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Oct-2024
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Overview
Market Insights Snapshot
Hot Shotz has shown consistent performance in the Washington market within the Beverage category, maintaining a solid 8th position from July to October 2024. This stability in ranking suggests a steady demand for their beverage products, with a notable increase in sales from September to October, rising from 101,524 to 120,432. This upward trend in sales, despite maintaining the same rank, indicates that Hot Shotz is potentially capturing a larger share of the market, or that the overall market size is expanding, allowing them to increase sales while holding their position. This level of performance is crucial for sustaining brand recognition and customer loyalty in a competitive market.
While Hot Shotz has secured its place in the top 10 in Washington, it is important to note that the brand does not appear in the top 30 rankings for any other state or province across any category for the months analyzed. This absence could be viewed as a limitation in their market penetration outside of Washington, suggesting potential areas for growth or strategic expansion. The lack of presence in other markets might imply a need for Hot Shotz to diversify its offerings or enhance its marketing strategies to tap into new regions. This scenario presents both a challenge and an opportunity for the brand to explore new territories and broaden its consumer base.
Competitive Landscape
In the competitive landscape of the beverage category in Washington, Hot Shotz consistently maintained its position at rank 8 from July to October 2024, showcasing stability amidst a dynamic market. Notably, Agro Couture held a steady rank of 6 during the same period, indicating a robust market presence with sales consistently higher than Hot Shotz. Meanwhile, Constellation Cannabis also maintained its rank at 7, closely trailing Agro Couture but still ahead of Hot Shotz in terms of sales. Despite these challenges, Hot Shotz experienced a positive sales trajectory, particularly in October 2024, where it saw a significant increase in sales, suggesting effective marketing strategies or product innovations. In contrast, Blaze Soda and Ratio remained at ranks 9 and 10, respectively, with sales figures consistently lower than Hot Shotz, highlighting Hot Shotz's competitive edge in the mid-tier segment of the market.
Notable Products
In October 2024, Hot Shotz's top-performing product was the Blue Raspberry Energy Drink (100mg THC, 2oz), maintaining its number one rank for four consecutive months with a notable sales figure of 4473 units. The CBD/THC 1:1 Watermelon Energy Drink (100mg CBD, 100mg THC, 2oz) also held steady in second place, showing consistent popularity. The Green Apple Energy Drink (100mg THC, 2oz) retained its third-place position, indicating stable demand. The Fruit Punch Energy Drink (100mg THC, 2oz) improved its ranking from fifth in August and September to fourth in October, suggesting a resurgence in consumer interest. Meanwhile, the Dragon Fruit Energy Shot (100mg THC, 2oz) debuted in the rankings in September at fourth place and settled into fifth place in October, showing potential for future growth.
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.
