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Oct-2024
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Overview
Market Insights Snapshot
Terra's performance across various states in the Edible category has shown interesting dynamics over the past few months. In California, Terra maintained a steady position within the top 30 brands, starting at rank 22 in July and only slightly dropping to rank 23 by October. This stability is noteworthy given the competitive nature of the California market. Meanwhile, in Illinois, Terra's ranking oscillated between 29 and 30, indicating a relatively stable presence in the top 30, which reflects a consistent demand for their products. However, it's worth noting that in Arizona, Terra did not make it into the top 30 rankings, suggesting a challenging market environment for the brand in this state.
In the eastern states, Terra's performance varied. In Massachusetts, the brand hovered around the 37 to 40 ranking range, with a slight improvement to rank 39 in October, suggesting a potential upward trend. Conversely, in Ohio, Terra experienced fluctuations, dropping to rank 41 in October despite a higher ranking earlier in the quarter. Meanwhile, Michigan saw a positive trajectory for Terra, as it improved its position from rank 47 in July to 43 in October, indicating growing consumer interest. These movements highlight Terra's varied performance across states, with some markets showing promise while others present challenges.
Competitive Landscape
In the competitive landscape of the California edible market, Terra has shown a consistent presence, maintaining a rank of 22nd from July to September 2024 before slipping to 23rd in October 2024. This slight decline in rank coincides with a decrease in sales from September to October, which could be attributed to the rise of competitors like Zen Cannabis, which improved its position from 23rd to 22nd in October. Additionally, Cruisers demonstrated a significant upward trajectory, moving from outside the top 20 in July to 24th by October, suggesting an increasing competitive pressure. Meanwhile, Big Pete's Treats and Punch Extracts / Punch Edibles remained outside the top 20, indicating that Terra still holds a stronger market position compared to these brands. The overall trend suggests that while Terra has been a stable player, the competitive dynamics are shifting, and strategic adjustments may be necessary to regain and strengthen its market position.
Notable Products
In October 2024, Terra's top-performing product was Milk Chocolate Sea Salt Caramel Bites 20-Pack (100mg), maintaining its first-place ranking from August, with notable sales of 9,400 units. Dark Chocolate Espresso Bean Bites 20-Pack (100mg) held the second spot, swapping positions with the Sea Salt Caramel Bites from the previous month. Consistently in third place, Blueberry Milk Chocolate Bites 20-Pack (100mg) demonstrated stable performance over the past few months. THC/CBN 5:2 Milk And Cookies Chocolate Bites 20-Pack (100mg THC, 40mg CBN) and CBD/THC 1:1 Dark Chocolate Covered Almonds Bites 20-Pack (100mg CBD, 100mg THC) have remained in fourth and fifth positions, respectively, since July 2024. This consistency in product rankings highlights a strong brand preference among consumers for Terra's edible offerings.
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.
