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Aug-2024
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Overview
Market Insights Snapshot
Pacific Wave has shown a notable performance trend in the Edible category across several states. In Oregon, the brand has seen a steady improvement in its ranking over the past few months. Starting at 23rd place in both May and June 2024, Pacific Wave climbed to 22nd in July and further improved to 19th in August. This upward trajectory indicates a strengthening market presence in Oregon's competitive edible segment. Despite a dip in sales from May to June, the brand managed to bounce back with increasing sales figures through July and August, reflecting effective market strategies and possibly an expanding consumer base.
It's also important to note the absence of Pacific Wave in the top 30 rankings for other states and categories, which could be seen as a missed opportunity or a potential area for growth. The brand's consistent performance in Oregon's edible market suggests that with the right strategies, similar success could be replicated in other states. However, the lack of presence in other state rankings might indicate either a limited distribution network or the need for more aggressive marketing efforts in those regions. This mixed performance highlights the brand's strengths in certain areas while also pointing to opportunities for expansion and improvement.
Competitive Landscape
In the competitive landscape of Oregon's edible cannabis market, Pacific Wave has shown a notable upward trend in rankings from May to August 2024. Initially ranked 23rd in May and June, Pacific Wave climbed to 22nd in July and made a significant leap to 19th in August. This improvement in rank indicates a positive reception and growing market share, even though it started outside the top 20. In contrast, Concrete Jungle and Junk have maintained relatively stable positions within the top 20, with Junk consistently outperforming Pacific Wave. Meanwhile, Canna Crispy has demonstrated a similar upward trajectory, moving from 27th in May to 18th in August, closely mirroring Pacific Wave's performance. Chompd Edibles experienced fluctuations, dropping out of the top 20 in June but recovering to 21st by August. These dynamics suggest that while Pacific Wave is gaining traction, it faces stiff competition from established brands that are also vying for higher market positions.
Notable Products
In August 2024, the top-performing product for Pacific Wave was Grape Giggly Gummy (100mg) in the Edible category, maintaining its number one rank from June 2024 with notable sales of 673 units. Sour Grape Giggly Gummy (50mg) secured the second position, marking its first appearance in the top ranks. Blue Raspberry Galactic Gummies (50mg) dropped from the first position in July to third in August, showing a slight decline in performance. Mango Giggly Gummy (100mg) and Strawberry Giggly Gummy (50mg) both tied for third place, each demonstrating consistent performance over the months. Overall, the rankings show a dynamic shift with new entries and reappearances, highlighting competitive sales within the Edible category.
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.
