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Sep-2024
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Overview
Market Insights Snapshot
Petra's performance in the Edible category across various states has shown both consistency and fluctuation in rankings. In California, Petra maintained a steady 16th position from June to September 2024, indicating a stable presence in a competitive market. This stability contrasts with their performance in Michigan, where the brand experienced some movement, ranking 30th in June, improving to 24th in July, and then slightly fluctuating between 28th and 26th in the following months. Such trends suggest that Petra's strategies might be resonating better with consumers in Michigan compared to other states.
Conversely, Petra's presence in Illinois and Massachusetts has not been as strong, with rankings consistently outside the top 30, peaking at 51st and 59th respectively by September 2024. This indicates potential challenges in capturing market share in these regions. Interestingly, in Ohio, Petra managed to re-enter the top 30 in July after a brief exit, showing resilience and potential for growth with a consistent 27th rank in both August and September. These insights highlight Petra's varied performance across states, with some markets showing promise and others presenting opportunities for strategic improvements.
Competitive Landscape
In the competitive landscape of the edible cannabis market in California, Petra has maintained a consistent rank at 16th place from June to September 2024. This stability in ranking suggests a steady performance, although it is noteworthy that competitors like Clsics and Kiva Chocolate have consistently outperformed Petra, occupying higher ranks at 13th and 15th respectively. Despite Petra's consistent rank, its sales figures have shown a slight downward trend over the months, which could indicate a need for strategic adjustments to enhance market share. Meanwhile, ABX / AbsoluteXtracts and Dr. Norm's have fluctuated around Petra's rank, suggesting a competitive environment where minor changes in strategy could significantly impact Petra's positioning. Understanding these dynamics can provide valuable insights for stakeholders looking to optimize Petra's market performance.
Notable Products
In September 2024, Petra's top-performing product was the Moroccan Mints 40-Pack (100mg), maintaining its number one rank for four consecutive months with a sales figure of 14,438. The THC/CBN 2.5:1 Blackberry Mints 40-Pack (100mg THC, 40mg CBN) climbed to the second position, showing a consistent upward trend from fourth in June to second in September. The Pineapple Mints 40-Pack (100mg) slipped to third place despite a strong performance earlier, holding the second rank in the previous months. The THC/CBN 2:1 Blackberry Mints 40-Pack (80mg THC, 40mg CBN) remained stable in fourth place, reflecting steady sales. Notably, the Saigon Cinnamon Mints 40-Pack (100mg) entered the rankings in September at fifth, indicating a new contender in Petra's lineup.
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.
