Market Insights Snapshot
Looking at the data, it's clear that Hatshe has been performing quite well in the Topical category within the state of Oregon. The brand has consistently ranked within the top 20 brands in the state over the past four months, indicating a strong presence in the market. In August 2023, Hatshe held the 10th position, the same as in July 2023. This consistency could be indicative of a loyal customer base. However, it's noteworthy that Hatshe saw a significant improvement in its ranking from June to July 2023, jumping from 15th to 10th place. This shift suggests that there may have been a successful marketing push or product launch during this period.
Interestingly, the sales data for Hatshe in Oregon shows a marked increase in August 2023 compared to the previous months. Without revealing too much, it's safe to say that the brand's sales have more than doubled since June 2023. This growth in sales aligns with the improvement in Hatshe's category ranking during the same period. While the brand's ranking remained the same from July to August, the increase in sales suggests that the competition within the top 10 brands in the Topical category is quite fierce. It's a good sign for Hatshe, however, as it shows that they are able to hold their ground amidst this competition.
In the Topical category within Oregon, Hatshe has seen a steady climb in rank from 15th in June 2023 to 10th in both July and August 2023, indicating a positive trend in market position. However, Hatshe's competitors show mixed trends. For instance, Leif Goods has maintained a consistent rank of 12th in July and August, but was ranked higher at 10th in June. Sacred Herb Medicinals has seen a slight drop in rank from 6th in July to 8th in August, while Physic Cannabis Therapy and Luminous Botanicals have shown relatively stable ranks. Despite Hatshe's improved rank, it's worth noting that their sales are still lower than these competitors, indicating room for growth and increased market share.
In August 2023, Hatshe's top-performing product was the CBD Tangerine Relief Gel (750mg CBD, 4oz) from the Topical category, selling 29 units. This product rose to the top rank, up from the second position in the previous three months. The CBD Sandalwood Healing Cream (500mg CBD, 2oz), also in the Topical category, was the second-best seller with 12 units sold. Notably, this product had held the top spot from May to July 2023. These shifts indicate a change in consumer preference within Hatshe's Topical product line during August.