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Aug-2024
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Overview
Market Insights Snapshot
Hashables has shown a consistent performance in the Edible category within Massachusetts. Over the past four months, the brand has maintained its position within the top 15, fluctuating slightly but demonstrating a general upward trajectory. In May 2024, Hashables was ranked 13th, and despite a minor drop to 14th in June, it rebounded back to 13th in July and climbed to 12th in August. This steady improvement suggests a growing consumer preference for Hashables' products in the state, which is further supported by a significant increase in sales from $307,615 in May to $402,712 in August. Such positive movement in both ranking and sales indicates a strong market presence in Massachusetts.
However, the performance of Hashables across other states and categories reveals a more varied picture. Notably, the absence of ranking data for other states and categories implies that Hashables has not yet penetrated the top 30 brands elsewhere, which could be seen as a missed opportunity or a potential area for growth. This lack of presence outside Massachusetts suggests that while Hashables is gaining traction locally, there is still considerable room for expansion and market penetration in other regions. Understanding the strategies that have led to their success in Massachusetts could be key to replicating this performance in other states.
Competitive Landscape
In the Massachusetts Edible category, Hashables has shown a notable upward trend in rank and sales over the past few months. Starting at rank 13 in May 2024, Hashables experienced a slight dip to rank 14 in June 2024 but quickly rebounded to rank 12 by August 2024. This positive movement is reflected in their sales, which increased from $307,615 in May to $402,712 in August. In comparison, Mindy's Edibles maintained a steady rank of 11 but saw a decline in sales over the same period, indicating potential market share loss. Similarly, Good News dropped from rank 12 to 14, with sales decreasing from $400,107 to $333,294. On the other hand, Encore Edibles showed a consistent performance around rank 15 but saw a significant sales increase from $214,517 to $283,315, suggesting growing consumer interest. Lost Farm remained stable at rank 10 with slight fluctuations in sales. These dynamics indicate that Hashables is gaining traction and improving its market position relative to its competitors.
Notable Products
In August 2024, the top-performing product from Hashables was the Watermelon Jolt Solventless Hash Infused Gummies 20-Pack (100mg), maintaining its first-place ranking with notable sales of 4816 units. The Tropical Typhoon Solventless Gummies 20-Pack (100mg) held onto the second position, continuing its steady performance from previous months. Bangin' Berry Solventless Gummies 20-Pack (100mg) remained in third place, showing consistent sales figures. Electric Grape Gummies 20-Pack (100mg) secured the fourth spot, climbing up from its fifth-place ranking in May and June. Lastly, the Peachy Mango Solventless Gummies 20-Pack (100mg) stayed in fifth place, reflecting a stable trend in its category.
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.
