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Nov-2024
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Overview
Market Insights Snapshot
Platinum Reserve has shown varied performance across different categories in New York. In the Flower category, the brand experienced notable fluctuations in its ranking over recent months. Starting strong in August 2024 with an 11th place ranking, it climbed to 5th in September, suggesting a significant increase in consumer preference or strategic marketing success. However, the subsequent decline to 15th in October followed by a slight recovery to 11th in November indicates some volatility in this segment. This movement highlights the competitive nature of the Flower category and suggests potential areas for Platinum Reserve to stabilize its presence.
In contrast, the Pre-Roll and Vapor Pens categories present different challenges for Platinum Reserve in New York. The brand did not make it into the top 30 for Pre-Rolls in August, and its rankings in the following months—53rd, 67th, and 88th—illustrate a downward trend, raising concerns about its competitiveness in this category. Similarly, the Vapor Pens category saw Platinum Reserve entering the rankings at 58th in October, only to drop to 62nd in November. These rankings suggest that while the brand has managed to establish a presence, it faces significant hurdles in gaining traction and capturing market share in these segments.
Competitive Landscape
In the competitive landscape of the Flower category in New York, Platinum Reserve has experienced notable fluctuations in its ranking and sales performance over recent months. In August 2024, Platinum Reserve held the 11th position, which improved significantly to 5th in September, likely driven by a surge in sales. However, by October, the brand slipped to 15th, before recovering slightly to 11th in November. This volatility suggests a dynamic market environment with shifting consumer preferences. Notably, Grassroots has shown a steady upward trajectory, climbing from 18th in August to 12th in November, indicating a consistent growth in sales. Meanwhile, Electraleaf experienced a decline from 7th in August to 13th in November, which could signal challenges in maintaining its earlier market position. Heady Tree demonstrated a remarkable rebound from being outside the top 20 in September to 9th in November, reflecting a significant recovery in sales. Rolling Green Cannabis maintained a relatively stable position, hovering around the 9th to 12th ranks, suggesting a steady consumer base. These dynamics highlight the competitive pressures Platinum Reserve faces, necessitating strategic adjustments to sustain and enhance its market presence.
Notable Products
In November 2024, Northern Lights (3.5g) emerged as the top-performing product for Platinum Reserve, reclaiming its number one rank from September after a brief drop to fourth place in October, with notable sales of 3,107 units. Heavy OG (3.5g) maintained a consistent presence, holding the second position, although its sales slightly decreased compared to the previous month. Hawaiian Runtz (3.5g) made a significant debut, securing the third rank without previous rankings, indicating a strong market entry. Chem Dawg (3.5g) showed stability by retaining its fourth position from October, reflecting steady demand. Jack Herer (3.5g) rounded out the top five, recovering from being unranked in September and slightly improving its sales performance since October.
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.
