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Aug-2024
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Overview
Market Insights Snapshot
Lagunitas has shown a notable performance across various categories and states, with significant shifts observed in the Beverage category within California. In May 2024, Lagunitas held a strong position at rank 9, maintaining this rank through June. However, there was a decline in July, dropping to rank 10, and a more substantial drop in August, landing at rank 19. This downward trend suggests a potential loss of market share or increased competition within the Beverage category in California. The consistent presence in the top 10 during the earlier months indicates that Lagunitas was previously a strong contender in this market.
The sales figures for Lagunitas also reflect this trend, with a significant decrease from $210,435 in May to $36,129 in August. This decline in sales corresponds with the drop in rankings, highlighting a challenging period for the brand in California. The absence of Lagunitas from the top 30 brands in any other states or categories during these months indicates that the brand's influence is primarily concentrated in California's Beverage category. This focus might be a double-edged sword, providing a stronghold in one market while potentially limiting growth opportunities in others.
Competitive Landscape
In the competitive California cannabis beverage market, Lagunitas has experienced significant fluctuations in its rank and sales over the summer of 2024. Initially holding a strong position at 9th place in May and June, Lagunitas saw a decline to 10th in July and a dramatic drop to 19th in August. This downward trend contrasts with competitors like Kikoko, which improved its rank from 20th in June to 16th in August, and Kan+Ade, which consistently climbed from 21st in May to 17th by August. Meanwhile, Artet and Drink Loud have shown more stable, albeit lower, rankings, indicating a less volatile market presence. These shifts suggest that Lagunitas needs to reassess its market strategies to regain its competitive edge and stabilize its sales performance in this dynamic sector.
Notable Products
In August 2024, the top-performing product from Lagunitas was Hi-Fi Sessions - Hoppy Chill Sparkling Water (10mg THC, 12oz), maintaining its first-place ranking with sales of 1848 units. The second spot was secured by Hi-Fi Sessions - CBD/THC 1:1 Cloudberry Infused Sparkling Water (2mg CBD, 2mg THC, 12oz), which consistently held this position since June 2024. HiFi Sessions - Mango Sparkling Water (10mg) ranked third, dropping from its previous top position in May 2024. Hi-Fi Sessions - CBD/THC 1:1 Hoppy Balance Infused Sparkling Water (5mg CBD, 5mg THC, 12oz) remained steady at fourth place throughout the past four months. A new entrant, Hi-Fi Hops - Hoppy Reverb Sparkling Water (10mg THC, 12oz), debuted in fifth place in August 2024.
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.
