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Oct-2024
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Overview
Market Insights Snapshot
WVY's performance in the California market for the Concentrates category has shown a slight decline over the past few months. Starting in July 2024, WVY held a strong position at 6th place, but by October, the brand had slipped to 8th place. This downward trend is mirrored in their sales figures, which have consistently decreased from $544,399 in July to $346,570 by October. The decrease in ranking and sales could suggest increased competition or changes in consumer preferences within the California Concentrates market.
Interestingly, WVY's absence from the top 30 rankings in other states and categories suggests a potential area for growth or a strategic reevaluation. Being outside the top 30 indicates that WVY may not have a significant presence or competitive edge in those markets currently. This could be a critical point for WVY to consider expanding its footprint or diversifying its product offerings to capture a larger market share. Understanding the dynamics and consumer trends in these other regions could provide WVY with opportunities to enhance its brand visibility and performance.
Competitive Landscape
In the competitive landscape of California's concentrates market, WVY has experienced notable fluctuations in its ranking and sales over the past few months. WVY started strong in July 2024, securing the 6th position, but saw a decline in rank to 8th by August, where it remained through October. This decline in rank coincided with a significant drop in sales, contrasting sharply with competitors like CannaBiotix (CBX) and Himalaya, which maintained higher ranks and experienced steady sales growth. Notably, Creme De Canna showed a remarkable rise from 23rd in July to 10th in October, highlighting a potential shift in consumer preferences that WVY may need to address. Despite these challenges, WVY's consistent presence in the top 10 indicates a strong brand presence, though strategic adjustments may be necessary to regain its earlier momentum.
Notable Products
In October 2024, the top-performing product from WVY was Grape Gas Sauce (1g) in the Concentrates category, achieving the number one rank with sales of 3,089 units. This product showed a significant rise from its third-place position in September 2024. Purple Master Kush Budder (1g) secured the second spot, marking its debut in the top rankings. Rainbow Banana Budder (1g) followed closely in third place, maintaining its position from September. These shifts indicate a growing preference for budder concentrates among consumers in the given month.
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.
