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Oct-2024
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Overview
Market Insights Snapshot
Magnitude has shown varied performance across different states and categories, particularly in the Vapor Pens category. In New York, Magnitude has maintained a strong foothold, consistently ranking 5th from July to October 2024. This stability is reflected in their sales figures, which, despite a slight decline, remain robust. In contrast, Colorado presents a different scenario, where Magnitude has not broken into the top 30, indicating a more challenging market presence. This absence signifies potential areas for growth or a need to reassess market strategies in such states.
In Illinois, Magnitude's performance in the Vapor Pens category has been relatively stable, maintaining a rank around the 40th position. However, the brand has faced challenges in Maryland, where it slipped from 18th in July to 21st in October. This decline in ranking is mirrored by a notable drop in sales, suggesting increased competition or shifting consumer preferences. Meanwhile, in Ohio, Magnitude appeared in the rankings in July but did not sustain a top 30 position in subsequent months, highlighting the competitive nature of the market there.
Competitive Landscape
In the competitive landscape of vapor pens in New York, Magnitude has consistently maintained its position at rank 5 from July to October 2024, showcasing a stable performance in the market. Despite this consistency, Magnitude faces stiff competition from brands like Mfny (Marijuana Farms New York) and Jaunty, which have held ranks 4 and 3 respectively over the same period, indicating a slightly stronger market presence. Notably, Mfused has shown significant upward momentum, climbing from rank 19 in July to rank 7 by October, which could pose a potential threat to Magnitude's position if this trend continues. Meanwhile, Fernway remains a close competitor, consistently ranking just below Magnitude at position 6. The sales trends suggest that while Magnitude's sales have slightly decreased from September to October, competitors like Mfny and Jaunty have experienced an increase, highlighting the need for Magnitude to strategize effectively to maintain and potentially improve its market ranking.
Notable Products
In October 2024, Cherry Kush Distillate Cartridge (1g) emerged as the top-performing product for Magnitude, maintaining its number one rank from August with sales reaching 6,071 units. Dutch Treat Haze Distillate Cartridge (1g) held its position at second place, showcasing consistent performance since September. The Mimosa Distillate Cartridge (1g) made a notable entry into the rankings at third place, indicating strong demand. London Pound Cake Distillate Cartridge (1g) improved its standing to fourth position from fifth in September. Gelato Live Terp Cartridge (1g) debuted in the rankings at fifth place, highlighting its growing popularity in the Vapor Pens 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.
