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Oct-2024
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Overview
Market Insights Snapshot
In the state of New York, Foy's performance in the Edible category has shown some interesting fluctuations over the past few months. In July 2024, Foy was ranked 14th, dropped slightly to 17th in August, and maintained a similar position at 18th in September. However, by October, Foy regained its 14th position, indicating a positive trend. This rebound in ranking aligns with an increase in sales from September to October, suggesting a successful strategy or product launch that month. The ability to return to a previous high rank after a dip is a notable achievement, especially in a competitive market like New York.
While Foy has been a consistent player in the Edible category in New York, the absence of rankings in other states or categories implies that the brand is either not a top performer or not present in those markets. This could be seen as a limitation in their market reach or a strategic focus on specific regions and product lines. Understanding the reasons behind these absences could provide valuable insights into Foy's overall market strategy. The brand's ability to maintain a spot within the top 20 in New York suggests potential for growth and expansion if they can replicate their strategies in other markets.
Competitive Landscape
In the competitive landscape of the edible cannabis market in New York, Foy has experienced notable fluctuations in its rank over the past few months. After a dip in rank from 14th in July 2024 to 18th in September 2024, Foy rebounded to reclaim the 14th position by October 2024. This recovery is significant as it coincides with a substantial increase in sales, surpassing competitors like Eaton Botanicals and Generic AF, which maintained relatively stable ranks but did not see a comparable sales surge. Meanwhile, Florist Farms consistently hovered around the 10th to 12th rank, indicating a stronger market presence, albeit with declining sales. Foy's ability to bounce back in rank and increase sales suggests a positive trend and potential for further growth in the New York edible market.
Notable Products
In October 2024, Foy's top-performing product was the CBD/THC/CBN 1:1:1 Night Time Strawberry Adaptogen Chews 20-Pack, maintaining its rank from previous months and achieving sales of 3353 units. The CBD/THC/CBG 1:1:1 Daytime Gummies 10-Pack held steady at the second rank, with consistent performance since August. The CBD/THC/CBG 1:1:1 Daytime Mango Blood Orange Gummies 20-Pack remained in third place, although its sales have decreased since July. The CBD Relief Cream, despite low sales figures, maintained its fourth position from July and September. Overall, Foy's product rankings have shown stability, with the top three products consistently holding their positions throughout the past 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.
