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Dec-2024
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Overview
Market Insights Snapshot
Verano has shown notable performance fluctuations across different product categories and states in recent months. In Illinois, Verano's ranking in the Concentrates category has seen a slight recovery, moving from 23rd in October to 19th by December, indicating a positive trend despite a dip in sales during October. However, the Flower category tells a different story, as Verano fell out of the top 30 rankings in November, only to return to 32nd place by December, suggesting challenges in maintaining a competitive edge. Meanwhile, their Pre-Roll category, while starting strong at 3rd place in September, saw a decline to 9th place by December, reflecting a potential shift in consumer preference or increased competition.
In Maryland, Verano has maintained a stable presence in the Concentrates category, consistently ranking around 10th place, with a noticeable increase in sales towards the end of the year. The Flower category showed improvement, moving up from 40th place in September to 34th by December, suggesting a strengthening market position in this segment. In contrast, Verano's Vapor Pens in Ohio showed a promising upward trend, climbing from 25th place in September to 19th by December, highlighting growing consumer interest or effective marketing strategies. However, in Nevada, Verano's absence from the rankings in the Pre-Roll category after September could indicate a loss of market share or strategic withdrawal from the category.
Competitive Landscape
In the competitive landscape of the Illinois pre-roll category, Verano experienced a notable decline in rank from September to December 2024, dropping from 3rd to 9th place. This shift indicates a challenging period for Verano, as competitors such as Nature's Grace and Wellness and Lowell Herb Co / Lowell Smokes showed more resilience. Notably, Lowell Herb Co / Lowell Smokes improved its rank from 11th to 7th, showcasing a significant upward trend in sales performance. Meanwhile, Nature's Grace and Wellness maintained a higher rank than Verano throughout the period, despite a gradual decline from 5th to 10th place. This competitive pressure highlights the dynamic nature of the Illinois pre-roll market and underscores the need for Verano to strategize effectively to regain its standing and boost sales.
Notable Products
In December 2024, the top-performing product for Verano was the Travelers Essence - Cantaloupe Haze BDT Distillate Disposable (0.3g) in the Vapor Pens category, which ascended to the first rank with sales of 4975 units. This item showed a consistent upward trend, rising from the fifth position in September to the top by December. The Traveler Essence - Bombsicle BDT Distillate Disposable (0.3g) also performed well, securing the second position, an improvement from its fourth rank in November. Reserve Stix - Gelato Pre-Roll (1g) debuted in December at the third rank, indicating strong sales for its initial month. Meanwhile, Reserve Swift Lifts - Gelato Pre-Roll 5-Pack (2.5g) saw a slight decline, moving from third in November to fourth in December.
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.
