Lucid

Data Snapshot: Apr 04, 2024
Lucid Cannabis Brand Logo
<$50K

Mar-2024

Sales

Strong Growth

Trend

6-Month

4

Product Count

SKUs

Lucid

Overview

Lucid Green, a renowned cannabis brand, operates high-quality retail stores that cater to both medical and recreational users across Washington, Michigan, and Nevada. This award-winning company is deeply committed to educating its customers and providing comprehensive information about its cannabis products, helping consumers fully understand and appreciate the botanical nuances. In addition, Lucid strives to enhance supply chain efficiencies while offering exemplary brand marketing solutions for cannabis brands, retailers, and distributors across the industry.
Markets

Lucid Locations

Product Trends

Lucid Categories

Lucid Sales

Market Insights Snapshot

Lucid Historical Sales by Category

In the Topical category within Washington, Lucid has demonstrated remarkable consistency and growth. Maintaining a steady position at rank 4 from December 2023 through March 2024, Lucid has shown it is a strong contender in this category. This consistency is particularly noteworthy in the competitive cannabis market, where brands often fluctuate in ranking due to various factors such as marketing efforts, product launches, and consumer preferences. The sales figures for Lucid in this category have also seen a steady increase, starting from $19,353 in December 2023 and reaching $32,247 by March 2024. This upward trajectory in sales, coupled with the stable rank, suggests that Lucid has not only managed to retain its customer base but likely expanded it over these months.

Despite the provided data focusing solely on the Topical category in Washington, the performance of Lucid in this segment offers valuable insights into the brand's overall market strategy and consumer reception. The ability to maintain a top 5 ranking consistently over several months indicates that Lucid has effectively catered to its target demographic's needs and preferences within this category. However, without data from other states or categories, it's challenging to paint a complete picture of Lucid's performance across the broader market. This analysis hints at a strong regional presence in Washington, but for potential investors or competitors looking for a full spectrum analysis, it's crucial to consider how the brand performs in other categories and regions as well. The consistent rank and sales growth in Washington's Topical category is a positive sign, but the cannabis market's dynamic nature requires a broader lens to fully understand Lucid's market position and potential.

Mar-2024 Rank
Topical
4
Lucid

Competitive Landscape

In the competitive landscape of the topical cannabis category in Washington, Lucid has maintained a consistent position at rank 4 from December 2023 through March 2024, indicating stability in its market presence amidst fluctuating dynamics among competitors. Notably, Double Delicious has held the top position with a significant lead in sales, showing a steady increase and solidifying its dominance. Fairwinds remains a strong contender at rank 3, with sales figures that far exceed Lucid's, despite Lucid's sales growth over the observed period. An interesting development is seen with Green Revolution, which has made a notable jump from rank 16 in December 2023 to rank 6 by March 2024, demonstrating rapid growth and potential threat to Lucid's market share. Meanwhile, Honu has shown consistency in its rank, moving up to 5th place, closely trailing Lucid. This competitive analysis underscores the importance of monitoring both sales trends and rank changes, as Lucid faces challenges not only from top-tier competitors but also from fast-growing brands like Green Revolution.

Lucid market ranking for WA Topical

Lucid

Notable Products

In March 2024, Lucid's top-selling product was Indica Infusions (1000mg) from the Topical category, maintaining its number one rank from the previous two months with sales reaching 775 units. Following closely was Sativa Infusion (1000mg), also in the Topical category, which secured the second position consistently since January 2024, showcasing notable sales figures. The third and fourth ranks were held by Indica Infusions (500mg) and Sativa Infusion (500mg) respectively, both maintaining their positions without change from the previous months. Notably, all top products belong to the Topical category, indicating a strong consumer preference within this category for Lucid. The sales figures and rankings indicate a stable consumer demand for these topicals, with the 1000mg variants clearly leading in popularity.

Product Rank
Category
Dec-2023
Jan-2024
Feb-2024
Mar-2024
Indica Infusions (1000mg)
Topical
2
1
1
1
Sativa Infusion (1000mg)
Topical
1
2
2
2
Indica Infusions (500mg)
Topical
3
3
3
3
Sativa Infusion (500mg)
Topical
4
4
4
4
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