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Jun-2024
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Overview
Market Insights Snapshot
Hi-Burst has demonstrated varied performance across different states and categories over recent months. In Massachusetts, Hi-Burst has consistently ranked outside the top 30 brands in the Edible category from March to June 2024. This indicates a struggle to capture significant market share in this state, with a slight improvement in their ranking from 58th in March to 57th in June. However, the sales trend for Hi-Burst in Massachusetts shows some volatility, with a noticeable dip in May followed by a recovery in June. This suggests that while the brand is not a major player in this market, there are opportunities for growth if they can stabilize and increase their sales figures.
In contrast, Hi-Burst has shown more promising results in Washington. The brand consistently maintained a rank within the top 30 in the Edible category, with slight fluctuations between 25th and 27th place from March to June 2024. Notably, Hi-Burst improved its ranking to 24th in June, indicating a positive trend. The sales data supports this upward movement, with a significant increase from May to June, suggesting a growing consumer base and market presence in Washington. This performance highlights Hi-Burst's stronger position and potential for continued growth in the Washington market compared to Massachusetts.
Competitive Landscape
In the Washington Edible market, Hi-Burst has experienced notable fluctuations in rank and sales over the past few months. Starting at rank 25 in March 2024, Hi-Burst saw a dip to rank 27 in May before climbing back to rank 24 in June. This upward trend in June is a positive indicator, especially considering the brand's sales increased significantly from $31,086 in May to $43,190 in June. In comparison, Flav has maintained a relatively stable position, hovering around ranks 25-27, but with lower sales figures than Hi-Burst. Meanwhile, Sinners & Saints has shown a steady improvement in rank from 28 to 25, with sales increasing consistently, albeit still trailing behind Hi-Burst. June's Sweets & Savories and Koko Gemz have both outperformed Hi-Burst in terms of rank and sales, with Koko Gemz holding a strong position at rank 21 for the past four months. These insights suggest that while Hi-Burst is making gains, it faces stiff competition from both established and emerging brands in the Washington Edible market.
Notable Products
In June 2024, the top-performing product from Hi-Burst was the Sativa Sour Blue Raspberry Fruit Chews 10-Pack (100mg THC, 1.88oz), which rose to the first rank with notable sales of 1026 units. The Sativa Sour Raspberry Lemonade Fruit Chew 10-Pack (100mg) followed closely in second place, maintaining a strong performance from previous months. The Strawberry Fruit Chew 20-Pack (100mg) secured the third position, despite a significant drop in sales from earlier in the year. The Sour Blue Raspberry Fruit Chew 20-Pack (100mg) came in fourth, showing a consistent presence in the top five. Lastly, the Indica Sour Blue Raspberry Fruit Chew 10-Pack (100mg) ranked fifth, making a reappearance after not being ranked in May 2024.
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