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Nov-2024
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Overview
Market Insights Snapshot
Physic Cannabis Therapy has demonstrated a notable performance in the Topical category in Oregon. The brand made a significant leap in the rankings by October 2024, securing the 5th position, which they maintained through November. This movement is particularly impressive considering that the brand was not ranked in the top 30 in August and September, highlighting a successful strategy or product launch that resonated well with consumers. The increase in rank is supported by the growth in sales, with a notable rise from October to November, indicating a sustained demand for their products in this category.
While Physic Cannabis Therapy's performance in Oregon's Topical category is impressive, the absence of their ranking in other states or categories suggests that their market penetration is either limited or not as competitive in those areas. This lack of presence in the top 30 rankings outside of Oregon could be seen as a potential area for growth or a strategic focus for the brand. It will be interesting to observe whether Physic Cannabis Therapy will expand its successful approach in Oregon to other states or categories, leveraging its recent success to build a broader market presence.
Competitive Landscape
In the competitive landscape of the Oregon topical cannabis market, Physic Cannabis Therapy has shown a promising upward trajectory in recent months. After not appearing in the top 20 rankings for August and September 2024, Physic Cannabis Therapy emerged strongly in October, securing the 5th position, which it maintained through November. This rise in rank coincides with a notable increase in sales, surpassing brands like Peak Extracts and Angel (OR), both of which experienced fluctuating or lower sales figures during the same period. Despite being consistently outranked by Medicine Farm and Synergy Skin Worx, Physic Cannabis Therapy's recent performance suggests a positive growth trend that could potentially challenge these leading competitors if sustained. This dynamic shift highlights the brand's growing influence and potential for increased market share in the Oregon topical category.
Notable Products
In November 2024, the top-performing product for Physic Cannabis Therapy was Wood Balm (313mg CBD, 565mg THC) in the Topical category, which climbed to the number one spot with sales of 200. Field Balms Away (45mg THC, 12mg CBD, 0.18 oz) dropped to the second position after leading in October. CBD:THC 1:3 Wood Balms Away (150mg CBD, 450mg THC, 0.18oz) improved its ranking to third place, showing a significant recovery from its fifth position in October. Field Balm (128mg CBD 460mg THC, 1.8 oz) entered the top ranks for the first time, securing fourth place. Meanwhile, CBD/THC 3:1 Balms Away (150 CBD, 450 THC, 0.18oz) maintained a presence in the top five, although it slipped slightly from fourth to fifth place.
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.
