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Aug-2024
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Overview
Market Insights Snapshot
Oleum Extracts (Oleum Labs) has shown a notable performance in the Concentrates category in Washington. The brand maintained a top 10 position from May to August 2024, although there was a slight decline from a rank of 3 in May to 6 in both July and August. This consistent presence in the top 10 indicates a strong foothold in the Concentrates market despite a gradual decrease in sales from $308,907 in May to $187,814 in August. Such trends suggest a need for strategic adjustments to maintain or improve their ranking and sales figures.
In contrast, Oleum Extracts (Oleum Labs) faced challenges in the Pre-Roll and Vapor Pens categories in Washington. The brand did not rank within the top 30 for Pre-Rolls in August 2024, indicating a significant drop from its 54th position in May. Similarly, the Vapor Pens category saw a decline from a rank of 33 in May to 75 in August. This downward trend in both categories signifies potential areas for improvement and suggests that the brand may need to re-evaluate its product strategy and market approach to regain competitive standing.
Competitive Landscape
In the Washington concentrates market, Oleum Extracts (Oleum Labs) has experienced a notable decline in rank and sales over the past few months. Starting from a strong position at rank 3 in May 2024, the brand has slipped to rank 6 by July and August 2024. This downward trend is significant when compared to competitors such as Tasty Terps, which improved from rank 7 in May to rank 4 in July and August, indicating a rise in consumer preference. Similarly, Skagit Organics has shown consistent improvement, moving from rank 13 in May to rank 7 by July and August. Another competitor, Regulator, has maintained a stable position at rank 4 and 5 during the same period. The consistent performance of these competitors suggests a shift in market dynamics that Oleum Extracts (Oleum Labs) needs to address to regain its earlier market position.
Notable Products
In August 2024, the top-performing product from Oleum Extracts (Oleum Labs) was Wedding Cake Honey Crystal (1g), which rose to the number one spot with notable sales of 1070 units. Blue Dream Honey Crystal (1g) maintained its strong performance, ranking second, consistent with its position in May 2024. Blueberry Cookies Honey Crystal (1g) entered the rankings at third place, showing significant traction. The Sugar Cone - Super Boof Infused Pre-Roll 2-Pack (1g) dropped to fourth place from its previous top position in May 2024. Lastly, the Gelonade Live Resin Cartridge (1g) debuted in the rankings at fifth place, indicating a growing interest in vapor pens.
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.
