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Oct-2024
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Overview
Market Insights Snapshot
Cormorant's performance in the cannabis market shows interesting trends across different categories and states. In the state of Washington, Cormorant's presence in the Beverage category has seen a slight improvement, moving from the 19th rank in July to the 17th rank in August. However, it's worth noting that the brand did not maintain a top 30 position in September and October, which might suggest challenges in sustaining their market presence in this category. Meanwhile, in the Edible category, Cormorant has consistently held a strong position, ranking 10th from July through September, with a slight drop to 11th in October. This consistency indicates a stable performance and a solid consumer base in the Edible market.
Examining sales trends, Cormorant's Edible sales in Washington have shown a gradual decline from July to October, which might suggest increased competition or shifting consumer preferences. Despite this, maintaining a top 11 position in a competitive market is a notable achievement. The Beverage category, on the other hand, presents a more challenging scenario, with the brand not appearing in the top 30 beyond August. This could imply either a strategic shift away from this category or a need to reassess their market strategies to regain visibility. Overall, while there are areas of concern, Cormorant's stronghold in the Edible category in Washington highlights their potential for continued success if they can address the challenges in other segments.
Competitive Landscape
In the Washington edible market, Cormorant has experienced a slight decline in its competitive positioning over the past few months, moving from 10th place in July 2024 to 11th place by October 2024. This shift is notable considering the consistent performance of competitors like Mr. Moxey's, which maintained a stable position around the 11th and 12th ranks, and Smokiez Edibles, which consistently held a higher rank at 8th and 9th. Meanwhile, Marmas has shown a positive trajectory, climbing from 14th to 10th place, potentially impacting Cormorant's sales as Marmas' sales figures increased significantly. Despite these challenges, Cormorant's sales remain competitive, although they have seen a downward trend from July to October. Brands like Constellation Cannabis have remained steady at 12th and 13th ranks, indicating a stable market presence that Cormorant must navigate as it strategizes to regain its footing in the rankings.
Notable Products
In October 2024, the top-performing product for Cormorant was Tangerine Sorbet Frozen (100mg THC, 4oz) in the Edible category, climbing from fourth place in September to first, with sales reaching 7,838. Blueberry Sorbet (100mg THC, 4oz) also showed a significant improvement, moving up from fifth to second place. Mango Sorbert (100mg) maintained a strong position, securing third place after being second in September. Strawberry Lemonade Sorbet Frozen (100mg THC, 4oz) saw a decline, dropping from first place in September to fourth in October. Watermelon Sorbet (100mg THC, 4oz) completed the top five, having previously been unranked in September.
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.
