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Nov-2024
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Overview
Market Insights Snapshot
Weed Water has shown a consistent presence in the beverage category across several states, with notable performance in New York. In this state, Weed Water maintained a steady rank of 5th place from September through November 2024, despite a drop from 3rd place in August. This indicates a relative stability in their market position even as sales figures fluctuated, with a notable dip in September followed by a rebound in October. The persistence of Weed Water in the top 5 suggests a strong brand recognition and consumer loyalty within the New York beverage market.
However, the absence of Weed Water from the top 30 brands in other states or categories could be viewed as a missed opportunity for expansion or a strategic focus on specific regions. The lack of rankings in additional markets might reflect either a concentrated strategy or a need for increased market penetration. The performance in New York could serve as a benchmark for potential growth strategies in other areas, as maintaining a top 5 position in a competitive market is a notable achievement. Observing how Weed Water navigates these dynamics in the upcoming months will be crucial for understanding their broader market strategy.
Competitive Landscape
In the competitive landscape of the New York cannabis beverage market, Weed Water has experienced notable shifts in its ranking over the past few months. Initially holding a strong position at rank 3 in August 2024, Weed Water saw a decline to rank 5 by September and maintained this position through November. This change in rank is significant as it indicates a decrease in market share, especially when compared to competitors like Harney Brothers Cannabis, which improved from rank 6 in August to consistently hold rank 3 from September onwards. Meanwhile, MyHi has maintained a steady rank at 4 throughout the same period. The sales figures reflect these trends, with Weed Water's sales peaking in August but showing a downward trend thereafter, whereas Harney Brothers Cannabis has seen a consistent increase in sales, suggesting a growing consumer preference. This competitive dynamic highlights the importance for Weed Water to reassess its market strategies to regain its earlier standing and counteract the upward momentum of its competitors.
Notable Products
In November 2024, the top-performing product from Weed Water was the CBD/THC 1:5 Pineapple Express Water (2mg CBD, 10mg THC), maintaining its rank at number one for four consecutive months with sales of 2850 units. The CBD/THC 1:5 Pineapple Express Water 6-Pack (12mg CBD, 60mg THC) consistently held the second position since September 2024. Gelato 41 Water (2mg CBD, 10mg THC) remained steady at the third rank from October to November, despite a decline in sales figures. The CBD/THC 1:5 Gelato Water (2mg CBD, 10mg THC) consistently ranked fourth across the months, with diminishing sales each month. Lastly, the CBD/THC 1:5 Gelato Water 6-Pack (12mg CBD, 60mg THC) reappeared in the rankings in November at fifth place, after being unranked in October.
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.
