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Nov-2024
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Overview
Market Insights Snapshot
Lucid has shown consistent performance in the topical category within Washington. For four consecutive months from August to November 2024, Lucid maintained its position as the 5th ranked brand in this category. Despite this stable ranking, there was a noticeable decline in sales from August to November, indicating potential challenges in maintaining market share or consumer interest. This trend could be a signal for the brand to reassess its strategy or product offerings to ensure it retains its competitive position.
Interestingly, Lucid's presence does not extend into the top 30 brands in any other states or categories during the same period. This absence highlights a potential area for growth and expansion, as the brand could explore opportunities to diversify its market presence beyond Washington. The consistent ranking in Washington suggests a strong local foothold, but the lack of visibility in other markets could be a limitation if the brand aims to scale its operations or enhance its brand recognition across a broader geographic area.
Competitive Landscape
In the Washington Topical category, Lucid consistently held the 5th rank from August to November 2024, indicating a stable position in the market despite fluctuations in sales. This steadiness in rank suggests that while Lucid's sales saw a downward trend, dropping from August's figures to November's, the brand maintained its competitive edge against other brands. Notably, Agro Couture and Fairwinds consistently ranked higher than Lucid, occupying the 3rd and 4th positions respectively, with Agro Couture showing a strong sales performance throughout this period. Meanwhile, Hazy Daze entered the rankings in October at the 6th position, indicating emerging competition. This competitive landscape suggests that while Lucid maintains a solid rank, there is room for strategic improvements to boost sales and potentially climb higher in the rankings.
Notable Products
In November 2024, Indica Infusions (1000mg) maintained its position as the top-performing product for Lucid, consistently holding the number one rank since August 2024, despite a decrease in sales to 502 units. Sativa Infusion (1000mg) also retained its second-place ranking, though it experienced a significant drop in sales compared to previous months. Apples & Bananas (14g) remained steady in third place, showing consistent performance since September 2024. Sativa Infusion (500mg) held onto the fourth rank, while Indica Infusions (500mg) stayed in fifth place, both reflecting stability in their rankings since October 2024. Overall, the top products for Lucid in November demonstrated a trend of stable rankings with some fluctuations in sales figures.
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.
