Market Insights Snapshot
In the Concentrates category, Washington's Hitz Cannabis has shown a promising upward trend. Despite not being in the top 20 brands in July, August, and September 2023, the brand has managed to climb up the ranks, reaching the 18th spot in October. This improvement in rank is reflected in their sales figures, which show a noticeable increase in October, indicating a positive reception and growing market presence in the state.
However, when we look at the Vapor Pens category, Hitz Cannabis's performance in Washington is less consistent. The brand did not rank in the top 20 in any of the months from July to October 2023. Despite this, there has been a steady improvement in their ranking, moving from the 56th spot in July to 46th in October. The sales figures for this period also show a slight upward trend, suggesting that while Hitz Cannabis may not yet be a top player in this category, it is slowly gaining traction.
In the Concentrates category within the Washington state cannabis market, Hitz Cannabis has been experiencing a fluctuating competitive landscape. In July 2023, Hitz Cannabis was ranked 23rd, but managed to improve its position to 21st in August 2023. However, in September 2023, it slipped back to 23rd before making a significant leap to 18th in October 2023. This indicates a positive upward trend in its market position. In comparison, Sitka has shown a consistent improvement in rank over the same period, while Agro Couture and Green Envy have fluctuated in their positions. Interestingly, Fugu Farms, which started in a higher rank than Hitz Cannabis, has seen a steady decline in rank over these months. In terms of sales, while specific numbers are not disclosed, Hitz Cannabis has seen a general upward trend, which aligns with its improved ranking in October.
In October 2023, the top-performing products from Hitz Cannabis were predominantly from the Concentrates category. The Blueberry Frost RSO Tanker (1g) secured the top spot with sales of 1544 units, maintaining its strong performance from previous months. The second and third positions were also held by Concentrates, namely the Bruce Banner RSO Syringe (1g) and Blackberry Kush RSO (1g) respectively, indicating a consistent customer preference for this category. The GG#4 Distillate Cartridge (1g) from the Vapor Pens category ranked fourth, showing a slight drop from its second position in September 2023. The Sour Diesel Distillate Cartridge (1g), another Vapor Pen product, made its first appearance in the top five this month.