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Oct-2024
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Overview
Market Insights Snapshot
Vert's performance across various states and categories has shown some notable shifts in recent months. In the Nevada edibles market, Vert experienced fluctuating rankings, starting at 22 in July 2024, dropping to 28 in August, and slightly recovering to 26 in September. However, the brand did not make it into the top 30 by October, which could be a cause for concern as it indicates a potential decline in market presence. Despite these ranking changes, Vert's sales figures in Nevada show a sharp decline from July to August, with a partial recovery in September, but the absence of ranking in October suggests that the recovery may not have been sustained.
These movements in Nevada highlight the competitive nature of the edibles category and suggest that Vert may need to reassess its strategies to maintain or improve its market position. The lack of a top 30 ranking in October could be indicative of increased competition or changes in consumer preferences that Vert has yet to address. While detailed sales figures are not available for October, the trend observed in the preceding months suggests that Vert needs to innovate or re-engage with its customer base to regain its footing in the Nevada market. This situation presents an opportunity for Vert to analyze its approach and make strategic adjustments to enhance its performance in the coming months.
Competitive Landscape
In the Nevada edible market, Vert experienced notable fluctuations in its competitive standing from July to October 2024. Initially ranked 22nd in July, Vert's position dropped to 28th in August, before recovering slightly to 26th in September. This volatility in rank is mirrored in its sales performance, which saw a significant decline from July to August, followed by a partial recovery in September. Despite these challenges, Vert remains a key player in the market, although it faces stiff competition from brands like Tyson 2.0, which consistently maintained a higher rank, peaking at 18th in both August and September. Additionally, Encore Edibles dominated the market with a stable top 10 position, underscoring the competitive pressure on Vert to enhance its market strategies to regain and sustain higher rankings and sales.
Notable Products
In October 2024, Vert's top-performing product was the Cookies n Cream Cookie (100mg) in the Edible category, which surged to the number one rank with sales of 137 units. The Strawberry Shortcake Cookie (100mg), also in the Edible category, slipped from first place in September to second place, maintaining strong sales. The Caramel Brownie Cookie Square (100mg) made its debut in the rankings at the third position, indicating a positive reception. Snickerdoodle Cookie Square (100mg) improved its ranking from fifth in September to fourth in October, despite a decrease in sales. The CBD:THC 1:1 Caramel Brownie Cookie Square (100mg CBD, 100mg THC) saw a drop to fifth place, reflecting a significant decline in sales 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.
