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Aug-2024
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Overview
Market Insights Snapshot
Lucid has demonstrated a consistent performance in the Topical category within Washington. Over the months from May to August 2024, the brand maintained a steady rank of 5th place. This stability suggests a strong market presence and consumer loyalty in the state. Notably, there was a significant sales increase from June to July, indicating a positive reception to possibly new or improved products. However, the slight dip in sales from July to August might warrant further analysis to ensure it is not the beginning of a downward trend.
While Lucid's performance in Washington's Topical category remains noteworthy, the absence of their ranking in other states and categories within the top 30 could be seen as a limitation. This lack of broader market penetration might highlight areas for potential growth or indicate regional preferences that Lucid has yet to tap into. For brands aiming to expand their footprint, understanding these gaps and strategizing accordingly could be crucial. This analysis provides a snapshot of Lucid's current standing, yet there are more nuanced details and trends that could further inform strategic decisions for stakeholders.
Competitive Landscape
In the Washington state topical cannabis market, Lucid has maintained a consistent rank of 5th place from May to August 2024. Despite this stability, Lucid's sales have shown some fluctuations, peaking in July before experiencing a slight decline in August. This steady ranking places Lucid behind competitors like Fairwinds and Agro Couture, which have consistently occupied higher ranks and demonstrated stronger sales performance. Notably, Fairwinds and Agro Couture have swapped positions between 3rd and 4th place, indicating a competitive tussle at the top. Meanwhile, Hazy Daze has shown variability, missing from the top 20 in June but recovering to 6th place by August. This dynamic competitive landscape suggests that while Lucid remains a reliable player, there are opportunities for growth and improvement to climb the ranks and increase sales.
Notable Products
In August 2024, Indica Infusions (1000mg) maintained its position as the top-performing product for Lucid, achieving sales of 875 units. Sativa Infusion (1000mg) also held steady at the second spot, though its sales decreased to 477 units. The newly introduced Sativa Infusion (500mg) debuted strongly at rank three. Indica Infusions (500mg) dropped from third place in July to fourth in August, with a notable decline in sales. Amaretto Mintz (1g) remained consistent in fifth place despite fluctuating sales figures throughout previous 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.
