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Oct-2024
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Overview
Market Insights Snapshot
The cannabis brand tonic has demonstrated varied performance across different states and categories. In the Beverage category, tonic has shown resilience and growth in Arizona, climbing from a rank of 7 in August and September 2024 to 5 in October 2024. This upward movement suggests a positive reception and potential market expansion in the state. However, in Illinois, tonic experienced a slight dip, moving from a consistent rank of 3 from July to September 2024 to 4 in October 2024, indicating a potential challenge or increased competition in that market. It's noteworthy that tonic maintained a strong position in Michigan, consistently holding the rank of 2 throughout the observed months, showcasing its steady demand and established presence in the state.
The sales figures reflect some interesting trends for tonic across these states. For instance, in Arizona, while the brand's rank improved, there was a noticeable fluctuation in sales, with a dip in August and September followed by a recovery in October. This could imply strategic adjustments or seasonal variations affecting consumer purchasing behavior. In Illinois, despite the drop in rank, tonic's sales have been on a declining trend from July to October, which could suggest market saturation or the impact of competitive pricing. Meanwhile, Michigan's stability in both rank and sales points to a mature market presence, where tonic has likely secured a loyal customer base. These insights into state-specific performances can guide stakeholders in making informed decisions about market strategies and resource allocation.
Competitive Landscape
In the Illinois beverage category, tonic has experienced a notable shift in its competitive standing over the past few months. Initially holding a steady third place from July to September 2024, tonic saw a decline to fourth place in October. This drop in rank coincides with a consistent decrease in sales figures, suggesting a potential challenge in maintaining market share. Meanwhile, Uncle Arnie's has maintained a stronghold on the second position with increasing sales, and CQ (Cannabis Quencher) has advanced from fourth to third place, indicating a competitive pressure on tonic. Additionally, Keef Cola entered the top ranks in September and further improved its position by October, reflecting a dynamic and competitive market landscape that tonic must navigate to regain its previous standing.
Notable Products
In October 2024, the top-performing product from tonic was Raspberry Lemonade Tonic (100mg THC, 12oz), which climbed to the number one spot with sales of 6928 units. Mandarin Orange Tonic (100mg THC, 12oz), previously holding the top rank, slipped to second place. The CBD/THC 1:1 Citrus Lime Tonic (100mg CBD, 100mg THC, 12oz) improved its ranking to third, maintaining a steady sales performance. Meanwhile, the CBD/THC 1:1 Tropical Punch Tonic (100mg CBD, 100mg THC, 12oz) dropped from second to fourth place. Lastly, Mango Pineapple Seltzer (100mg THC, 12oz) remained stable in fifth place, despite a decline in sales figures.
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.
