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Nov-2024
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Overview
Market Insights Snapshot
urbanXtracts has shown varied performance across different product categories in New York. In the Concentrates category, the brand has experienced a noticeable decline in rankings over the months, dropping from 4th place in August 2024 to 16th place by November 2024. This downward trend is mirrored by a decrease in sales, which fell from $127,626 in August to $35,755 in November. Conversely, in the Pre-Roll category, urbanXtracts made an impressive entry into the top 100 in September 2024, reaching 84th place in October, before slipping back to 98th in November. This fluctuation indicates a potential area for growth, but also highlights the competitive nature of the market. Notably, the brand did not make it into the top 30 in the Vapor Pens category after August, suggesting a need for strategic adjustments to regain traction.
In the Flower category, urbanXtracts has maintained a relatively stable position, though it remains outside the top 80. The brand ranked 94th in August and slightly improved to 86th in September, but then returned to 95th and 96th in October and November, respectively. This consistency, albeit at a lower ranking, could indicate a loyal customer base or a steady market presence that urbanXtracts could potentially build upon. The lack of top 30 rankings in several categories suggests there is room for improvement, particularly in enhancing product offerings or marketing strategies to boost brand visibility and sales. As we observe these trends, it will be interesting to see how urbanXtracts navigates the competitive landscape in New York moving forward.
Competitive Landscape
In the competitive landscape of the New York concentrates market, urbanXtracts has experienced a notable decline in its ranking over the past few months, moving from 4th place in August 2024 to 16th place by November 2024. This downward trajectory in rank correlates with a consistent decrease in sales, suggesting potential challenges in maintaining market share. In contrast, Kingsroad has shown a positive trend, climbing from 19th place in August to 14th place in November, with sales figures reflecting a robust growth pattern. Meanwhile, Olio has maintained a relatively stable presence, re-entering the top 20 in November after a brief absence in October. The emerging presence of Ithaca Organics Cannabis Co. and Adonis Cannabis also highlights the increasing competition, with both brands showing improvements in their rankings and sales figures. For urbanXtracts, these dynamics underscore the need for strategic adjustments to regain its competitive edge in this evolving market.
Notable Products
In November 2024, Riptide Pre-Roll (1g) maintained its position as the top-performing product for urbanXtracts, with sales reaching 1030 units. Screwdriver Live Resin Badder (1g) improved its rank from third to second place, demonstrating a modest increase in sales from 175 to 180 units. Wander Bread (3.5g) climbed to the third position, up from fifth in October, with sales of 115 units. Tree City Haze (7g) re-entered the rankings at fourth place, while A Train (3.5g) made its debut in the fifth position. These shifts indicate a dynamic change in consumer preferences, with pre-rolls and concentrates gaining popularity.
```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.
