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Oct-2024
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Overview
Market Insights Snapshot
Nectar has demonstrated a mixed performance across various categories and states. In the Massachusetts market, Nectar's presence in the Beverage category has been relatively stable, with rankings fluctuating slightly from 11th in July 2024 to 10th by October 2024. Despite a dip in sales in September, the brand managed to recover in October, indicating resilience in the Beverage sector. However, in the Vapor Pens category, Nectar was not ranked in the top 30 until October, when it reached the 58th position. This late entry into the rankings could be seen as a positive development, suggesting potential growth in this category.
In Ohio, Nectar's performance in the Vapor Pens category has been notably more dynamic. The brand was not ranked in the top 30 until September 2024, when it achieved the 58th position, and then made a significant leap to 27th place by October. This upward trajectory in Ohio's Vapor Pens market is a promising sign of Nectar's increasing market penetration and consumer acceptance. However, the absence of Nectar from the top 30 in other categories in both Massachusetts and Ohio suggests room for improvement and expansion. These insights provide a glimpse into Nectar's strategic positioning and potential areas for growth, inviting further exploration into their market strategies and consumer engagement efforts.
Competitive Landscape
In the competitive landscape of vapor pens in Ohio, Nectar has shown a remarkable ascent in recent months. After not ranking in the top 20 for July, August, and September 2024, Nectar surged to the 27th position by October 2024. This upward movement is significant, especially when compared to competitors like The Botanist, which fluctuated between the 28th and 40th ranks, and The Lab Concentrates, which made a substantial leap from 54th to 28th. Nectar's sales in October 2024 reached a notable level, surpassing those of The Solid, which experienced a decline in sales despite maintaining a relatively stable rank. Meanwhile, Old Granger climbed to the 24th position, indicating a competitive environment where rank changes are closely tied to strategic sales efforts. Nectar's recent performance suggests a positive trajectory and potential for further growth in the Ohio vapor pens market.
Notable Products
In October 2024, Cherry Lime Haze Seltzer reclaimed its position as the top-performing product for Nectar, achieving the number one rank in the Beverage category with sales reaching 1,706 units. Following closely, Nitetime - CBD/THC 1:1 Lemon Chamomile Seltzer held the second position, slightly down from its peak in September. Watermelon Gelato Seltzer saw a notable rise, securing the third spot, indicating a resurgence in popularity. Blue Raspberry Runtz Seltzer maintained a steady presence, retaining fourth place for the month. Meanwhile, DayTime - Orange Pineapple Seltzer experienced a drop to fifth, continuing its downward trend from earlier 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.
