Market Insights Snapshot
In the beverage category, Washington has seen a steady presence from the cannabis brand Sungaze. The brand maintained a consistent ranking at 12th place for both August and September 2023. However, there was a slight drop in October and November, with the brand falling to the 14th rank. This indicates a slight decrease in the brand's market position within the state's beverage category. It's interesting to note that this shift in ranking coincides with a downward trend in sales during these months, but we won't dive into the exact figures here.
Despite the slight dip in rankings, Sungaze's consistent presence in the top 20 brands in the beverage category in Washington over these four months is commendable. It's worth noting that not being in the top 20 indicates a lower market share, but Sungaze has managed to hold its ground. While there has been a decline in sales and ranking, the brand has managed to stay within the top 15, indicating a strong customer base and steady demand for their products in the market. This performance demonstrates the brand's resilience and potential for growth in the competitive cannabis beverage market.
In the Beverage category within the Washington state market, Sungaze has been experiencing a slight downward trend in rank from August to November 2023, moving from 12th to 14th place. This indicates a decrease in sales, as it is being outperformed by competitors such as Fractal Infused and Sinners & Saints, who have maintained their positions in the top 10. However, Sungaze has managed to stay ahead of Loaded Soda and Passion Flower Cannabis, who have also seen a decrease in rank over the same period. It's worth noting that the absence of a rank for any month signifies that the brand was not among the top 20 in the category for that month.
In November 2023, the top-performing product from Sungaze was the CBD:THC 2:1 Strawberry Citrus Seltzer 2-Pack with sales reaching up to 827 units. This product has consistently held the top rank since August 2023. The second best performer was the CBD:THC 2:1 Lemon Ginger Seltzer 2-Pack, which climbed back to its previous position from third place in September. Interestingly, the CBD:THC 2:1 Strawberry Citrus Seltzer 4-Pack made a significant jump from being unranked in August to third place in November. However, the CBD:THC 2:1 Lime Agave Seltzer 2-Pack slipped from second to fourth place over the same period.