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Aug-2024
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Overview
Market Insights Snapshot
Terp Stix has shown mixed performance across various states and categories in recent months. In Illinois, the brand's ranking in the Pre-Roll category has seen a downward trend, moving from 29th place in May 2024 to 43rd place by August 2024, indicating a significant decline. This drop is reflected in their sales figures, which fell from $145,057 in May to $38,105 in August. The fact that Terp Stix fell out of the top 30 brands in Illinois by July suggests that competition in the Pre-Roll category is particularly intense, and the brand may need to re-evaluate its strategy in this market.
Conversely, Massachusetts has been a more favorable market for Terp Stix. The brand's ranking improved from 38th place in May 2024 to 23rd place by August 2024. This positive movement is corroborated by a steady increase in sales, which grew from $183,153 in May to $291,175 in August. The upward trend in Massachusetts indicates that Terp Stix is gaining traction in this state, possibly benefiting from effective marketing strategies or consumer preferences. In Washington, the brand's performance has been relatively stable, hovering around the mid-40s in ranking, with a slight improvement to 42nd place in August. Despite not breaking into the top 30, the consistent sales growth suggests a steady, if modest, demand for their products in this market.
Competitive Landscape
In the competitive landscape of the Massachusetts pre-roll category, Terp Stix has shown a notable upward trend in rank and sales over the past few months. Starting from a rank of 38 in May 2024, Terp Stix climbed to rank 23 by August 2024, indicating a significant improvement in market position. This positive trajectory is further underscored by a substantial increase in sales, from $183,153 in May to $291,175 in August. In comparison, Bask (MA) maintained relatively stable ranks around the 18-21 range, with sales peaking at $374,005 in July but experiencing a slight decline to $332,132 in August. Meanwhile, Miss Grass and Glorious Cannabis Co. also showed upward trends, with Miss Grass moving from rank 50 to 24 and Glorious Cannabis Co. from rank 35 to 25 over the same period. However, Perpetual Harvest experienced a more volatile performance, dropping from rank 11 in May to 31 in July before recovering to 22 in August. These dynamics suggest that while Terp Stix is gaining traction, it faces stiff competition from established brands, making continuous market analysis crucial for sustaining its upward momentum.
Notable Products
In August 2024, the top-performing product for Terp Stix was Blueberry Infused Pre-Roll (1g), maintaining its first-place ranking from previous months with sales reaching 3420 units. Pineapple Infused Pre-Roll (1g) held steady at the second rank with significant sales of 3230 units. Jack Herer Distillate Infused Pre-Roll (1g) saw a decrease in ranking to third place from its top position in July 2024. Blue Dream Infused Pre-Roll (1g) entered the rankings in fourth place with notable sales figures. Green Apple Infused Pre-Roll (1g) dropped to fifth place after being unranked in July, showing a consistent but lower performance compared to the other products.
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.
