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Nov-2024
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Overview
Market Insights Snapshot
Cormorant has shown a consistent presence in the Washington edibles market, maintaining a steady rank around the 10th and 11th positions from August to November 2024. Despite a slight dip in sales from August to October, the brand managed to recover some ground in November. This indicates a resilience in their market strategy, even as they face fluctuations in consumer demand. The ability to stay within the top 15 in such a competitive market is a testament to their product appeal and brand recognition.
However, it's important to note that Cormorant's visibility is limited to Washington in the edibles category, as they have not appeared in the top 30 brands in other states or categories. This could suggest either a strategic focus on a particular market or challenges in expanding their footprint beyond this area. The absence in other state rankings might highlight potential opportunities for growth or a need to reassess their market approach to enhance their national presence. This focused regional performance could be both a strength and a limitation, depending on their long-term business goals.
Competitive Landscape
In the competitive landscape of the edible cannabis market in Washington, Cormorant has experienced notable fluctuations in its rank and sales over the past few months. As of November 2024, Cormorant holds the 11th position, a slight decline from its 10th place in August and September, indicating a need for strategic adjustments to regain its previous standing. Despite this, Cormorant's sales have shown a positive trend, increasing from October to November, suggesting resilience amidst competition. In contrast, Marmas has improved its rank from 12th in August to 10th in November, showcasing a consistent upward trajectory in both rank and sales. Meanwhile, Smokiez Edibles and Mr. Moxey's have maintained stable ranks at 9th and 12th respectively, with Smokiez Edibles consistently outperforming Cormorant in sales. These dynamics highlight the competitive pressure on Cormorant to innovate and capture more market share to climb back up the ranks.
Notable Products
In November 2024, the top-performing product from Cormorant was Watermelon Sorbet (100mg THC, 4oz) in the Edible category, climbing to the number one rank with sales of 7,198 units. Strawberry Lemonade Sorbet Frozen (100mg THC, 4oz) maintained a strong performance, securing the second position. Mango Sorbert (100mg) showed a consistent rise, moving up to third place from fourth in October. Blueberry Sorbet (100mg THC, 4oz) dropped slightly to the fourth position after being ranked second in October. Mango Infused Sorbet (100mg THC, 4oz) re-entered the rankings at fifth place, having not ranked in October.
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.
