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Aug-2024
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Overview
Market Insights Snapshot
OM's performance in the Topical category across different states has shown both stability and decline over the past few months. In California, OM maintained a steady rank of 10 in May and June 2024 but experienced a gradual decline to rank 12 in July and further down to rank 13 in August. This downward trend is indicative of a possible shift in consumer preferences or increased competition within the Topical category. The sales figures also reflect this trend, with a noticeable decrease from $29,824 in May to $16,294 in August, suggesting a significant reduction in market share or consumer interest over the summer months.
In other states, OM's presence in the Topical category appears to be less prominent, as they did not rank within the top 30 brands in any other state during this period. This absence could be viewed as a missed opportunity for OM to expand its market reach and increase brand visibility. Conversely, it also highlights the brand's stronghold in California, where it continues to be a notable player despite the recent decline. This mixed performance across states suggests that OM may benefit from strategic adjustments in marketing and distribution to bolster its position both within and outside of California.
Competitive Landscape
In the California Topical category, OM has experienced fluctuations in its ranking and sales over recent months, which could be attributed to competitive pressures and market dynamics. OM held steady at the 10th position in May and June 2024 but saw a decline to 12th in July and further to 13th in August. This downward trend in rank is mirrored by a consistent drop in sales, from $29,824 in May to $16,294 in August. Competitors like Proof and Dr. May have shown more stability, with Proof maintaining a close competition by ranking 11th in May and August, and Dr. May showing a slight improvement from 13th in May to 11th in August. Meanwhile, Wild Bill's and Blue Sage have remained on the lower end of the top 20, indicating less immediate threat but still contributing to the competitive landscape. These insights suggest that OM may need to reassess its market strategies to regain and maintain a higher rank and stabilize its sales in the California Topical market.
Notable Products
In August 2024, the top-performing product for OM was CBD/THC 1:1 Lavender Epsom Bath Salts (25mg CBD, 25mg THC, 6.5oz) in the Topical category, with sales reaching 208 units. This product climbed to the number one spot from its previous rank of second in July 2024. The Lavender Sweet Dreams Bath Bomb (50mg) achieved the second rank with notable sales of 144 units, making a significant debut in the rankings. CBD/THC 1:1 Arnica Pain Relief Epsom Bath Salts (25mg CBD, 25mg THC) maintained a steady position at third with slight fluctuations in sales over the past months. Lastly, CBD/THC 1:1 Himalayan Kush Mineral Bath Salts (25mg CBD, 25mg THC) entered the top rankings at fourth place, showing a rising trend in popularity.
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.
