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Oct-2024
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Overview
Market Insights Snapshot
P3 has shown a notable performance in the Pre-Roll category across various states, with significant movements in rankings and sales. In Colorado, P3's ranking improved dramatically from 49th in September 2024 to 24th in October 2024, indicating a positive trend in consumer preference. This improvement is reflected in their sales, which saw a substantial increase in the same period. In contrast, Illinois saw P3 maintaining a consistent position at 24th in both September and October 2024, suggesting a stable market presence. However, the brand's absence from the top 30 in Michigan for July and August 2024 highlights areas where P3 could focus on expanding its influence.
In Maryland, P3 experienced a slight decline, moving from 14th in July to 19th in October 2024, which could suggest increasing competition or shifting consumer preferences. Despite this, their sales remained relatively strong, indicating a loyal customer base. Meanwhile, New York stands out as a success story for P3, with the brand climbing from 36th in July to a solid 14th place by September and maintaining this position into October 2024. This upward trajectory in New York is accompanied by a significant increase in sales, pointing towards effective market strategies or product appeal. These insights provide a glimpse into P3's varying market dynamics across different regions, showcasing both opportunities and challenges.
Competitive Landscape
In the competitive landscape of the New York Pre-Roll category, P3 has demonstrated a significant upward trajectory in its market position over the past few months. Starting from a rank of 36 in July 2024, P3 has impressively climbed to rank 14 by October 2024, indicating a strong growth trend in both rank and sales. This ascent is noteworthy when compared to competitors such as Toast, which experienced fluctuations, peaking at rank 8 in August before dropping to rank 13 in October. Similarly, Packwoods maintained a relatively stable presence, hovering around ranks 12 to 15, but did not exhibit the same upward momentum as P3. Meanwhile, Revert Cannabis New York consistently outperformed P3 in terms of rank, yet P3's rapid ascent suggests a potential challenge to Revert's position if the trend continues. Rolling Green Cannabis also showed improvement but remained behind P3, highlighting P3's competitive edge in capturing market share and increasing sales in this dynamic market.
Notable Products
In October 2024, the top-performing product from P3 was the Loaded Banana Milkshake Infused Blunt (2g) in the Pre-Roll category, maintaining its number one rank from September and achieving a notable sales figure of 8,524 units. The Sour Meltdown Infused Blunt (2g) held steady at the second position, showing a consistent performance over the past months. Choco Berry Chuck Infused Pre-Roll (1g) climbed to third place, improving from its fourth rank in September. Blueberry AK Limeade Infused Pre-Roll (1g) dropped to fourth position after being the top product in August. Wilson We Need More Mangoes Infused Pre-Roll (1g) rounded out the top five, experiencing a decline from its earlier first and second ranks in July and August, respectively.
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.
