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Aug-2024
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Overview
Market Insights Snapshot
Verdelux has shown a consistent performance in the Edible category in Washington over the past few months. Ranking at 11th place in May 2024, the brand experienced a slight decline, moving to 13th in June, 14th in July, and 15th in August. Despite the drop in rankings, Verdelux's sales figures tell a different story. The brand saw an upward trend in sales, starting at $206,897 in May and increasing to $257,371 by August. This indicates a growing consumer demand for their products, even though competitive pressures have affected their ranking.
Interestingly, Verdelux did not appear in the top 30 brands in any other states or categories during this period. This absence can be viewed in two ways. On the one hand, it highlights the brand's strong foothold in Washington's Edible market, suggesting a focused and possibly successful regional strategy. On the other hand, it also raises questions about their market penetration and brand recognition in other states and categories. This could be an area for potential growth or a sign of strategic concentration on their home turf.
Competitive Landscape
In the Washington edible cannabis market, Verdelux has experienced a gradual decline in rank from May to August 2024, moving from 11th to 15th position. Despite this drop, Verdelux's sales have shown a positive trend, increasing from $206,897 in May to $257,371 in August. This indicates that while their market share might be slipping, their overall sales are growing, suggesting a loyal customer base or effective marketing strategies. In contrast, Honu has seen a more stable ranking, fluctuating between 13th and 15th place, but with a significant sales increase, surpassing Verdelux in August with $268,391. Similarly, Marmas has improved its rank from 16th to 14th, with sales jumping to $262,792 in August. Meanwhile, The 4.20Bar and Mari's have maintained lower ranks, with The 4.20Bar dropping to 16th and Mari's consistently at 17th, though both have seen sales growth. This competitive landscape suggests that while Verdelux is facing stiff competition, particularly from Honu and Marmas, there is still a strong market presence and potential for strategic adjustments to regain higher rankings.
Notable Products
In August 2024, the top-performing product for Verdelux was Lush - CBD/THC 1:1 Strawberry Chews 10-Pack (100mg CBD, 100mg THC), maintaining its consistent first-place ranking with sales of 1235 units. Following closely, Lush- CBD/THC 1:1 Ginger Peach Chews 10-Pack (100mg CBD, 100mg THC) held the second spot, showing a notable increase in sales to 1173 units. Lush Hawaiian Mix (100mg) remained steady in third place, while Lush - CBG/THC 1:1 Sour Watermelon Fruit Chews 10-Pack (100mg CBG, 100mg THC) continued to secure the fourth position. A new entrant, Lush - Hawaiian Mix Chews (100mg), maintained the fifth rank since its introduction in July 2024. Overall, the rankings have shown stability, with incremental increases in sales figures across the board.
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.
