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Aug-2024
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Overview
Market Insights Snapshot
Hot Shotz has shown consistent performance in the Beverage category across Washington state, maintaining a steady 8th position from May to August 2024. This stability suggests a strong foothold in the market, with sales figures climbing from $90,788 in May to $105,570 by August. The brand's ability to sustain its ranking while increasing sales indicates a growing consumer base and effective market strategies. However, being outside the top 7 could imply potential areas for improvement or stronger competition in the higher ranks.
In other states, Hot Shotz did not make it into the top 30 brands for the Beverage category, which could be seen as a significant gap in their market penetration. This absence highlights the brand's need to focus on expanding its presence beyond Washington if it aims to achieve broader market recognition and growth. The lack of ranking in additional states might also suggest regional preferences or the strength of local competitors, pointing to the importance of tailored marketing and distribution strategies in different regions.
Competitive Landscape
In the Washington beverage category, Hot Shotz has maintained a consistent rank of 8th place from May to August 2024. This stability in ranking is notable, especially when compared to competitors like Agro Couture, which has consistently held the 6th position, and Constellation Cannabis, which has consistently ranked 7th. Despite these competitors maintaining higher ranks, Hot Shotz has shown a positive trend in sales, increasing from May to August. In contrast, Blaze Soda has remained in the 9th position but with significantly lower sales figures. Another competitor, Ratio, fluctuated in rank, dropping out of the top 10 in June but recovering to 10th place by August. This competitive landscape indicates that while Hot Shotz is not leading the market, its steady rank and upward sales trend suggest a strong and growing presence in the Washington beverage category.
Notable Products
In August 2024, the top-performing product from Hot Shotz was the CBD/THC 1:1 Watermelon Energy Drink (100mg CBD, 100mg THC, 2oz), maintaining its first-place ranking from July with sales reaching 3,074 units. The Blue Raspberry Energy Drink (100mg THC, 2oz) held steady at the second spot, though its sales saw a slight decrease to 2,751 units. The Green Apple Energy Drink (100mg THC, 2oz) remained consistently in third place, showing a notable sales increase to 1,945 units. The Cherry Energy Drink (100mg THC, 2oz) also held its fourth position with a modest rise in sales to 1,595 units. The Fruit Punch Energy Drink (100mg THC, 2oz) dropped one spot to fifth place, indicating a decline in sales compared to the previous month.
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.
