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Nov-2024
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Overview
Market Insights Snapshot
In the state of Arizona, VET CBD has consistently struggled to break into the top 30 brands for the Edible category. Despite a slight improvement in October 2024, where the brand moved up from a rank of 42 to 38, it still failed to make a significant impact by November, slipping back to rank 40. This suggests a competitive market environment where VET CBD is finding it challenging to establish a strong foothold. The fluctuating sales figures, with a peak in October followed by a decline in November, reinforce the notion of an inconsistent performance in this category.
Conversely, VET CBD has maintained a strong presence in the California Tincture & Sublingual category, consistently holding the 4th rank from August through November 2024. This stability highlights the brand's robust positioning and consumer preference within this category. Notably, there was a significant increase in sales in November, indicating a potential seasonal boost or effective marketing strategy. This consistent ranking and sales growth in California contrast sharply with the brand's performance in Arizona, underscoring the importance of market-specific strategies and consumer dynamics.
Competitive Landscape
In the California Tincture & Sublingual category, VET CBD has maintained a consistent rank of 4th place from August through November 2024, indicating a stable position in the market. Despite a steady rank, VET CBD faces strong competition from brands like Yummi Karma and Care By Design, which have consistently held higher ranks at 2nd and 3rd places, respectively. Notably, Yummi Karma has seen robust sales figures, significantly surpassing VET CBD's sales, although VET CBD's sales have shown a positive trend with an increase from September to November. Meanwhile, Mary's Medicinals remains a close competitor, maintaining the 5th rank but with fluctuating sales that have occasionally come close to VET CBD's. The competitive landscape suggests that while VET CBD holds a solid position, there is room for growth, particularly in closing the sales gap with higher-ranked competitors.
Notable Products
In November 2024, the top-performing product for VET CBD was the CBD/THC 20:1 Regular Strength Tincture (250mg CBD, 12.5mg THC, 60ml, 2oz) in the Tincture & Sublingual category, maintaining its position as the number one product with sales reaching 1434 units. The CBD/THC 20:1 Regular Strength Tincture (125mg CBD, 6.25mg THC, 1oz, 30ml) also held steady at the second rank, showing consistent performance over the months. The CBD/THC 10:1 Extra Strength Pet Tincture (250mg CBD, 25mg THC, 60ml, 2oz) maintained its third position, demonstrating a steady increase in sales figures. Notably, the CBD/THC 10:1 Extra Strength Tincture (500mg CBD, 50mg THC, 60ml, 2oz) improved its rank from fifth to fourth, indicating a positive sales trend. Conversely, the CBD/THC 20:1 Regular Strength Tincture (1000mg CBD, 50mg THC, 2oz, 60ml) saw a slight decline in rank from fourth to fifth, suggesting a need for strategic adjustments to regain its previous standing.
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.
