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Apr-2024
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Overview
Market Insights Snapshot
In New York, Honest Pharm Co has shown a notable performance across several cannabis categories, with a particularly striking trajectory in the Flower and Pre-Roll segments. Starting outside the top 30 in January 2024 for Flower, they made a significant leap to rank 21st by April, underscoring a robust upward trend in popularity and sales, which more than sextupled from January to April. Similarly, their Pre-Roll category saw a steady climb from 29th to 22nd place within the same period, demonstrating consistent growth. However, their Vapor Pens category tells a different story, with rankings fluctuating and ultimately not making the top 30 by April 2024, a signal that might concern stakeholders about their market positioning in this segment.
While Honest Pharm Co's sales in the Flower category for January 2024 were modest at $29,792, the dramatic increase in sales to $198,763 by April highlights a rapid acceleration in market demand and acceptance. This growth trajectory suggests a successful strategy in capturing consumer interest and expanding market share within New York. On the other hand, the absence of ranking for Vapor Pens in April could indicate challenges in either supply chain, consumer preferences, or competitive pressures within this category. The consistent performance in the Pre-Roll category, culminating in a ranking of 22nd by April, reflects a solid presence but also hints at areas for further growth and potential to capture a larger share of the market. Honest Pharm Co's varied performance across categories underscores the importance of strategic flexibility and market responsiveness in the dynamic cannabis industry.
Competitive Landscape
In the competitive landscape of the Flower category in New York, Honest Pharm Co has shown a remarkable trajectory of improvement in its rankings over the recent months, moving from not being in the top 20 in January and February to securing the 21st position by April 2024. This upward movement is significant when compared to its competitors, such as Tyson 2.0, which experienced a decline from the 12th to the 22nd position in the same timeframe, and Mfny (Marijuana Farms New York), which saw a fluctuating performance but ended up at the 20th position by April. Another notable competitor, Alchemy Pure, maintained a more stable presence in the rankings, hovering around the 19th spot by April, while Rolling Green Cannabis remained relatively steady, ending at the 23rd position. Honest Pharm Co's significant rank improvement, particularly its leap in April, alongside a substantial increase in sales, positions it as a brand with notable momentum in the New York Flower market, suggesting a growing consumer interest and market presence relative to its competitors.
Notable Products
In April 2024, Honest Pharm Co.'s top-selling product was Ice Box Pie (3.5g) from the Flower category, with sales reaching 1150 units. Following closely was Big Grape Kiwi Pre-Roll (1g) in the Pre-Roll category, ranking second after not being in the top rankings the previous months. The Skywalker Headband Pre-Roll (1g), also in the Pre-Roll category, secured the third spot with 892 units sold, showing a slight decrease from its leading position in March. Additionally, the Midnight Cookies strain saw two of its products making the top 5, with the 7g variant ranking fourth and the 3.5g variant ranking fifth, indicating a strong preference among consumers for this line. These rankings highlight a significant shift in consumer preferences within Honest Pharm Co.'s product range, especially noting the rise of Ice Box Pie and the consistent performance of Skywalker Headband Pre-Roll over several 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.
