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Oct-2024
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Overview
Market Insights Snapshot
Haze Cannabis Co. has demonstrated notable consistency in the Concentrates category in Nevada, maintaining a solid top 10 position throughout the past few months. Despite a slight drop from 8th to 9th place in October, the brand's ability to stay within the top 10 suggests a strong foothold in this category. This consistency is underscored by a significant sales spike in September, which indicates a potential seasonal or promotional influence. However, the Vapor Pens category paints a different picture, where Haze Cannabis Co. has struggled to break into the top 30, peaking at 35th in July and remaining outside the top 30 since then. This suggests a potential opportunity for growth or a need for strategic adjustments to enhance their performance in this segment.
Analyzing the performance trends of Haze Cannabis Co. in Nevada reveals a dichotomy between their strong showing in Concentrates and their challenges in Vapor Pens. The brand's decline in the Vapor Pens category rankings, from 35th to consistently below 39th, indicates a competitive market space or possibly a gap in consumer appeal. This contrast between categories highlights the importance of tailored strategies for each product line to capitalize on strengths and address weaknesses. While the Concentrates category demonstrates stability, the Vapor Pens segment requires focused attention to improve market position and capture a larger share of the consumer base in Nevada.
Competitive Landscape
In the competitive landscape of the Nevada concentrates market, Haze Cannabis Co. experienced fluctuations in its ranking and sales performance from July to October 2024. Notably, Haze Cannabis Co. maintained a consistent rank of 8th place in July, August, and September, before dropping to 9th in October. This shift in rank coincides with a significant decrease in sales during October, indicating potential challenges in maintaining market share. Competitors such as Tsunami Labs (NV) and TRENDI showed varied performance, with Tsunami Labs improving its rank to 6th in September before settling at 8th in October, while TRENDI consistently held the 7th position except for a dip to 9th in September. Meanwhile, Fuze Extracts demonstrated upward momentum, climbing from 20th in July to 11th in October, suggesting a growing competitive threat. CAMP (NV) re-entered the top 20 in August, maintaining a stable presence thereafter. These dynamics highlight the competitive pressures Haze Cannabis Co. faces, emphasizing the need for strategic adjustments to regain and sustain higher rankings and sales in the Nevada concentrates market.
Notable Products
In October 2024, the top-performing product from Haze Cannabis Co. was the Crimson Runtz Live Resin Cartridge (0.5g) in the Vapor Pens category, securing the number 1 rank with sales of 549 units. The Bubble Bath Live Resin Cartridge (0.5g), also in the Vapor Pens category, followed closely in second place. Notably, the Belly Laugh Live Resin Sugar (0.05g) from the Concentrates category improved its position from fifth in September to third in October, reflecting a sales increase. Donny Burger Live Resin Badder (1g) and Strawberry OG Live Resin Badder (1g) held the fourth and fifth spots respectively, both debuting in the rankings this month. Overall, the Vapor Pens category dominated the top ranks, while Concentrates showed dynamic movement with Belly Laugh's ascent.
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.
