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Oct-2024
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Overview
Market Insights Snapshot
Hi5 Seltzer has shown consistent performance in the Beverage category within the state of Massachusetts. For the months of July and August 2024, Hi5 Seltzer maintained a strong position, ranking 2nd among beverage brands. However, there was a slight dip in September and October, where it moved to the 3rd position. This indicates a minor decline in its market share or a possible increase in competition within the top ranks. Despite the drop in ranking, Hi5 Seltzer remained within the top 3, showcasing its resilience and strong brand presence in the Massachusetts market.
While Hi5 Seltzer's performance in Massachusetts demonstrates a strong foothold, the absence of rankings in other states or provinces suggests potential areas for growth or challenges in gaining market penetration. The lack of ranking in the top 30 in other regions could be seen as a missed opportunity for expansion or a focus on strengthening their existing markets. Understanding the dynamics of these markets and consumer preferences could be key to Hi5 Seltzer's strategy in broadening its reach beyond Massachusetts.
Competitive Landscape
In the Massachusetts beverage category, Hi5 Seltzer has consistently maintained a strong presence, ranking third from September to October 2024, despite a slight decline in sales from July to October. This stability in rank positions Hi5 Seltzer as a resilient competitor amidst fluctuating market dynamics. Notably, Levia has consistently held the top position, indicating a significant lead in the market. Meanwhile, CANN Social Tonics and Chill Medicated have shown varying performance, with Chill Medicated improving its rank to second place by October 2024, potentially challenging Hi5 Seltzer's position. The competitive landscape suggests that while Hi5 Seltzer remains a key player, it faces pressure from both established leaders and rising brands, highlighting the importance of strategic marketing and product innovation to maintain and enhance its market standing.
Notable Products
In October 2024, the top-performing product from Hi5 Seltzer was Pomegranate Seltzer 4-Pack (20mg) in the Beverage category, which rose to the number one spot with sales reaching 1,915 units. Black Cherry Infused Seltzer 4-Pack (20mg), which had consistently held the top rank from July to September, dropped to second place. Watermelon Seltzer 4-Pack (20mg) maintained a steady presence, securing the third rank, showing a slight increase in sales compared to September. The CBD/THC 2:1 Micro Peach Mango Seltzer 4-Pack (20mg CBD, 10mg THC) witnessed a decline, moving from the second rank in September to fourth in October. Lime Infused Seltzer 4-Pack (20mg) remained stable at the fifth position, indicating consistent performance over the months.
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.
