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Oct-2024
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Overview
Market Insights Snapshot
INDO has shown a notable performance in the state of Nevada across various categories. The brand has consistently maintained a strong position in the Capsules category, climbing from a second-place rank in the previous months to securing the top spot in October 2024. This upward trend is indicative of a growing consumer preference for their products in this category. In the Topical segment, INDO has also demonstrated resilience, holding a steady position around the top three ranks over the past months. However, in the Pre-Roll category, the absence of a rank for several months until October suggests a potential area for improvement or a strategic shift in focus. Meanwhile, their Vapor Pens have seen gradual progress, improving from the 18th position in July to the 14th in October, which could signify a positive reception in the market.
In Washington, INDO's presence in the Flower category has been less consistent. The brand was unable to break into the top 30 in October, after fluctuating ranks in the preceding months, which could indicate a competitive market or shifting consumer tastes. Despite this, the sales data suggests that there was some recovery in the months prior to October, hinting at potential for growth if strategic adjustments are made. The absence of rank in October might be seen as a setback, but it also presents an opportunity for INDO to reevaluate its approach and potentially re-enter the competitive landscape with renewed vigor. The varying performances across states and categories highlight the dynamic nature of the cannabis market and the need for brands like INDO to continuously adapt and innovate.
Competitive Landscape
In the Nevada Vapor Pens category, INDO has shown a consistent upward trend in its ranking over the past few months, moving from 18th place in July 2024 to 14th place by October 2024. This positive trajectory indicates a strengthening market position, despite facing stiff competition from brands like Provisions and CAMP (NV). Notably, Provisions experienced a dip in rank from 11th to 12th between September and October, while CAMP (NV) dropped from 9th to 13th in the same period, suggesting potential volatility in their sales performance. Meanwhile, emerging competitors like Dabwoods Premium Cannabis and Royalesque have also improved their standings, with Dabwoods Premium Cannabis climbing from 19th to 16th and Royalesque from 23rd to 17th. This competitive landscape highlights the dynamic nature of the market, where INDO's steady rise in rank suggests effective strategies in capturing consumer interest and increasing sales.
Notable Products
In October 2024, INDO's top-performing product was the CBD/CBN/THC 4:4:1 Jungle Stick IndoBalm, maintaining its consistent number one rank since July, with sales reaching 1477 units. The Gelato Distillate Disposable made significant gains, climbing to the second position from fourth in August, with sales increasing to 1218 units. Acapulco Gold Distillate Disposable saw a modest rise to the third spot, despite fluctuating ranks in previous months. Blueberry Punch Distillate Disposable dropped to fourth place after holding the second position in September. The THC Max Tablet Capsule 8-Pack entered the top five for the first time in October, indicating a growing interest in this category.
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.
