing strategies to boost its sales and potentially climb the ranks. Meanwhile, Care Division and My Brother's Flower remained in the 5th and 6th positions, respectively, with sales figures significantly lower than Nordic Goddess, suggesting that while Nordic Goddess faces stiff competition from the top brands, it still holds a competitive advantage over the lower-ranked brands.
Notable Products
In November 2024, the top-performing product from Nordic Goddess was the CBD/THC 1:1 Cooling Therapeutic Body Balm, which maintained its first-place position from previous months, though its sales figure dropped to 1101 units. The CBG:CBD:THC Vibe 10X Body Balm held steady at the second rank, showing consistency across the months. The CBD/THC 1:1 Therapeutic Body Balm improved its position from fourth in October to third in November, indicating a positive trend. The THC Cooling Balm experienced a slight decline, moving from third to fourth place. Lastly, the CBD/THC 1:1 Vibe 10x Body Balm remained in fifth place, continuing its stable performance in the rankings.
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.
