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Sep-2024
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Overview
Market Insights Snapshot
Lucid has maintained a consistent performance in the Topical category within the state of Washington, holding a steady 5th place ranking from June through September 2024. This stability suggests a strong foothold in the market, with sales showing a slight fluctuation over these months. Despite a small dip from July to September, the brand's ability to retain its ranking indicates a loyal customer base and effective market strategy in this category. The consistent top 5 ranking in such a competitive market highlights Lucid's robust presence in Washington's topical cannabis sector.
However, the absence of Lucid in the top 30 rankings for other categories or states during the same period suggests areas for potential growth or challenges the brand may be facing outside of Washington's topical market. This lack of presence in additional categories or states could be seen as a limitation in their market reach or product diversification strategy. For brands like Lucid, expanding their footprint beyond a single category or state might be a strategic opportunity to explore, especially if they aim to increase their overall market share and brand recognition in the broader cannabis industry.
Competitive Landscape
In the Washington topical cannabis market, Lucid consistently held the 5th rank from June to September 2024, indicating a stable position amidst a competitive landscape. Despite maintaining its rank, Lucid's sales showed a slight fluctuation, peaking in July before declining by September. This stability in rank suggests that while Lucid is a reliable choice for consumers, it faces strong competition from brands like Fairwinds and Agro Couture, which consistently ranked higher. Fairwinds maintained the 4th position, even climbing to 3rd in August, while Agro Couture fluctuated between 3rd and 4th, showcasing their strong market presence. Meanwhile, Hazy Daze and Dank Czar did not appear in the top 20 in June, with Hazy Daze entering at 6th in July and maintaining that position through August, indicating a potential emerging competitor. Lucid's consistent ranking suggests a loyal customer base, but the brand may need to innovate or adjust strategies to climb higher and increase sales in this competitive market.
Notable Products
In September 2024, Indica Infusions 1000mg maintained its top position in the Topical category for Lucid, with sales reaching 668 units, showing a slight decrease from August. Sativa Infusion 1000mg also held steady at the number two spot in the same category with consistent sales figures. New to the rankings, Apples & Bananas 14g emerged in third place, indicating a strong entry in the Flower category. Sativa Infusion 500mg dropped to fourth place from its previous third position in August, while Indica Infusions 500mg slipped to fifth place, continuing its downward trend over the months. The data highlights a stable performance for the top two products, while the lower-ranked items have seen more fluctuation in their standings.
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.
