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Apr-2024
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Overview
Market Insights Snapshot
In the competitive cannabis market of Washington, Smokey Point Productions (SPP) has demonstrated notable consistency and resilience across several categories. Within the concentrates category, SPP maintained a solid fourth-place ranking throughout the first four months of 2024, showcasing their strong presence and consumer loyalty in this segment. However, a slight decline in sales from March to April suggests a potential area for strategic focus. The brand's performance in the vapor pens category is also commendable, with rankings fluctuating slightly but remaining within the top 10, indicating a robust product offering that resonates well with consumers. This is further underscored by their impressive sales figures in January 2024, which exceeded $763,000, highlighting their dominance in this category.
On the other hand, SPP's journey in the flower and pre-roll categories tells a different story. Their rankings in the flower category have seen a gradual decline, moving from 15th in January to 19th by April 2024. This downward trend, while not drastic, suggests a need for SPP to revisit their strategies within this category to bolster their market position. The pre-roll category presents an opportunity for growth, with rankings improving from 71st in January to 56th in March, before slightly dropping to 60th in April. The positive trajectory in the early months of 2024 indicates an increasing consumer interest in SPP's pre-roll offerings, which could be leveraged with targeted marketing efforts and product innovation to further enhance their standing in this competitive space.
Competitive Landscape
In the competitive landscape of the Vapor Pens category in Washington, Smokey Point Productions (SPP) has shown a consistent performance, maintaining its position in the top 10 rankings from January to April 2024. Despite facing stiff competition, SPP managed to secure the 8th position in January and slightly shifted to the 9th position from February to April, indicating a stable market presence amidst fluctuating sales figures. Notably, Dabstract has consistently outperformed SPP, holding the 7th rank throughout the same period, with sales figures notably higher than SPP's. On the other hand, Ooowee, another key competitor, showed a remarkable improvement, moving from the 9th position in January to the 8th by April, closely tailing SPP with a significant increase in sales. Meanwhile, Forbidden Farms and Cookies have seen varying ranks but remained in the lower top 10 to early teens, indicating a competitive but less direct threat to SPP's market share. This dynamic suggests that while SPP maintains a strong position, the brand must innovate and adapt to sustain and grow its market share against rising competitors like Ooowee and established players like Dabstract.
Notable Products
In April 2024, Smokey Point Productions (SPP) saw the Regulator - Purple Punch Distillate Cartridge (1g) emerge as its top-selling product with sales reaching 3128 units. Following closely, the Regulator - King Louis XIII Distillate Cartridge (1g) secured the second spot, showcasing a significant rebound in its ranking from the fifth position in the previous months. The third place was claimed by the Regulator - Jack Herer Distillate Cartridge (1g), which had not been ranked in the earlier part of the year but made a notable appearance in March before climbing to its current position. The Regulator - Hawaiian Shaved Ice Distillate Cartridge (1g) maintained a steady performance, holding onto the fourth rank from March to April. Lastly, the Regulator - Wedding Cake Distillate Cartridge (1g), which led the sales in January, experienced a decline, settling at the fifth position in April.
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.
