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Oct-2024
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Overview
Market Insights Snapshot
Verano's performance across various states and product categories reveals a dynamic yet varied presence in the cannabis market. In Illinois, Verano shows strong consistency in the Pre-Roll category, maintaining a solid third place from August to October 2024. However, its Concentrates ranking slipped from 18th in July to 24th by October, indicating a potential area of concern. Meanwhile, Verano's Flower category in Illinois showed a gradual improvement, moving from 33rd in July to 29th in October, suggesting a positive trend in consumer preference. In Maryland, Verano's Vapor Pens category improved its ranking from 24th in July to 22nd in October, while the Pre-Roll category experienced a slight drop from 5th to 7th place over the same period.
Examining Verano's presence in other states, the brand's performance in Ohio shows promising signs, particularly in the Vapor Pens category, which improved from 33rd in August to 23rd in October. However, Verano's Flower category in Nevada did not make it into the top 30 rankings for September and October, a potential area for strategic focus. In contrast, the Pre-Roll category in Nevada saw a notable absence in October after maintaining a presence earlier in the quarter. These fluctuations highlight the importance of targeted strategies to strengthen Verano's market position across different states and product categories.
Competitive Landscape
In the Illinois pre-roll category, Verano has consistently maintained its position as the third-ranked brand from August to October 2024, indicating a stable presence in the market. Despite a slight dip in sales from September to October, Verano's rank remains unchanged, suggesting resilience against competitive pressures. Notably, Dogwalkers holds the top position, significantly outpacing others in sales, while Ozone consistently ranks second with a growing sales trend. Meanwhile, Rythm re-emerged in October at the fourth rank, potentially posing a future challenge to Verano. Daze Off, which fluctuated between fourth and fifth positions, also reflects the dynamic nature of this competitive landscape. These insights highlight Verano's strong market position but also underscore the need to strategize against emerging competitors to maintain or improve its rank.
Notable Products
In October 2024, Verano's top-performing product was Travelers Essence - Cantaloupe Haze BDT Distillate Disposable (0.3g) in the Vapor Pens category, which climbed to the number one spot from fourth place in September. Traveler Essence - Bombsicle BDT Distillate Disposable (0.3g) also saw significant improvement, rising to second place after not being ranked in September, with notable sales of 4317 units. Reserve Swift Lifts - Strawberry Milkshake Pre-Roll 5-Pack (2.5g) debuted impressively in third place in the Pre-Roll category. Essence Travelers - Strawberry Cough BDT Distillate Oil Disposable (0.3g) secured the fourth position, marking its first appearance in the rankings. Lastly, Reserve - White Tangie (2.83g) experienced a decline, dropping to fifth place from its previous second place in August.
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.
