Market Insights Snapshot
In the competitive cannabis market of New York, Blotter has demonstrated a consistent performance in the Concentrates category, maintaining the 2nd rank from October 2023 through January 2024. This stability is noteworthy, especially considering a significant sales jump from October's $49,954 to December's $104,925, before a slight decrease in January 2024 to $86,090. However, the brand's journey in the Pre-Roll and Vapor Pens categories tells a different story. In Pre-Rolls, Blotter experienced a gradual decline, moving from the 15th position in October 2023 to the 33rd by January 2024, indicating a struggle to maintain its footing amidst fierce competition. Similarly, in Vapor Pens, Blotter's ranking slipped from 32nd in October 2023 to 42nd by January 2024, suggesting challenges in capturing a significant share of this market segment in New York.
These movements across categories highlight Blotter's strong foothold in the Concentrates market within New York, suggesting a focused expertise or consumer preference that keeps them at the top. On the other hand, the downward trend in rankings for Pre-Rolls and Vapor Pens could reflect either operational challenges, shifting consumer preferences, or increased competition. The significant drop in sales for Pre-Rolls from October's $54,321 to January's $28,455, alongside the fluctuating sales in Vapor Pens, peaking in December before falling again in January, underscores the volatility and the competitive nature of the cannabis market in New York. Blotter's performance across these categories illustrates the brand's need to possibly reassess its strategy in the more volatile segments while continuing to capitalize on its strength in the Concentrates category.
In the competitive landscape of the concentrates category in New York, Blotter has maintained a consistent performance, securing the second rank from October 2023 through January 2024. This stability in ranking, however, masks the underlying dynamics of sales volume and competition. Mfny (Marijuana Farms New York), the leading brand, has not only held the top position throughout this period but has also seen a significant increase in sales, widening the gap between itself and Blotter. On the other hand, Critical Concentrates made a notable leap from 12th to 3rd rank by December 2023, showing a remarkable surge in sales, particularly in December and January, which suggests a rapidly growing consumer base. Luci, another competitor, has seen fluctuations in its rank but managed to climb back to the 4th position by January 2024, indicating resilience in the market. These movements suggest that while Blotter has maintained a strong position, the competitive dynamics within the concentrates category are shifting, with significant sales growth seen by both leading and emerging brands, potentially challenging Blotter's market share in the future.
In January 2024, Blotter's top-performing product was Lucys - Sativa Infused Pre-Roll (0.7g) within the Pre-Roll category, maintaining its number one rank consistently from October 2023 through January 2024, with sales figures peaking at 1426 units in January. Following closely, Necropolis Live Resin Sugar (1g) from the Concentrates category secured the second spot in January, showing a significant rise from its previous rank of third in December 2023. Banana Runtz Wax (1g), also in the Concentrates category, made its debut in the top rankings, landing at the third position. Guava Live Resin Sugar (1g) and Gelato Live Resin Sugar (1g), both Concentrates, were ranked fourth and fifth respectively, indicating a strong preference for Concentrates among Blotter's offerings. This shift in rankings, especially the rise of Necropolis Live Resin Sugar (1g) and the new entry of Banana Runtz Wax (1g), showcases changing consumer preferences within Blotter's product line.