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Nov-2024
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Overview
Market Insights Snapshot
Verano's performance across various categories and states has shown notable shifts over recent months. In Illinois, the brand has maintained a strong presence in the Pre-Roll category, consistently ranking within the top 10, although there was a slight dip from 3rd place in October 2024 to 6th in November 2024. The Concentrates category also saw an improvement, moving from 24th in October to 19th in November, indicating a positive trend. However, the Flower category in Illinois has seen a decline, slipping from 30th in October to 35th in November, which could be a point of concern. Meanwhile, in Maryland, Verano has experienced a decline in the Pre-Roll category, dropping from 3rd place in August to 9th in November, suggesting increased competition or a shift in consumer preferences.
In Nevada, Verano's presence in the Pre-Roll category has been inconsistent, with the brand failing to make the top 30 in the most recent months, which could be seen as a setback. Conversely, in Ohio, Verano has shown a promising upward trajectory in the Vapor Pens category, climbing from 33rd place in August to 18th in November, which highlights a strengthening market position. The Flower category in Ohio also saw some fluctuations, with a minor improvement from 34th in August to 31st in November. Overall, while Verano has faced challenges in certain markets, its performance in others suggests potential areas for growth and opportunity.
Competitive Landscape
In the competitive landscape of the Illinois pre-roll category, Verano has experienced notable fluctuations in its market positioning from August to November 2024. Initially ranked 4th in August, Verano climbed to 3rd place by September and maintained this position through October, before dropping to 6th in November. This shift in rank reflects a dynamic market environment where competitors like Nature's Grace and Wellness and Daze Off have also experienced changes in their standings. Notably, Nature's Grace and Wellness saw a decline from 3rd to 7th place, while Daze Off improved its rank from 5th to 4th over the same period. Meanwhile, The Essence showed a consistent performance, moving from 6th to 5th place. These shifts suggest a competitive market where Verano's sales trajectory, which saw a peak in September before declining in November, is influenced by the dynamic performances of its rivals. As the market continues to evolve, understanding these competitive movements is crucial for strategic positioning and capturing market share.
Notable Products
In November 2024, the top-performing product for Verano was the Reserve Stix - Yum Yum Pre-Roll (1g) in the Pre-Roll category, achieving the number 1 rank with sales of 4686 units. The Travelers Essence - Cantaloupe Haze BDT Distillate Disposable (0.3g) maintained its strong performance, holding the number 2 position for the second consecutive month in the Vapor Pens category. Reserve Swift Lifts - Gelato Pre-Roll 5-Pack (2.5g) climbed to the 3rd spot after not being ranked in October, showing a resurgence in the Pre-Roll category. Traveler Essence - Bombsicle BDT Distillate Disposable (0.3g) experienced a drop from 1st in October to 4th in November, indicating a decrease in momentum. Lastly, Essence Travelers - Strawberry Cough BDT Distillate Oil Disposable (0.3g) slipped to 5th place, continuing its downward trend from previous months.
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.
