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Aug-2024
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Overview
Market Insights Snapshot
Cormorant has shown a consistent performance in the Washington market across both the Beverage and Edible categories. In the Beverage category, Cormorant has maintained a steady rank of 19th place from May through August 2024, indicating a stable presence in this segment despite minor fluctuations in sales figures. The sales trend demonstrates a slight dip in June followed by a recovery in July and August, suggesting resilience in consumer demand. However, the brand's consistent ranking within the top 20 highlights its ability to maintain a foothold in a competitive market.
In the Edible category, Cormorant has performed notably well, consistently holding the 10th position from May to August 2024. This indicates a strong and stable demand for their edible products in Washington. The sales figures for this category show a significant upward trend, peaking in July before experiencing a slight decline in August. This upward trajectory followed by a minor dip suggests that while the brand is popular, there may be seasonal or market-specific factors influencing sales. Overall, Cormorant's performance in the Edible category is a testament to its strong market presence and consumer preference.
Competitive Landscape
In the Washington Edible category, Cormorant has maintained a consistent rank of 10th place from May to August 2024. This stability in ranking is notable given the competitive landscape. For instance, Swifts and Smokiez Edibles have both held steady at 9th and 8th places respectively, with Smokiez Edibles showing a strong upward trend in sales. Meanwhile, Mr. Moxey's and Constellation Cannabis have improved their rankings from 13th to 11th and 14th to 12th respectively, indicating a competitive push from lower-ranked brands. Despite these shifts, Cormorant's sales have shown a mixed trend, peaking in July but experiencing a slight dip in August. This suggests that while Cormorant is holding its ground in terms of rank, there is room for growth in sales to compete more aggressively with higher-ranked brands.
Notable Products
In August 2024, the top-performing product from Cormorant was Strawberry Lemonade Sorbet Frozen (100mg THC, 4oz), which climbed to the number one spot with sales of $12,249. Watermelon Sorbet (100mg THC, 4oz), previously the top product, dropped to second place. Tangerine Sorbet Frozen (100mg THC, 4oz) made a notable entry into the rankings at third place after being unranked in June and July. The Mango Sorbert (100mg) maintained its consistent performance, holding steady at the fourth position. Blueberry Sorbet (100mg THC, 4oz) saw a decline, falling from third to fifth place.
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.
