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Aug-2024
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Overview
Market Insights Snapshot
Press has demonstrated consistent performance in the Capsules category across the state of California. Maintaining a steady rank of 13th from May through August 2024, the brand shows resilience and stability in its market position. This consistency is a positive indicator of customer loyalty and product reliability within the Capsules category. Although the sales figures experienced a slight dip from $16,011 in June to $15,305 in August, the overall ranking has not been affected, suggesting that Press has managed to retain its competitive edge despite minor fluctuations in sales volume.
However, it is important to note that Press did not make it into the top 30 brands in other states or categories during this period, which could be seen as a potential area for improvement. The absence of rankings in other states or categories might indicate limited market penetration or brand recognition outside of California's Capsules category. This highlights the opportunity for Press to explore and expand its presence in other regions and product categories to diversify its market footprint and enhance overall brand performance.
Competitive Landscape
In the competitive landscape of the California capsules category, Press has maintained a consistent rank of 13th from May 2024 through August 2024. This stability in ranking indicates a steady market presence, though it faces significant competition. Notably, Proof has consistently ranked higher, holding positions between 10th and 11th during the same period, suggesting a stronger market penetration and potentially higher brand loyalty. Meanwhile, Halfpipe Cannabis emerged in July 2024 at the 12th position and maintained it through August, indicating a rapid ascent that could pose a future threat to Press’s market share. Kind Medicine, although ranked lower at 14th, has shown a slight increase in sales from May to June, which could signify growing consumer interest. Press's consistent ranking amidst these shifts highlights its stable yet vulnerable position in a competitive market, emphasizing the need for strategic marketing efforts to enhance its standing.
Notable Products
In August 2024, the top-performing product for Press was the THC Hard Pressed Tablets 20-Pack (1000mg) in the Capsules category, maintaining its first-place ranking from previous months with a sales figure of 481 units. The THC Hard Pressed Tablets 2-Pack (100mg), also in the Capsules category, held steady in second place with 130 units sold. The Port Berry Cold Cure Live Rosin Disposable (0.5g) in the Vapor Pens category remained in third place, though its sales significantly dropped to 5 units. The Peppermint Tablets 10-Pack (100mg) and the Sweet Peppermint Dissolvable Tablets 10-Pack (100mg) were not ranked in August 2024, indicating a possible discontinuation or stock issue. Overall, the top products have shown consistency in their rankings, with the Capsules category leading in both sales and stability.
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.
