Market Insights Snapshot
In the Washington market, Lifted Cannabis Co has shown varied performance across different categories. The brand's strongest performance is seen in the Flower category, where it consistently ranks in the top 10, even improving its position from 6th to 4th between August and November 2023. This upward trend indicates a solid presence and growing popularity in this category. However, it's not all rosy for Lifted Cannabis Co. The brand's Concentrates and Vapor Pens categories are struggling to stay in the top 20, with rankings consistently above 20. This suggests a need for the company to revamp its strategies in these sectors.
On a brighter note, Lifted Cannabis Co's performance in the Pre-Roll category shows a promising upward trend. Despite a slight dip in October 2023, the brand rebounded impressively to the 6th position in November, up from 11th in August. This shows the brand's resilience and potential for growth in this category. However, the brand's overall sales seem to be fluctuating across the months in all categories, indicating a possible inconsistency in market demand or supply chain. For instance, while sales in the Flower category showed an upward trend, the Concentrates category saw a significant drop in sales from August to November 2023. This highlights the need for a more in-depth analysis to understand the factors behind these trends.
In the Flower category for the state of Washington, Lifted Cannabis Co has shown a consistent upward trend in rank from August to November 2023, moving from 6th to 4th place. This improvement in rank indicates a positive growth in sales, outperforming some of its competitors. For instance, WA Grower which dropped from 4th to 6th place, and Redbird (formerly The Virginia Company) fluctuating between 4th and 5th place. However, Lifted Cannabis Co still trails behind the consistently high-performing brands such as Artizen Cannabis and Legends, which have maintained their 2nd and 3rd ranks respectively over the same period. This analysis indicates a competitive but promising market for Lifted Cannabis Co, with potential for further growth and upward movement in the rankings.
In November 2023, the top-performing product from Lifted Cannabis Co. was Wedding Cake (3.5g) from the Flower category, maintaining its top rank from previous months. It recorded the highest sales figure of 8971 units. The second-best performer was Sugar Stix- Wedding Cake Infused Pre-Roll (1g) from the Pre-Roll category, also consistent in its position from August. The third spot was claimed by Sugar Stix - White Truffle Infused Pre-Roll (1g), improving its rank from the previous month. New entrants in the top 5 were Signature Line - Wedding Cake Pre-Roll (1g) and Sugar Stix - Boysenberry Creme Brulee Infused Pre-Roll (1g), ranking fourth and fifth respectively.