Nov-2024
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Overview
Market Insights Snapshot
Virtue Las Vegas has shown a varied performance across different cannabis product categories in Nevada. In the Concentrates category, the brand made a significant leap, moving from being outside the top 30 in August to securing the 15th position by November. This upward trajectory is notable, especially considering the brand's absence from the rankings just a few months earlier, suggesting a successful strategy or product launch. Meanwhile, in the Flower category, Virtue Las Vegas experienced a decline in its ranking, dropping from 32nd in August to 44th in November, which could indicate increased competition or changes in consumer preferences.
The Pre-Roll category provided a more stable performance for Virtue Las Vegas, maintaining a presence within the top 20 throughout the months. Despite a slight drop from 11th in September to 20th in November, the brand managed to keep its position relatively strong compared to other categories. This consistency in Pre-Rolls might highlight a loyal customer base or effective marketing strategies in that segment. Overall, while Virtue Las Vegas has shown strengths in certain areas, the mixed results across categories suggest there are opportunities for growth and improvement, especially in the Flower category where they have seen a consistent decline.
Competitive Landscape
In the competitive landscape of the Flower category in Nevada, Virtue Las Vegas has experienced fluctuations in its market position, with its rank dropping from 32 in August 2024 to 44 by November 2024. This decline in rank is mirrored by a downward trend in sales, suggesting potential challenges in maintaining market share. In contrast, LP Exotics has shown a positive trajectory, improving its rank from 51 in August to 36 in November, alongside a consistent increase in sales. Meanwhile, Grassroots remains a formidable competitor, consistently ranking higher than Virtue Las Vegas, although it too saw a drop in rank from 13 in October to 32 in November. The competitive pressure is further intensified by Pheno Exotic and Hippies, both of which have maintained relatively stable positions, indicating a robust presence in the market. These dynamics suggest that Virtue Las Vegas may need to reassess its strategies to regain its competitive edge in the Nevada Flower market.
Notable Products
In November 2024, the top-performing product from Virtue Las Vegas was the Fig Bar Pre-Roll (1g), which maintained its leading position from September, despite a slight drop in sales to 2153 units. The Diamond Dust Pre-Roll (1g) followed closely in second place, slipping from its previous top rank in October. Orange Push Pop Pre-Roll (1g) held steady in third place, showing a consistent performance over the past few months. Notably, the Private Reserve Pre-Roll (1g) remained in fourth place, unchanged from October. The J1 Pre-Roll (1g) made its debut in the rankings at fifth place, indicating a new entry into the top product list for November.
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.