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Oct-2024
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Overview
Market Insights Snapshot
Virtue Las Vegas has shown varied performance across different product categories in Nevada. In the Concentrates category, the brand made notable progress by entering the top 30 rankings in September and October 2024, securing the 27th and 30th positions, respectively. This indicates a positive trend as the brand was absent from the rankings in the preceding months. In contrast, the Flower category exhibited a decline, with Virtue Las Vegas slipping from 25th place in July to 34th by October. This downward movement suggests challenges in maintaining market share or possibly increased competition within the category.
In the Pre-Roll category, Virtue Las Vegas displayed a strong upward trajectory, rising from 21st in July to an impressive 11th in September, before slightly dropping to 12th in October. This indicates a robust performance in this category, with the brand managing to maintain a strong presence. However, in the Vapor Pens category, Virtue Las Vegas only appeared in the rankings in July, at 37th place, and did not make it into the top 30 in the subsequent months. This absence highlights potential difficulties in penetrating this segment or sustaining visibility in a competitive market. Overall, while there are areas of growth and strength, certain categories may require strategic adjustments to enhance performance.
Competitive Landscape
In the Nevada Flower category, Virtue Las Vegas has experienced a notable decline in its competitive standing, dropping from a rank of 25 in July 2024 to 34 by October 2024. This downward trend in rank is mirrored by a consistent decrease in sales over the same period, indicating potential challenges in maintaining market share. In contrast, Prime Cannabis and Srene have shown significant upward momentum, with both brands improving their ranks to 33 and 32 respectively by October 2024, alongside increases in sales. Notably, Good Green experienced fluctuations but maintained a competitive edge, ranking higher than Virtue Las Vegas in most months, except October where it slightly fell to 35. This competitive landscape suggests that Virtue Las Vegas may need to reassess its strategies to regain its position and counter the rising competition from these brands in the Nevada market.
Notable Products
In October 2024, the top-performing product for Virtue Las Vegas was Diamond Dust Pre-Roll (1g), which climbed to the number one rank with sales of 3,393 units. Orange Push Pop Pre-Roll (1g) held steady at the second position, showing consistent popularity since August 2024. Fig Bar Pre-Roll (1g) dropped to third place after being the top product in September 2024, indicating a slight decline in its momentum. Private Reserve Pre-Roll (1g) re-entered the rankings at fourth place, showing a positive trend from its absence in September. Notably, Emerald Ghost Cookies Pre-Roll (1g) made its debut on the list, securing the fifth position and marking its first appearance in the rankings.
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.
