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Sep-2024
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Overview
Market Insights Snapshot
Honu has shown a consistent presence in the Washington edible market, maintaining a spot within the top 20 brands from June to September 2024. This stability underscores a strong foothold in the state, particularly given the competitive nature of the cannabis industry. Notably, Honu's ranking peaked in July 2024 at 13th place, indicating a positive reception during that period, which could be attributed to successful marketing strategies or product launches. However, the brand experienced a slight dip back to 16th place by September, suggesting potential challenges or increased competition that may have affected its market position.
Despite fluctuations in ranking, Honu's sales figures in Washington reveal a robust performance, with a notable increase from June to August 2024, before experiencing a slight decline in September. This trend suggests that while the brand is capable of capturing consumer interest and driving sales, sustaining that momentum might require strategic adjustments. The absence of Honu from the top 30 brands in other states and categories could indicate either a concentrated focus on the Washington market or challenges in expanding its footprint beyond this region. This presents both an opportunity for growth and a potential risk if the brand does not diversify its market presence.
Competitive Landscape
In the competitive landscape of the Edible category in Washington, Honu has shown a dynamic performance over the past few months, experiencing fluctuations in its rank from 16th in June 2024 to 13th in July, then slipping slightly to 14th in August, and back to 16th in September. This indicates a competitive tussle with brands like Verdelux and The 4.20Bar, which have maintained relatively stable positions. Notably, Verdelux and The 4.20Bar have consistently ranked higher than Honu, although Honu's sales in August were higher than Verdelux's, suggesting potential for upward mobility. Meanwhile, brands like Mari's and Cosmic Candy have remained at the lower end of the ranking spectrum, indicating less immediate threat to Honu's position. This competitive environment underscores the need for strategic marketing and product differentiation for Honu to maintain and improve its standing in the Washington Edible market.
Notable Products
In September 2024, the top-performing product for Honu was the Sativa Peanut Butter Cups 10-Pack (100mg), maintaining its first-place ranking consistently since June, with a notable sales figure of 1593 units. The Gimme Sa'More! Treats 10-Pack (100mg) held steady at the second position, showing strong sales performance over the months. Indica Peanut Butter Cups Chocolate 10-Pack (100mg) remained third, demonstrating consistent consumer demand. The Indica Peanut Butter Chocolate Cup 10-Pack (100mg) made a significant leap to fourth place, indicating a surge in popularity compared to previous months. Finally, Milk Chocolate Turtles 10-Pack (100mg) rounded out the top five, although its sales slightly decreased compared to August.
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.
