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Oct-2024
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Overview
Market Insights Snapshot
Cannabals has shown a steady presence in the New York market, particularly in the Edible category. Although their ranking slightly dipped from 7th in July 2024 to 10th by September and October, the brand maintained its position within the top 10. This indicates a consistent demand for their products despite fluctuations in sales figures. Notably, sales peaked in August with $394,214 but saw a decline in September, which suggests either increased competition or seasonal demand changes. Such trends are crucial for understanding market dynamics and consumer preferences.
In the Vapor Pens category, Cannabals experienced a similar pattern in New York. Starting at 7th place in July, they dropped to 11th by September and October. While this drop might seem concerning, the brand's sales remained robust, with a significant increase from July to August before stabilizing in the following months. This resilience in sales, despite a lower ranking, may point to a loyal customer base or effective marketing strategies. However, the absence of Cannabals in the top 30 in other states or categories could indicate areas for potential growth or challenges that need addressing.
Competitive Landscape
In the competitive landscape of Vapor Pens in New York, Cannabals has experienced a notable shift in its market position over the past few months. Starting from a strong 7th place in July 2024, Cannabals saw a decline to 11th by October 2024. This downward trend is significant as it coincides with the rise of competitors like ghost., which surged from 33rd to 13th place, indicating a rapid increase in market traction. Meanwhile, Heavy Hitters maintained a relatively stable position, fluctuating slightly but remaining within the top 10, suggesting consistent consumer preference. Holiday (NY) also showed resilience, briefly climbing to 7th before settling at 10th, closely trailing Cannabals. These dynamics suggest that while Cannabals remains a key player, it faces intensified competition, particularly from emerging brands that are capturing market share, potentially impacting its sales trajectory and necessitating strategic adjustments to regain its competitive edge.
Notable Products
In October 2024, Cannabals' top-performing product was the THC/CBN 1:1 Blueberry Dream Gummies 20-Pack (100mg THC, 100mg CBN) from the Edible category, achieving the number one rank with sales of 2,412 units. This product improved from its previous second-place rank in September. The Purple Haze Distillate Disposable (1g) from the Vapor Pens category held the second position, slightly dropping from its top rank the previous month. The Forbidden Fruit Distillate Disposable (1g), also in the Vapor Pens category, maintained its third-place position since its introduction in September. Meanwhile, the Strawberry Lemonade Live Resin Gummies 10-Pack (100mg) remained in fourth place, showing a stable performance after a drop from its consistent top rank in July and August.
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.
