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Dec-2024
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Overview
Market Insights Snapshot
In the latter part of 2024, Hashtag has shown varied performance across different categories and states. In the state of California, the brand's presence in the Concentrates category has been inconsistent. Starting at rank 59 in September, Hashtag improved to rank 50 in October but then slid back to 54 in November and further down to 74 by December. This decline in rank suggests challenges in maintaining a competitive edge in California's competitive market for concentrates. Despite this, the brand saw a noticeable increase in sales from September to October, indicating a potential for recovery if they can address the factors influencing their ranking drop.
Meanwhile, in New York, Hashtag's performance across categories shows a mixed bag. In the Flower category, the brand's ranking fell from 28 in September to 97 by December, dropping out of the top 30 altogether in the last month of the year. This significant decline highlights potential issues in market strategy or competition. Conversely, Hashtag's Vapor Pens category in New York exhibited resilience, maintaining a position within the top 30, with a notable peak at rank 21 in November. The sales figures for Vapor Pens reflect a substantial increase in November, suggesting strong consumer demand during that period. This divergence in performance across categories underscores the importance of category-specific strategies for Hashtag to enhance its overall market position.
Competitive Landscape
In the competitive landscape of Vapor Pens in New York, Hashtag has shown a dynamic performance over the last few months. Notably, Hashtag's rank fluctuated significantly, starting at 25th in September 2024, dropping to 37th in October, then rebounding impressively to 21st in November before settling at 25th in December. This volatility indicates a responsive market strategy, particularly when compared to competitors like CRU Cannabis, which maintained a more stable position, consistently ranking around the 20th spot. Meanwhile, Jetty Extracts showed a steady climb, improving their rank from 35th in September to 27th by December, suggesting a gradual increase in market presence. Hepworth also demonstrated strong performance, although with slight declines, maintaining a position within the top 23 by December. These shifts highlight Hashtag's potential for rapid growth, as seen in November, but also underscore the competitive pressure from brands like Waahoo, which, despite lower sales, managed to improve their rank from 28th to 24th in October. Overall, Hashtag's ability to climb back to a higher rank in November suggests effective strategic adjustments, but the brand must continue to innovate to maintain and improve its market position amidst fierce competition.
Notable Products
In December 2024, the top-performing product from Hashtag was Wedding Cake Distillate Disposable (1g) in the Vapor Pens category, reclaiming its top spot with impressive sales of 2,596 units. RS-11 Distillate Disposable (1g) rose to the second position with significant sales growth from the previous month. Permanent Marker Distillate Disposable (1g) dropped to third place, despite having been the top product in November. Strawberry Diesel Distillate Disposable (1g) maintained its fourth-place ranking, although its sales figures decreased compared to November. Super Jack Distillate Disposable (1g) experienced a notable drop, falling to fifth place from its consistent second-place ranking in previous months.
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.
