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Oct-2024
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Overview
Market Insights Snapshot
Hashables has shown varying performance across different states and categories, with significant fluctuations in their rankings. In Massachusetts, the brand experienced a decline in the Edible category, moving from the 13th position in July 2024 to the 16th position by October 2024. This downward trend is reflected in their sales figures, which saw a decrease from $313,361 in July to $242,887 by October. Such movements indicate potential challenges in maintaining market share within this category in Massachusetts, suggesting a need for strategic adjustments to regain their previous standings.
Additionally, the absence of Hashables from the top 30 rankings in other states and categories highlights areas where the brand might not be as competitive or present. This lack of presence could be either a missed opportunity or an indication of strategic focus on select markets like Massachusetts. The data suggests that while Hashables has a foothold in Massachusetts, expanding their reach or improving performance in other regions and categories might be essential for broader market success. Analyzing these trends further could provide insights into the brand's overall strategy and potential areas for growth.
Competitive Landscape
In the Massachusetts edible cannabis market, Hashables has experienced notable fluctuations in its ranking and sales over the past few months. As of October 2024, Hashables ranked 16th, a drop from its 12th position in August. This decline in rank coincides with a decrease in sales from August to October. In contrast, Encore Edibles has shown a consistent upward trend, moving from 17th to 15th place, suggesting a steady increase in consumer preference. Meanwhile, Happy Valley has seen a significant drop from 7th in July to 18th in October, indicating a substantial decline in sales, which could be an opportunity for Hashables to capture some of that market share. Lost Farm maintains a relatively stable position, while In House shows a slight improvement in rank. These dynamics highlight the competitive nature of the Massachusetts edible market and suggest that Hashables may need to innovate or increase marketing efforts to regain its higher rank and boost sales.
Notable Products
In October 2024, Hashables' top-performing product was Watermelon Jolt Solventless Hash Infused Gummies 20-Pack (100mg), maintaining its consistent rank of 1 since July despite a decrease in sales to 2190 units. Following closely, Tropical Typhoon Solventless Gummies 20-Pack (100mg) held the second position, consistent with its ranking in the previous two months. Bangin' Berry Solventless Gummies 20-Pack (100mg) remained at the third spot, showing stability in its ranking as well. Notably, Peachy Mango Solventless Gummies 20-Pack (100mg) improved its position to fourth place, up from a consistent fifth place since July. Electric Grape Gummies 20-Pack (100mg) experienced a slight drop, moving from fourth to fifth place 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.
