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Oct-2024
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Overview
Market Insights Snapshot
In the state of Massachusetts, Sip has shown a consistent presence in the Beverage category, maintaining a rank within the top 16 brands over the past four months. Despite a slight dip in sales from July to October, Sip has managed to retain its position, indicating a stable consumer base in this category. Their rank fluctuated slightly, dropping to 16 in August before climbing back to 14 by October, suggesting some resilience in a competitive market. This stability in ranking amidst declining sales might indicate strong brand loyalty or effective marketing strategies that keep them relevant among Massachusetts consumers.
In the Tincture & Sublingual category, Sip has experienced mixed performance. While they held a steady 7th rank in July, August, and October, they dropped out of the top 30 in September. This absence indicates a significant challenge or shift in consumer preferences during that month. However, their ability to regain the 7th position in October suggests a quick recovery, possibly due to strategic adjustments or new product offerings. This fluctuation highlights the dynamic nature of the Tincture & Sublingual market in Massachusetts and suggests areas where Sip could focus on strengthening its market presence.
Competitive Landscape
In the Massachusetts beverage category, Sip has experienced fluctuating rankings over the past few months, indicating a competitive landscape. Despite a drop from 14th to 16th place in August 2024, Sip regained its 14th position by October. This resilience is noteworthy, especially considering the consistent performance of competitors like Drink Loud, which climbed steadily from 17th to 11th place, and Nectar, maintaining a top 12 position throughout the period. Meanwhile, Wynk and Good Feels Inc have struggled to break into higher ranks, with Wynk even dropping to 18th place by October. Although Sip's sales saw a decline from July to October, the brand's ability to maintain its rank amidst these shifts suggests a stable customer base and potential for growth if strategic adjustments are made to counteract the sales dip.
Notable Products
In October 2024, Sip's top-performing product was Bong Pop Red Soda 5mg, maintaining its first-place ranking from September with notable sales of 1579 units. The CBD/THC 1:1 Half & Half Soda 5mg CBD, 5mg THC made a significant leap to second place, having not been ranked in the previous two months. Energy - Orange Soda 5mg dropped one position from September, landing in third place with sales of 1060 units. The CBD/THC/CBN 5:5:1 Couchlock Grape Infused Soda 5mg CBD, 5mg THC, 1mg CBN also fell from its earlier second-place ranking in July and August to fourth place in October. Lemon Soda 5mg entered the rankings for the first time in October, securing the fifth spot.
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.
