Market Insights Snapshot
In the Washington market, Pagoda's performance has shown some interesting trends. In the flower category, the brand has consistently maintained its position within the top 20 brands for the months of August to November 2023. They started off at rank 14 in August, peaked at rank 10 in September, and ended at rank 11 in November. This consistent performance in the top 20 indicates a strong presence in the flower category. However, while the brand's ranking fluctuated slightly, sales numbers were relatively steady, indicating a stable demand for their products in this category.
On the other hand, Pagoda's performance in the pre-roll category in Washington tells a different story. The brand did not manage to break into the top 20 in any of the months from August to November 2023. Their ranking hovered around the 80s and 90s, peaking at 78 in November. While this may seem concerning, it's important to note that despite the lower rankings, Pagoda's sales in this category did not experience any drastic drops. This could potentially indicate a highly competitive market in the pre-roll category, where even brands outside the top 20 can maintain steady sales.
In the Flower category within the Washington state market, Pagoda has maintained a consistent presence within the top 20 brands over the period from August to November 2023. However, it has experienced a slight fluctuation in rank, peaking at 10th in September before dropping to 11th in November. In comparison, Agro Couture has shown a significant upward trend, moving from not being in the top 20 in August to ranking 9th in November. SKÖRD and Plaid Jacket have seen a decline in their ranks over the same period, while Hemp Kings has improved its position. In terms of sales, Pagoda has remained relatively stable, while Agro Couture has seen a significant increase, suggesting a growing threat to Pagoda's market position.
In November 2023, the top-performing product from Pagoda was the Bubba Fat Kief Oil Infused Pre-Roll (1g) in the Pre-Roll category, maintaining its top position from the previous month with sales of 1095 units. The second highest selling product was Outrageous Tangie (3.5g) from the Flower category. The Scream Queen Infused Pre-Roll (1g), also in the Pre-Roll category, ranked third. Interestingly, the Gelato Sundae Infused Pre-Roll (1g) improved its ranking from fifth in October to fourth in November. Lastly, the Ice Cream Cake (3.5g) from the Flower category took the fifth spot in the rankings.