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Oct-2024
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Overview
Market Insights Snapshot
The performance of Nordic Goddess in the Topical category showcases a varied landscape across different states. In Colorado, the brand consistently held the 4th position from July to October 2024, despite a noticeable decline in sales over the months, indicating a stable market presence but potential challenges in maintaining sales volume. In contrast, Massachusetts saw a slight dip in ranking from 3rd to 4th place in October, alongside a decrease in sales from August to October, which might suggest increasing competition or market dynamics affecting Nordic Goddess's standing. However, the brand's top performance in Nevada, where it maintained the number one spot throughout the same period, highlights its dominance in this state, supported by a strong rebound in sales from September to October.
Analyzing these movements, it is evident that Nordic Goddess has a strong foothold in the Topical category, especially in Nevada, where it consistently ranks first. The brand's ability to maintain top positions in multiple states, despite some fluctuations in sales, underscores its competitive edge in the market. However, the absence of Nordic Goddess from the top 30 brands in other states or categories suggests potential areas for growth and expansion. This pattern of performance indicates that while the brand has established itself well in certain regions, there may be opportunities to explore new markets or enhance its presence in states where it currently does not rank within the top 30.
Competitive Landscape
In the competitive landscape of the Topical category in Colorado, Nordic Goddess has maintained a consistent rank of 4th place from July to October 2024. This stability in rank, however, masks a concerning trend in sales, which have been on a downward trajectory, decreasing from July's figures to October's. In contrast, competitors like Mary's Medicinals and Mary Jane's Medicinals have shown stronger sales performance, with both brands consistently occupying the top three ranks and experiencing sales growth over the same period. Mary's Medicinals has particularly solidified its position at the top with a slight increase in sales each month, indicating a robust market presence. Meanwhile, Care Division and My Brother's Flower have remained in the 5th and 6th positions respectively, with Care Division showing a slight decline in sales, similar to Nordic Goddess. For Nordic Goddess, these insights suggest the need for strategic adjustments to counteract the declining sales trend and to better compete with the leading brands in the market.
Notable Products
In October 2024, the top-performing product from Nordic Goddess was the CBD/THC 1:1 Cooling Therapeutic Body Balm (250mg CBD, 250mg THC, 2oz) in the Topical category, maintaining its first-place ranking from previous months with sales of 1904 units. The CBG:CBD:THC Vibe 10X Body Balm (2500mg CBG, 2500mg CBD, 2500mg THC, 2oz) also held steady in second place. The THC Cooling Balm (500mg) improved its position to third place, moving up from fourth in September. The CBD/THC 1:1 Therapeutic Body Balm (500mg CBD, 500mg THC) climbed to fourth place after being fifth in September. Meanwhile, the CBD/THC 1:1 Vibe 10x Body Balm (2500mg CBD, 2500mg THC, 2oz) dropped to fifth place, indicating a decline in sales performance compared to earlier months.
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.
