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Aug-2024
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Overview
Market Insights Snapshot
Sungaze has shown a consistent performance in the Beverage category in Washington. The brand maintained its 10th position in both May and June 2024, before slipping slightly to 11th place in July and August 2024. Despite this minor decline in ranking, Sungaze's sales figures reveal a positive trend. From May to June, sales increased from $36,817 to $39,155, and a significant jump to $48,036 was observed in July, indicating strong market demand. The slight dip to $47,963 in August still reflects robust performance, suggesting sustained consumer interest.
While Sungaze's performance in Washington is noteworthy, it is important to highlight that the brand did not make it to the top 30 in other states or provinces in the Beverage category during the same period. This absence from the top rankings in other regions could be seen as a potential area for growth or as a gap in market penetration. The brand's steady presence in Washington could serve as a model for expansion strategies in other markets, leveraging the insights gained from its success in this state.
Competitive Landscape
In the competitive landscape of the Washington cannabis beverage market, Sungaze has shown consistent performance but faces stiff competition from brands like Blaze Soda and Ratio. Over the past four months, Sungaze maintained its rank at 10th place in May and June 2024, before dropping to 11th place in July and August 2024. This slight decline in rank can be attributed to the strong performance of Ratio, which climbed from 13th place in June to 10th place by August, driven by a significant increase in sales. Meanwhile, Blaze Soda consistently held the 9th position, indicating a stable and robust market presence. The data suggests that while Sungaze has a solid foothold, it must innovate and possibly ramp up marketing efforts to regain and improve its ranking amidst the dynamic shifts in the competitive landscape.
Notable Products
In August 2024, Sungaze's top-performing product was the CBD:THC 2:1 Strawberry Citrus Seltzer 2-Pack (10mg CBD, 5mg THC), maintaining its first-place ranking with sales of 1763 units. The CBD:THC 2:1 Strawberry Citrus Seltzer 4-Pack (20mg CBD, 10mg THC) secured the second position, climbing from third place in May and June. The CBD:THC 2:1 Lemon Ginger Seltzer 2-Pack (10mg CBD, 5mg THC) held steady in third place, consistent with its performance in June and July. The CBD:THC 2:1 Lemon Ginger Seltzer 4-Pack (20mg CBD, 10mg THC) remained in fourth place, showing a gradual increase in sales over the months. Finally, the CBD/THC 2:1 Lime Agave Seltzer 2-Pack (10mg CBD, 5mg THC, 24oz) stayed in fifth place, despite a slight dip in sales from July to August.
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.
