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Oct-2024
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Overview
Market Insights Snapshot
Rave has demonstrated a fluctuating performance across various categories and states, with notable movements particularly in the Massachusetts market. In the Concentrates category, Rave started strong with a consistent 5th place ranking in both July and August 2024. However, the brand experienced a decline, dropping to 6th place in September and further down to 10th place by October. This downward trend in rankings is mirrored by a decrease in sales, with October sales figures showing a significant drop from previous months. Such a shift indicates potential challenges in maintaining consumer interest or increased competition within the category.
In the Vapor Pens category, Rave's presence is less prominent in Massachusetts, as evidenced by their absence from the top 30 rankings after July, where they were ranked 88th. This suggests that Rave might be struggling to establish a foothold in this category, possibly due to stronger competitors or less effective market strategies. The lack of appearance in the rankings for subsequent months highlights areas for potential improvement or reevaluation of their product offerings in this category. Such performance insights could be crucial for Rave to strategize future growth and better capture market share across these product lines.
Competitive Landscape
In the Massachusetts concentrates market, Rave experienced a notable shift in its competitive standing from July to October 2024. Initially holding a strong position at rank 5 in July and August, Rave saw a decline to rank 6 in September and further dropped to rank 10 by October. This downward trend in rank coincides with a decrease in sales, indicating potential challenges in maintaining market share. Meanwhile, Cloud Cover (C3) consistently improved its rank, moving from 10th to 7th, and saw an increase in sales, suggesting a growing consumer preference or effective marketing strategies. Similarly, Regenerative made a significant leap from being outside the top 20 in August to achieving 12th place by October, with a corresponding sales boost. These shifts highlight the dynamic nature of the market and suggest that Rave may need to reassess its strategies to regain its earlier competitive edge.
Notable Products
In October 2024, the top-performing product from Rave was Raspberry Cooler Crumble (1g) in the Concentrates category, which secured the number one rank with sales reaching 662 units. Pink Runtz Wax (1g) maintained strong sales, holding the second position after being the top product in September. Skunk #1 Wax (1g) emerged in the rankings at third place, showing a notable entry for the month. Sour Berry Blue Shatter (1g) held steady at fourth place, while Oreoz Shatter (1g) dropped to fifth from its previous first place in August. This month's rankings reflect a dynamic shift in consumer preferences, with Raspberry Cooler Crumble taking the lead and Oreoz Shatter experiencing a decline in sales.
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.
