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Aug-2024
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Overview
Market Insights Snapshot
Terra's performance in the Edible category shows a mixed but generally positive trend across several states. In California, Terra maintained a steady position, holding the 20th rank from June to August 2024, with a noticeable uptick in sales in August. This consistency indicates a solid presence in one of the largest cannabis markets. Meanwhile, in Illinois, Terra improved its ranking from 32nd in May to 27th in August, showing a gradual but steady climb. This upward movement is a positive indicator of growing brand recognition and consumer preference in the state. However, in Arizona, Terra did not break into the top 30, which could be a concern for market penetration efforts in that region.
In Massachusetts, Terra saw a significant improvement, moving from 40th in May to 31st in August, suggesting an increasing acceptance and demand for their products. On the other hand, in Michigan, Terra's ranking remained relatively stagnant, hovering around the mid-40s, which might indicate challenges in gaining a competitive edge. Notably, in Ohio, Terra experienced a positive shift, jumping from 35th in May to 29th in August, coupled with a significant rise in sales, nearly doubling from July to August. This suggests a growing market presence and could be a potential area for strategic focus. Overall, Terra's performance across these states highlights both areas of strength and opportunities for improvement.
Competitive Landscape
In the competitive landscape of the California edibles market, Terra has shown a steady performance, maintaining its rank at 20th position from June to August 2024. This consistent ranking indicates a stable market presence, although Terra's sales have fluctuated, peaking at $287,286 in August 2024. In comparison, Space Gem has demonstrated a slight upward trend, moving from 19th to 18th position, suggesting a growing consumer preference. Meanwhile, Dr. Norm's experienced a minor decline, dropping from 18th to 19th rank, which could indicate a potential opportunity for Terra to capitalize on shifting consumer preferences. Big Pete's Treats and Zen Cannabis have remained outside the top 20, highlighting a more significant gap in market penetration compared to Terra. These insights suggest that while Terra is holding its ground, there is room for strategic initiatives to climb higher in the rankings and capture a larger market share.
Notable Products
In August 2024, Terra's top-performing product was Milk Chocolate Sea Salt Caramel Bites 20-Pack (100mg), which maintained its first-place ranking from May and achieved notable sales of 11,234 units. Dark Chocolate Espresso Bean Bites 20-Pack (100mg) followed closely in second place, having swapped rankings with the top product multiple times over the previous months. The Blueberry Milk Chocolate Bites 20-Pack (100mg) consistently held the third position throughout the past four 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) remained stable in the fourth and fifth positions, respectively. Overall, Terra's product rankings showed a clear pattern of consistency with minor fluctuations at the top.
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.
