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Oct-2024
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Overview
Market Insights Snapshot
The Bettering Company has shown varied performance across different categories and states over recent months. In Illinois, the brand's presence in the Edible category has seen a declining trend, with rankings slipping from 39th in July 2024 to 52nd by October 2024. This movement out of the top 30 could be a concern for the brand as it suggests a decreasing market share and consumer interest in this state. Despite the drop in ranking, the sales figures also reflect a downward trajectory, indicating a need for strategic adjustments to regain their competitive position in the Illinois market.
In contrast, The Bettering Company has maintained a more stable and promising performance in the Edible category in New York. The brand has consistently ranked within the top 20, holding the 16th position in both July and October 2024. Notably, the sales figures in New York have shown a positive trend, with a significant increase from August to October 2024. This sustained and improving performance in New York suggests a strong brand presence and consumer loyalty, which could be leveraged to further enhance their market position. The contrasting trajectories in Illinois and New York highlight the importance of tailored strategies to address market-specific challenges and opportunities.
Competitive Landscape
In the competitive landscape of the New York edible cannabis market, The Bettering Company has shown a steady performance with a notable upward trend in sales from July to October 2024. Despite fluctuating rankings, The Bettering Company maintained a presence within the top 20, peaking at 16th place in both July and October. This is indicative of a resilient brand strategy amidst a dynamic market. Competitors like Rezinators experienced a significant drop in rank from 11th to 18th, alongside a sharp decline in sales, which could suggest market share opportunities for The Bettering Company. Meanwhile, Generic AF consistently hovered around the 15th rank, showing stable sales, while Foy demonstrated volatility, dropping to 18th in September before rebounding to 14th in October. These shifts highlight potential areas for The Bettering Company to capitalize on, particularly as it outperformed Snoozy, which failed to break into the top 15 until August and remained lower in rank throughout the period.
Notable Products
In October 2024, the top-performing product for The Bettering Company was Laugh - Blackberry Lemonade Gummies 10-Pack (100mg), maintaining its consistent number one rank from the previous months with sales of 1719 units. Slumber - CBD/THC/CBN 10:10:5 Midnight Cherry Gummies 10-Pack (100mg CBD, 100mg THC, 50mg CBN) saw a significant rise in popularity, climbing from fourth place in September to second place in October, with notable sales of 1017 units. Energize - THC/THCv 2:1 Lemon Zest Gummies 10-Pack (100mg THC, 50mg THCv) held steady in third place, while Chill Out - CBD/THC 3:2 Blood Orange Gummies 10-Pack (150mg CBD, 100mg THC) dropped one spot to fourth. Focus - THC/CBG 10:2 Raspberry Mandarin Gummies 10-Pack (100mg THC, 20mg CBG) entered the top five rankings for the first time in October, securing the fifth position.
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.
