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Oct-2024
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Overview
Market Insights Snapshot
In the state of Nevada, Royalesque has shown a significant upward trend in the Vapor Pens category over the past few months. Starting from a rank of 31 in July 2024, the brand has climbed steadily to reach the 17th position by October 2024. This movement indicates a growing consumer preference for Royalesque's vapor pen offerings, as evidenced by the increase in sales from $72,779 in July to $200,189 in October. The brand's ability to break into the top 30 and then advance further suggests a successful strategy or product appeal in this competitive category.
However, it's important to note that Royalesque's presence is not consistent across all states and categories, as they did not appear in the top 30 for any other state or category during the same period. This absence could be interpreted as a lack of market penetration or competitive edge in those areas, presenting both a challenge and an opportunity for growth. The brand's performance in Nevada might serve as a blueprint for expansion strategies elsewhere, though specific tactics and consumer preferences may vary by region. Understanding these dynamics could be key for stakeholders looking to capitalize on Royalesque's potential in other markets.
Competitive Landscape
In the Nevada Vapor Pens category, Royalesque has shown a remarkable upward trajectory in its market position over the past few months. Starting from outside the top 20 in July 2024, Royalesque climbed to 17th place by October 2024, indicating a significant improvement in its competitive standing. This rise is notable when compared to competitors like INDO, which consistently maintained a higher rank, moving from 18th to 14th place, and Dabwoods Premium Cannabis, which improved from 26th to 16th place. Meanwhile, Dime Industries and BOUNTI have also shown fluctuations, with Dime Industries moving from 22nd to 18th and BOUNTI experiencing a slight decline from 16th to 19th. Royalesque's sales growth has been robust, suggesting that its strategic initiatives are effectively resonating with consumers, positioning it as a rising contender in this competitive market.
Notable Products
In October 2024, the top-performing product for Royalesque was Cherry Zlushie Distillate Disposable (0.5g) in the Vapor Pens category, reclaiming the number one spot from its third position in September with sales of 3106 units. Blue Cheese Distillate Disposable (0.5g) made a significant leap, climbing from fourth in September to second in October, indicating a strong increase in consumer preference. GDP Distillate Disposable (0.5g) experienced a drop, moving from first in September to third in October, suggesting a shift in consumer interest. Green Crack Distillate Disposable (0.5g) remained stable in the fourth position, while Outer Zen Distillate Disposable (0.5g) fell from second to fifth, reflecting a decrease in sales momentum. Overall, the Vapor Pens category showed dynamic changes in rankings, highlighting varying consumer trends within Royalesque's product lineup.
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.
