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Aug-2024
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Overview
Market Insights Snapshot
Vert's performance in the Edible category within Nevada has shown some fluctuations over the past few months. In May 2024, Vert was ranked 26th, and it improved its position slightly to 25th in June. The upward trend continued in July with a ranking of 24th. However, August saw a significant drop to the 28th position, indicating potential challenges in maintaining a steady market presence. This fluctuation could be attributed to various market dynamics or competitive pressures. Notably, Vert's sales in Nevada peaked in June 2024 but experienced a sharp decline by August, suggesting a need for strategic adjustments to regain momentum.
Analyzing Vert's category rankings and state-specific performance provides valuable insights into its market trajectory. The brand's ability to stay within the top 30 in the Edible category in Nevada highlights its resilience, but the drop in August is a cause for concern. The data suggests that while Vert has had some success in gaining market share, sustaining that growth remains a challenge. The significant sales drop in August signals the necessity for Vert to re-evaluate its strategies to enhance its stability and performance in the competitive Nevada market. Further analysis and continuous monitoring would be essential to understand the underlying factors affecting these movements.
Competitive Landscape
In the Nevada edible cannabis market, Vert has experienced notable fluctuations in its ranking and sales over the past few months. Vert's rank improved from 26th in May 2024 to 24th in July 2024, before dropping to 28th in August 2024. This decline in rank coincides with a significant drop in sales from $33,873 in July to $14,001 in August. In comparison, Just Edibles has maintained a relatively stable position, ranking 23rd in May and 25th in August, with sales peaking at $47,071 in May and stabilizing around $23,391 in August. Meanwhile, Deep Roots Harvest showed consistent improvement, moving from 29th in May to 26th in August, with sales remaining steady. Highly Edible did not make it into the top 20 for August, indicating a potential decline in market presence. These trends suggest that while Vert had a strong mid-year performance, it faces significant competition and volatility in the Nevada edible market, highlighting the importance of strategic adjustments to regain and sustain higher rankings.
Notable Products
In August 2024, the top-performing product from Vert was Birthday Cake Cookie Square (100mg), which secured the first rank with sales of 160 units. The CBD:THC 1:1 Caramel Brownie Cookie Square (100mg CBD, 100mg THC) followed closely in second place. The Chocolate Chip Brownie Cookie Square (100mg), previously the top product, dropped to third place. Notably, the Chocolate Caramel Brownie Cookie Square (100mg) re-entered the rankings at fourth place after being absent in July. The Red Velvet Cookie Square (100mg) maintained its presence in the top five, albeit at the fifth position.
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.
