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Dec-2024
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Overview
Market Insights Snapshot
Platinum Reserve has shown varied performance across different product categories in New York over the past few months. In the Flower category, the brand experienced a significant drop in ranking from 5th in September to 18th in October but managed to recover to 9th place by December. This fluctuation is mirrored in their sales, which saw a dip in October but rebounded strongly by December. Such movements indicate a potential volatility in consumer preference or supply chain factors affecting their Flower products. In contrast, the Pre-Roll category has not seen as much success, with rankings slipping out of the top 30 in November and just barely recovering to 49th by December, suggesting challenges in maintaining market presence within this segment.
The Vapor Pens category presents another interesting case for Platinum Reserve in New York. The brand was not ranked in the top 30 as of September, indicating a weaker position in this market segment. However, they entered the rankings at 52nd place in October and maintained a presence, albeit declining slightly to 67th by December. This suggests a gradual but not yet robust entry into the Vapor Pens market. The overall trend across categories shows that while Platinum Reserve has a strong foothold in the Flower category, there is room for growth and stabilization in Pre-Rolls and Vapor Pens, which could be crucial for their long-term strategy.
Competitive Landscape
In the competitive landscape of the Flower category in New York, Platinum Reserve experienced notable fluctuations in its market position from September to December 2024. Initially ranked 5th in September, Platinum Reserve saw a significant drop to 18th place in October, before recovering to 12th in November and further improving to 9th in December. This volatility highlights a challenging competitive environment, particularly when compared to brands like Rythm and Nanticoke, which maintained more stable rankings within the top 10 throughout the same period. Rythm consistently outperformed Platinum Reserve, securing a top 7 position each month, while FlowerHouse New York demonstrated a remarkable comeback from 16th in October to 10th in December. These shifts suggest that while Platinum Reserve managed to regain some ground by the end of the year, it faces stiff competition from brands that are either maintaining or improving their market positions, indicating a need for strategic adjustments to sustain and enhance its sales performance.
Notable Products
In December 2024, the top-performing product from Platinum Reserve was Jack Herer (3.5g) in the Flower category, achieving the highest sales figure of 5688 units. Blue Dream (3.5g) followed closely in second place, showing a notable increase from its previous absence in the rankings to a strong position. Northern Lights (3.5g) secured the third spot, slipping from its second-place position in November. Chem Dawg (3.5g) maintained a steady presence in fourth place, consistent with its ranking in October. Bruce Banner (3.5g) rounded out the top five, slightly dropping from its fourth-place spot in November.
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.
