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Nov-2024
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Overview
Market Insights Snapshot
Space Gem has shown a consistent presence in the California edibles market, maintaining a position within the top 20 brands over the past few months. Notably, the brand improved its ranking slightly from 20th in August and September to 18th in October, before settling back to 19th in November. This fluctuation suggests that while Space Gem is a steady competitor, it faces dynamic competition in the California edibles category. The sales figures reflect this trend, with a peak in October, achieving $341,614, before a notable dip in November. This pattern indicates a potential seasonal effect or market shift, which could be worth exploring further for strategic insights.
Across other states, Space Gem's absence from the top 30 rankings in categories outside of California could be seen as a challenge, highlighting areas for potential growth or market penetration. The brand's focus seems to be heavily concentrated within California, which might suggest a strategic decision to consolidate its strength in a single, albeit significant, market. However, expanding its footprint into other states could provide opportunities for growth and diversification. The performance in California serves as a benchmark for what could be achieved elsewhere, should Space Gem decide to broaden its geographical reach.
Competitive Landscape
In the competitive landscape of the California edible cannabis market, Space Gem has shown a slight improvement in its ranking from August to October 2024, moving from 20th to 18th place, before dropping back to 19th in November. This fluctuation in rank highlights the dynamic nature of the market and the intense competition Space Gem faces. Notably, Dr. Norm's consistently outperformed Space Gem, maintaining a higher rank throughout these months and demonstrating stronger sales growth, particularly in October where their sales were significantly higher. Meanwhile, Cruisers showed a remarkable upward trend, climbing from 37th in August to 18th in November, suggesting a rapid increase in consumer preference or market penetration. In contrast, Happy Fruit and Petra experienced more volatility, with Happy Fruit dropping out of the top 20 by November and Petra maintaining a similar trajectory to Space Gem. These insights indicate that while Space Gem is holding its ground, there is significant pressure from competitors, necessitating strategic adjustments to enhance its market position.
Notable Products
In November 2024, Sweet Space Drops Gummies 10-Pack (100mg) emerged as the top-performing product for Space Gem, climbing from its consistent second place in the previous months to first, with notable sales of 5470 units. Sour SpaceDrops Gummies 10-Pack (100mg), which had held the top rank from August to October, fell to second place, with a decrease in sales to 4750 units. Premium Sour Assorted Made With Ice Water Gummy Drops 10-Pack (100mg) maintained its steady third-place ranking throughout the months. Sweet Assorted Solventless Gummy (100mg) improved its position from fifth in September and October to fourth in November. Lastly, the CBD/THC 1:1 SpaceDrops Ice Water Hash Gummies 10-Pack (50mg CBD, 50mg THC) dropped to fifth place, reflecting a decrease in sales compared to October.
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.
