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Sep-2024
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Overview
Market Insights Snapshot
Tsunami Labs has shown a mixed performance across different categories and states, indicating varying levels of market penetration and consumer preference. In the Missouri edible category, the brand struggled to break into the top 30, with rankings of 49 and 51 in June and August 2024, respectively, and missing from the list in July and September. This suggests a challenge in gaining traction within the Missouri edibles market, potentially pointing to either strong competition or a need for strategic adjustments. Conversely, in the Nevada concentrates category, Tsunami Labs has demonstrated a positive trajectory, climbing from a rank of 12 in June to 7 by September, indicating a strengthening position and possibly increased consumer demand or effective market strategies.
In the flower category within Nevada, Tsunami Labs experienced fluctuations, with an initial rise from 61 in June to 32 in July, followed by a decline to 76 by September. This volatility may reflect challenges in maintaining consistent quality or supply chain issues, which are critical in the highly competitive flower market. The brand's performance highlights the importance of stability and consistency in product offerings to maintain consumer trust and market position. While the concentrates category shows promise, the edible and flower segments indicate areas for potential growth and improvement. Understanding these dynamics is crucial for Tsunami Labs to refine their strategies and capitalize on emerging opportunities.
Competitive Landscape
In the Nevada concentrates market, Tsunami Labs has shown a notable upward trend in its ranking over the past few months, moving from 12th place in June 2024 to 7th place by September 2024. This improvement in rank is accompanied by a significant increase in sales, indicating a strengthening market presence. In contrast, competitors such as Matrix NV have experienced fluctuating ranks, dropping from 8th to 12th before recovering to 9th, while City Trees has maintained a steady 5th place position. Meanwhile, Grassroots consistently holds a strong 3rd place, showcasing robust sales figures. The dynamic shifts in rankings and sales suggest that Tsunami Labs is effectively capturing market share, potentially at the expense of brands like Haze Cannabis Co., which saw a drop from 8th to 10th before climbing back to 8th place. This competitive landscape highlights Tsunami Labs' growing influence in the Nevada concentrates category.
Notable Products
In September 2024, Memory Loss Live Resin Badder (0.5g) emerged as the top-performing product for Tsunami Labs, climbing to the number one rank with impressive sales of 1956 units. Phatt Fruity Live Resin Badder (0.5g) secured the second position, making a notable debut in the rankings. Guava Gelato Live Resin Badder (0.5g) maintained a strong presence, moving up from fourth to third place with increasing sales momentum. In contrast, Guava Gelato (3.5g) experienced a significant drop from its consistent first-place ranking in previous months to fifth place in September. Face On Fire Live Resin (0.5g) entered the rankings at fourth position, demonstrating a strong market entry.
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.
