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Aug-2024
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Overview
Market Insights Snapshot
SnacMe has experienced fluctuating performance across various categories and states, particularly in the Washington market. In the Edible category, SnacMe ranked 31st in May 2024, slightly declining to 32nd in June, and further dropping to 34th in July. By August, SnacMe had fallen out of the top 30 rankings entirely. This trend suggests a downward movement in consumer preference or increased competition within the Edible category in Washington. The sales figures corroborate this trend, showing a notable decline from $20,381 in May to $13,109 in July, indicating a need for strategic adjustments to regain market share.
Looking at the broader picture, SnacMe's absence from the top 30 rankings in August could be a cause for concern, highlighting potential challenges in maintaining a competitive edge. The brand's consistent drop in rankings over the summer months suggests that it may need to innovate or enhance its marketing efforts to capture consumer interest. While specific sales data for August is not available, the trajectory indicates that SnacMe might be facing difficulties in sustaining its market presence. Observing these trends can provide valuable insights for stakeholders and help in strategizing future moves to stabilize and improve SnacMe's performance across different states and categories.
Competitive Landscape
In the Washington Edible category, SnacMe has experienced notable fluctuations in its ranking over the past few months, which directly impacts its sales performance. In May 2024, SnacMe held the 31st rank, slightly dropping to 32nd in June, and further to 34th in July, before falling out of the top 20 in August. This downward trend contrasts with the performance of competitors like Spot, which also saw a decline but maintained higher sales figures, and Northwest Cannabis Solutions, which entered the rankings in July at 36th and improved to 34th in August. These shifts suggest that while SnacMe's market presence is waning, its competitors are either stabilizing or improving, which could be a critical factor for SnacMe to address in its strategic planning to regain market share and boost sales.
Notable Products
In August 2024, the top-performing product for SnacMe was Candy Apple Gummy Bombs 10-Pack (100mg) in the Edible category, maintaining its number one rank from July with sales of 192 units. Peaches and Cream Gummy Bombs 10-Pack (100mg) also in the Edible category, moved up to the second position from third in July, with notable sales figures of 168 units. Indica Loconut Oil Infusions (500mg) in the Topical category entered the rankings at third place. Pineapple Habanero Gummy Bombs 10-Pack (100mg), another Edible, maintained its fourth position from July. Hybrid Loconut Oil (1000mg THC, 1oz) in the Topical category debuted in the fifth position. This month saw a consistent preference for gummy products in the Edible category while introducing two new Topical products into the top five.
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.
