Market Insights Snapshot
Phat Panda has been a dominant player in the Washington cannabis market, particularly in the Flower and Pre-Roll categories where it has consistently held the number one spot from July to October 2023. This is a powerful position to hold, indicating a strong consumer preference for their products in these categories. However, in the Edible category, the brand seems to be struggling a bit, maintaining a rank in the mid-40s over the same period. Interestingly, there's a noticeable absence in the Concentrates category ranking, which could signify an area for potential growth or a strategic decision to focus on their top-performing categories.
On the other hand, in Massachusetts, Phat Panda's performance is not as strong. The brand was not among the top 20 in the Vapor Pens category for the period observed, and their ranking in the Pre-Roll category dropped from 96th to 100th from August to September 2023. The Flower category presents a brighter spot, with the brand ranking 73rd in July, although subsequent months' rankings are not available. It's worth noting that despite the lower rankings, the brand managed to pull in significant sales in July, particularly in the Flower category with $94,388 in sales. This suggests that while the brand may not be a top player in Massachusetts, it still has a considerable presence in the market.
In the Flower category within Washington state, Phat Panda consistently holds the top rank, outperforming competitors such as Artizen Cannabis and Legends. While Artizen Cannabis maintains a steady second position, Legends shows a notable upward trend, moving from the sixth rank in July 2023 to the third by August 2023, a position it sustains in the following months. Despite this shift, Phat Panda's sales remain significantly higher than both Artizen Cannabis and Legends. However, the consistent rise in Legends' sales indicates a growing competition that Phat Panda should be aware of. It's worth noting that a missing rank for any month indicates that the brand was not in the top 20 for the Flower category in Washington state during that month.
In October 2023, the top-performing product from Phat Panda was the Golden Pineapple Pre-Roll 2-Pack (1g), with sales reaching 40,186 units. This product maintained its number one rank from previous months. The OG Chem Pre-Roll 2-Pack (1g) came in second, selling 34,466 units. Interestingly, the Granddaddy Purple Pre-Roll (1g) re-entered the top ranks at third place, after not being in the top ranks in August and September. The Golden Pineapple (3.5g) and the newly ranked Platinum - Kush Mintz Pre-Roll (1g) rounded out the top five products for the month.