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Oct-2024
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Overview
Market Insights Snapshot
Hemp Kings has shown a notable upward trajectory in the Flower category within Washington over the past few months. Starting from July 2024, the brand was not in the top 30, ranking at 38.0, but by October 2024, it had climbed to the 24th position. This improvement reflects a consistent increase in their market presence and consumer preference. The sales figures corroborate this upward movement, with a noticeable jump from $222,664 in July to $253,609 in October. This trend suggests that Hemp Kings is strengthening its foothold in the Washington market, potentially driven by strategic initiatives or product innovations that resonate well with consumers.
While Hemp Kings has made strides in Washington's Flower category, their absence from the top 30 rankings in other states or categories could indicate areas for potential growth or challenges they might be facing. Without presence in these rankings, it highlights the competitive nature of the cannabis market and the need for targeted strategies to enhance visibility and sales across different regions. The brand's performance in Washington serves as a benchmark, and if replicated, could pave the way for similar success in other states or categories. Monitoring these movements closely could provide insights into Hemp Kings' broader market strategy and adaptability in diverse markets.
Competitive Landscape
In the competitive landscape of the Flower category in Washington, Hemp Kings has shown a promising upward trajectory in rankings over the past few months. Starting from a rank of 38 in July 2024, Hemp Kings improved its position to 24 by October 2024. This positive trend indicates a growing market presence, potentially driven by strategic marketing or product offerings. In comparison, Sky High Gardens experienced fluctuations, moving from rank 27 in July to 25 in October, while Buddy Boy Farms and Harmony Farms also showed variable rankings, suggesting a competitive but volatile market. Notably, Hemp Kings' sales have consistently increased, aligning with its improved ranking, whereas competitors like Bacon Buds have remained outside the top 20, highlighting Hemp Kings' potential to capture a larger market share in the near future.
Notable Products
In October 2024, the top-performing product for Hemp Kings was Wedding Cake (3.5g) in the Flower category, regaining its number one position with sales of 1547 units. Gorilla Glue #4 Pre-Roll 2-Pack (1g) climbed to the second spot, showing a strong recovery from its fifth position in September. Gorilla Glue #4 (3.5g), also in the Flower category, dropped to third place despite being the top seller in the previous two months. Wedding Cake (1g) maintained a stable presence, ranking fourth, while Wedding Cake Pre-Roll 2-Pack (1g) rounded out the top five, experiencing a slight dip in sales. Overall, the rankings for October reflect a competitive landscape with Wedding Cake products consistently performing well across different formats.
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.
