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Jun-2024
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Overview
Market Insights Snapshot
Binx Buds has shown notable progress in the Washington market, particularly within the Concentrates category. From March to June 2024, the brand has climbed significantly from a rank of 78th to 45th, indicating a strong upward trend. This improvement is further emphasized by the sales figures, which increased from $26,402 in March to $32,505 in June. However, this positive movement contrasts with their performance in the Flower category, where they fluctuated between ranks 20 and 31, showing some inconsistency despite maintaining a presence in the top 30 throughout the period.
In the Flower category, Binx Buds experienced a peak in May 2024, reaching the 20th position, yet fell back to 28th in June. This suggests that while they have the potential to compete strongly in this category, sustaining high ranks remains a challenge. Notably, their sales in the Flower category saw a significant rise in May, hitting $320,729, but dropped again in June to $259,525. This volatility could indicate external factors affecting their market position or internal adjustments within the company. It is essential to monitor these trends closely to understand whether Binx Buds can stabilize and improve their rankings consistently.
Competitive Landscape
In the Washington state Flower category, Binx Buds has experienced notable fluctuations in its ranking and sales over the past few months. In March 2024, Binx Buds was ranked 31st, but saw an improvement in April, climbing to 28th, and further to 20th in May. However, by June, it had dropped back to 28th. This volatility indicates a competitive market where brands like Dama, Gabriel, and Cowlitz Gold also vie for top positions. For instance, Gabriel showed a more consistent performance, maintaining a rank within the top 30 throughout the same period. Similarly, Cowlitz Gold remained relatively stable, though it too experienced a slight dip in June. The competitive landscape suggests that while Binx Buds has the potential for high peaks, sustaining a top position requires continuous strategic efforts to outperform these established competitors.
Notable Products
In June 2024, the top-performing product from Binx Buds was Granddaddy Purple (7g) in the Flower category, achieving the highest sales at $1,147. Tropicana Cookies (28g), also in the Flower category, secured the second position. Northern Lights (28g) maintained its third position from March 2024, showing consistent performance. Sunberry BHO Wax (1g) in the Concentrates category ranked fourth, slipping from its third position in the previous months. Wedding Cake (28g) remained steady at the fifth position, similar to its ranking in April 2024.
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.
