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Sep-2024
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Overview
Market Insights Snapshot
In the state of New York, the cannabis brand NEXT has shown varying performance in the Edible category over the past few months. Although it hasn't broken into the top 30 rankings, there has been a notable improvement in its standing from June to September 2024, moving from 43rd to 39th place. This upward trend could indicate a growing acceptance or popularity of NEXT's edible products in the New York market. Despite this positive movement, the brand's sales figures demonstrate a fluctuating pattern, with a significant increase in September following a dip in July. This suggests that while NEXT is gaining traction, there are still market dynamics at play that affect its consistency.
Interestingly, the absence of NEXT in the top 30 rankings across other states or provinces might highlight either a strategic focus on the New York market or challenges in penetrating other regions. The brand's performance in New York could serve as a benchmark for potential expansion strategies. The fluctuations in sales and rankings underscore the competitive nature of the cannabis market, where consumer preferences and regulatory environments can significantly impact brand performance. Observing how NEXT leverages its current trajectory in New York could provide insights into its future positioning and market strategies.
Competitive Landscape
In the competitive landscape of the Edible category in New York, NEXT has shown a fluctuating performance over the past few months, with its rank oscillating between 39th and 43rd place from June to September 2024. Despite this variability, NEXT managed to improve its rank from 43rd in June to 39th in both July and September, indicating a slight upward trend. In contrast, competitors like Senior Moments have demonstrated a more consistent and stronger performance, maintaining a rank in the mid-30s and even climbing to 32nd in September. Meanwhile, High Peaks and Ithaca Organics Cannabis Co. have experienced more dramatic shifts, with High Peaks dropping from 26th to 34th and Ithaca Organics falling from 28th to 41st over the same period. This suggests that while NEXT faces stiff competition, particularly from brands like Senior Moments, there is potential for growth if it can capitalize on the volatility of its competitors.
Notable Products
In September 2024, NEXT's top-performing product was Blue Razz Gummies 10-Pack (100mg) in the Edible category, maintaining its number one position consistently since June, with sales reaching 336 units. Mango Nectar Bites Gummies 10-Pack (100mg) also held steady at the second rank, showing a slight recovery with 279 units sold compared to the previous month. Grape Nectar Bites Gummies 10-Pack (100mg) remained in third place, continuing its steady climb in sales figures over the months. The Blue Dream Distillate Cartridge (0.5g) in the Vapor Pens category retained its fourth rank, while Pineapple Express Distillate Cartridge (0.5g) slipped to fifth place after sharing the fourth spot in the previous two months. Overall, the rankings for NEXT's products have shown remarkable stability, with the Edible category consistently dominating the top three spots.
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.
