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Oct-2024
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Overview
Market Insights Snapshot
Packwoods has shown varied performance across different states and categories, with notable movements in rankings and sales figures. In Colorado, the brand has experienced a decline in the Pre-Roll category, failing to make it into the top 30 by October 2024, which could be seen as a setback. However, their presence in the Vapor Pens category remains strong, maintaining a top 10 position in October after a brief dip in September. In Michigan, the brand's ranking in the Vapor Pens category has remained relatively stable, holding the 32nd position in both September and October, suggesting a consistent demand in that segment.
In New York, Packwoods has shown resilience in the Pre-Roll category, remaining within the top 20 over the past few months and even improving its position slightly in October. However, their entry into the Vapor Pens category in October at the 51st position indicates room for growth. Meanwhile, in Missouri, the brand has seen a significant drop in the Vapor Pens category from 21st in August to 35th by October, which may indicate increased competition or changing consumer preferences. Despite these challenges, Packwoods continues to hold a presence in various markets, suggesting that while some areas may require strategic adjustments, the brand maintains a foothold in the cannabis industry.
Competitive Landscape
In the competitive landscape of vapor pens in Colorado, Packwoods has experienced notable fluctuations in its market position over the past few months. Starting from a strong 5th place in July 2024, Packwoods saw a decline to 8th in August and further slipped to 11th in September, before slightly recovering to 9th in October. This downward trend in ranking is contrasted by the performance of competitors like O.penVape, which maintained a relatively stable position, ranking 5th in both August and September before falling to 7th in October. Meanwhile, Seed & Strain Cannabis Co. has shown a consistent upward trajectory, moving from 12th in July to 8th by October, indicating a potential shift in consumer preferences. Additionally, Next1 Labs LLC has made significant strides, climbing from 21st in July to 11th in October, suggesting a growing market presence. These dynamics suggest that while Packwoods remains a key player, it faces increasing competition and shifting market trends that could impact its future sales and ranking.
Notable Products
For October 2024, the top-performing product from Packwoods is Sour Gushers Live Resin Packspod Disposable (2g) in the Vapor Pens category, maintaining its first-place ranking from the previous month with sales of 3588. Unicorn Sherbet Live Resin Packspod Disposable (2g) remains strong in second place, showing consistent performance by retaining its position from September. Jelly Dulce Live Resin Packspod Disposable (2g) dropped to third place after leading in September, indicating a shift in consumer preference. Blue Slurpee Live Resin Packspod Disposable (2g) has improved its ranking to fourth place, recovering from a fifth-place position in the previous two months. Gelato Freeze Live Resin Packspod Disposable (2g) rounds out the top five, experiencing a slight decline from its fourth-place ranking in September.
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.
